OFI Invest Asset Management Makes New $3.31 Million Investment in Gartner, Inc. (NYSE:IT)

OFI Invest Asset Management acquired a new stake in Gartner, Inc. (NYSE:IT) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 7,084 shares of the information technology services provider’s stock, valued at approximately $3,314,000.

Other hedge funds also recently made changes to their positions in the company. State Street Corp raised its position in Gartner by 1.1% in the third quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock worth $1,650,697,000 after purchasing an additional 36,258 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Gartner by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider’s stock valued at $1,020,378,000 after purchasing an additional 36,698 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Gartner by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider’s stock worth $975,141,000 after buying an additional 11,657 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Gartner by 7.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock worth $525,272,000 after buying an additional 70,236 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Gartner by 3.3% in the 3rd quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider’s stock valued at $422,678,000 after buying an additional 25,315 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insiders Place Their Bets

In other Gartner news, SVP John J. Rinello sold 90 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the transaction, the director now directly owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Gartner Stock Performance

IT opened at $482.18 on Friday. The company has a market capitalization of $37.04 billion, a price-to-earnings ratio of 30.08, a P/E/G ratio of 3.30 and a beta of 1.29. The business’s 50-day moving average price is $509.85 and its two-hundred day moving average price is $509.97. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $584.01. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06.

Gartner (NYSE:IT) last released its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating the consensus estimate of $3.22 by $2.23. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.04 EPS. Equities analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Analysts Set New Price Targets

IT has been the subject of a number of analyst reports. Morgan Stanley cut their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Robert W. Baird lifted their price target on shares of Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Wells Fargo & Company cut their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Finally, StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $552.63.

Gartner Company Profile

Gartner, Inc operates as a research and advisory company in the United States, Canada, Europe, the Middle East, Africa, and internationally. It operates through three segments: Research, Conferences, and Consulting. The Research segment delivers its research primarily through a subscription service that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.