Intech Investment Management LLC Raises Stock Position in Gartner, Inc. (NYSE:IT)

Intech Investment Management LLC raised its stake in shares of Gartner, Inc. (NYSE:IT) by 121.2% during the fourth quarter, Holdings Channel reports. The firm owned 8,362 shares of the information technology services provider’s stock after buying an additional 4,582 shares during the quarter. Intech Investment Management LLC’s holdings in Gartner were worth $4,051,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in IT. State Street Corp grew its position in shares of Gartner by 1.1% in the 3rd quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock worth $1,650,697,000 after buying an additional 36,258 shares during the period. Geode Capital Management LLC grew its position 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 worth $1,020,378,000 after buying an additional 36,698 shares during the period. Principal Financial Group Inc. grew its position 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 during the period. JPMorgan Chase & Co. grew its position in shares of Gartner by 7.3% in 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. grew its position in shares of Gartner by 3.3% in the 3rd quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider’s stock worth $422,678,000 after buying an additional 25,315 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gartner

In other news, Director Eileen Serra sold 1,200 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the transaction, the director now owns 1,627 shares in the company, valued at $796,855.79. This represents a 42.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP John J. Rinello sold 90 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the transaction, the senior vice president now owns 3,259 shares in the company, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Gartner Price Performance

IT opened at $448.70 on Thursday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $34.47 billion, a P/E ratio of 27.99, a P/E/G ratio of 3.30 and a beta of 1.29. The company’s 50-day simple moving average is $505.08 and its two-hundred day simple moving average is $508.72. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $584.01.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on IT shares. Robert W. Baird upped their target price on shares of Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. Morgan Stanley dropped their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Finally, Wells Fargo & Company dropped their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $552.63.

Gartner 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.