Fmr LLC Raises Stake in Gartner, Inc. (NYSE:IT)

Fmr LLC raised its stake in shares of Gartner, Inc. (NYSE:IT) by 8.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,822,122 shares of the information technology services provider’s stock after buying an additional 223,087 shares during the quarter. Fmr LLC’s holdings in Gartner were worth $1,367,233,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of IT. 2Xideas AG grew its stake in Gartner by 45.0% during the fourth quarter. 2Xideas AG now owns 24,776 shares of the information technology services provider’s stock valued at $12,003,000 after acquiring an additional 7,687 shares in the last quarter. Unigestion Holding SA grew its position in shares of Gartner by 2.0% during the 4th quarter. Unigestion Holding SA now owns 48,424 shares of the information technology services provider’s stock valued at $23,460,000 after purchasing an additional 970 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Gartner by 165.9% during the 4th quarter. Federated Hermes Inc. now owns 170,709 shares of the information technology services provider’s stock valued at $82,703,000 after purchasing an additional 106,514 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Gartner by 15.7% in the fourth quarter. Russell Investments Group Ltd. now owns 49,728 shares of the information technology services provider’s stock worth $24,100,000 after purchasing an additional 6,757 shares during the period. Finally, Hurley Capital LLC bought a new stake in Gartner during the fourth quarter valued at $73,000. 91.51% of the stock is currently owned by institutional investors.

Gartner Price Performance

Shares of Gartner stock opened at $383.12 on Monday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. Gartner, Inc. has a 52-week low of $382.23 and a 52-week high of $584.01. The company has a fifty day moving average of $482.71 and a 200-day moving average of $502.12. The stock has a market capitalization of $29.43 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 3.30 and a beta of 1.26.

Gartner (NYSE:IT) last posted its quarterly 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 during the quarter, compared to analyst estimates of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.04 earnings per share. Equities research analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

Analysts Set New Price Targets

IT has been the topic of a number of research analyst reports. Wells Fargo & Company decreased their target price on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. UBS Group dropped their target price on shares of Gartner from $565.00 to $500.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Finally, Morgan Stanley dropped their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Gartner has a consensus rating of “Hold” and a consensus target price of $525.38.

Insider Buying and Selling

In other Gartner news, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction dated 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 approximately $796,855.79. The trade was a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John J. Rinello sold 90 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the transaction, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is owned by corporate insiders.

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.