Kestra Investment Management LLC Acquires New Position in Gartner, Inc. (NYSE:IT)

Kestra Investment Management LLC bought a new position in Gartner, Inc. (NYSE:IT) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 60 shares of the information technology services provider’s stock, valued at approximately $29,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IT. Assenagon Asset Management S.A. boosted its holdings in shares of Gartner by 208.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 272,267 shares of the information technology services provider’s stock worth $131,905,000 after purchasing an additional 183,974 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Gartner during the third quarter worth about $70,955,000. Principal Financial Group Inc. lifted its position in Gartner by 5.5% during the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after buying an additional 103,814 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Gartner in the 3rd quarter worth about $36,789,000. Finally, JPMorgan Chase & Co. grew its holdings in 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 valued at $525,272,000 after buying an additional 70,236 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Gartner Stock Down 3.1 %

Shares of Gartner stock opened at $487.44 on Friday. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $584.01. The stock has a market cap of $37.44 billion, a price-to-earnings ratio of 30.41, a price-to-earnings-growth ratio of 3.30 and a beta of 1.34. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The company has a fifty day moving average price of $509.42 and a 200 day moving average price of $509.30.

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

Insiders Place Their Bets

In other Gartner news, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the transaction, the senior vice president now owns 3,259 shares in the company, valued at $1,728,932.09. The trade was a 2.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Claire Herkes sold 411 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total value of $214,229.64. Following the sale, the executive vice president now owns 1,494 shares of the company’s stock, valued at $778,732.56. This represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,690 shares of company stock worth $2,981,025 in the last 90 days. 3.60% of the stock is owned by company insiders.

About Gartner

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.