Pictet Asset Management Holding SA Acquires 7,435 Shares of Gartner, Inc. (NYSE:IT)

Pictet Asset Management Holding SA boosted its holdings in shares of Gartner, Inc. (NYSE:IT) by 17.6% in the fourth quarter, Holdings Channel reports. The firm owned 49,619 shares of the information technology services provider’s stock after purchasing an additional 7,435 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Gartner were worth $24,039,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Kestra Investment Management LLC acquired a new stake in shares of Gartner during the 4th quarter worth about $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of Gartner during the fourth quarter worth approximately $49,000. True Wealth Design LLC raised its stake in shares of Gartner by 2,350.0% in the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after acquiring an additional 94 shares during the last quarter. Promus Capital LLC acquired a new position in shares of Gartner in the 4th quarter worth approximately $57,000. Finally, Global Retirement Partners LLC grew its position in Gartner by 14.0% during the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock worth $134,000 after acquiring an additional 34 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Gartner

In other news, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 1,627 shares of the company’s stock, valued at $796,855.79. The trade was a 42.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares in the company, valued at $1,728,932.09. The trade was a 2.69 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by corporate insiders.

Gartner Stock Performance

Shares of Gartner stock opened at $420.00 on Tuesday. The firm has a fifty day moving average of $492.25 and a two-hundred day moving average of $505.01. 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 $32.26 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 3.30 and a beta of 1.29. Gartner, Inc. has a 52 week low of $409.50 and a 52 week high of $584.01.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The business 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 company posted $3.04 earnings per share. The firm’s revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IT. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $525.00 to $600.00 in a research report on Friday, January 10th. UBS Group reduced their price target on shares of Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Wells Fargo & Company lowered their price objective on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. Morgan Stanley reduced their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Finally, StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Gartner presently has an average rating of “Hold” and an average price target of $536.63.

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.