Gartner, Inc. (NYSE:IT) Shares Purchased by New York Life Investment Management LLC

New York Life Investment Management LLC lifted its holdings in Gartner, Inc. (NYSE:IT) by 0.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,394 shares of the information technology services provider’s stock after purchasing an additional 26 shares during the period. New York Life Investment Management LLC’s holdings in Gartner were worth $5,520,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in IT. Fisher Funds Management LTD acquired a new position in shares of Gartner in the fourth quarter valued at approximately $97,518,000. Assenagon Asset Management S.A. grew its holdings in shares of Gartner by 208.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 272,267 shares of the information technology services provider’s stock valued at $131,905,000 after purchasing an additional 183,974 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Gartner in the third quarter valued at approximately $70,955,000. Principal Financial Group Inc. grew its holdings in shares of Gartner by 5.5% in the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock valued at $1,014,099,000 after purchasing an additional 103,814 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Gartner in the third quarter valued at approximately $36,789,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Activity at Gartner

In related news, Director Eileen Serra sold 1,200 shares of the company’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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William James Wartinbee III sold 189 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $523.54, for a total transaction of $98,949.06. Following the completion of the sale, the executive vice president now owns 7,311 shares of the company’s stock, valued at approximately $3,827,600.94. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,479 shares of company stock worth $734,419 in the last 90 days. 3.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on IT shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a report on Tuesday. Robert W. Baird boosted their price target on shares of Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Morgan Stanley lowered their price target 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. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. 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. Based on data from MarketBeat, Gartner has an average rating of “Hold” and a consensus price target of $552.63.

Gartner Trading Up 1.5 %

Shares of Gartner stock opened at $498.63 on Friday. The company has a fifty day simple moving average of $509.99 and a 200-day simple moving average of $509.68. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $584.01. 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 stock has a market cap of $38.30 billion, a price-to-earnings ratio of 31.11, a PEG ratio of 3.30 and a beta of 1.34.

Gartner (NYSE:IT) last issued 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. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the prior year, the business posted $3.04 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities analysts forecast that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

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.