Assenagon Asset Management S.A. Buys 183,974 Shares of Gartner, Inc. (NYSE:IT)

Assenagon Asset Management S.A. grew its stake in Gartner, Inc. (NYSE:IT) by 208.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 272,267 shares of the information technology services provider’s stock after acquiring an additional 183,974 shares during the quarter. Assenagon Asset Management S.A. owned 0.35% of Gartner worth $131,905,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in IT. Eastern Bank purchased a new position in Gartner in the 3rd quarter worth approximately $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Gartner in the 3rd quarter worth $44,000. 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 worth $50,000 after purchasing an additional 94 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after purchasing an additional 20 shares in the last quarter. Finally, Asset Dedication LLC lifted its holdings in shares of Gartner by 46.5% during the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock valued at $75,000 after purchasing an additional 47 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Insider Buying and Selling at Gartner

In other Gartner news, EVP William James Wartinbee III sold 189 shares of the stock in a transaction that occurred 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 directly owns 7,311 shares of the company’s stock, valued at $3,827,600.94. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James C. Smith sold 2,450 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $554.68, for a total transaction of $1,358,966.00. Following the completion of the transaction, the director now directly owns 529,844 shares in the company, valued at $293,893,869.92. This trade represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,583 shares of company stock valued at $19,241,974 over the last ninety days. 3.60% of the stock is currently owned by company insiders.

Gartner Price Performance

NYSE IT opened at $499.80 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $559.00. The stock has a market cap of $38.55 billion, a price-to-earnings ratio of 36.86, a PEG ratio of 3.18 and a beta of 1.33. The company’s 50 day moving average is $509.24 and its two-hundred day moving average is $497.32.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the company posted $2.56 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, research analysts anticipate that Gartner, Inc. will post 11.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IT has been the topic of several research analyst reports. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Morgan Stanley increased their price objective on shares of Gartner from $560.00 to $564.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Wells Fargo & Company cut their target price 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. Finally, Robert W. Baird upped their target price on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $551.88.

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.