Fisher Funds Management LTD Takes $97.52 Million Position in Gartner, Inc. (NYSE:IT)

Fisher Funds Management LTD bought a new position in shares of Gartner, Inc. (NYSE:IT) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 201,164 shares of the information technology services provider’s stock, valued at approximately $97,518,000. Gartner makes up approximately 2.4% of Fisher Funds Management LTD’s portfolio, making the stock its 11th largest position. Fisher Funds Management LTD owned 0.26% of Gartner at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Baron Wealth Management LLC raised its holdings in Gartner by 4.1% during the third quarter. Baron Wealth Management LLC now owns 481 shares of the information technology services provider’s stock worth $244,000 after purchasing an additional 19 shares in the last quarter. Fortitude Family Office LLC raised its stake in Gartner by 23.8% during the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after acquiring an additional 20 shares in the last quarter. Gilbert & Cook Inc. lifted its position in Gartner by 1.5% in the fourth quarter. Gilbert & Cook Inc. now owns 1,364 shares of the information technology services provider’s stock valued at $661,000 after acquiring an additional 20 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in Gartner by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 917 shares of the information technology services provider’s stock valued at $444,000 after acquiring an additional 22 shares in the last quarter. Finally, Western Financial Corp CA boosted its stake in Gartner by 1.0% in the fourth quarter. Western Financial Corp CA now owns 2,259 shares of the information technology services provider’s stock valued at $1,094,000 after acquiring an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IT. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. Wells Fargo & Company cut their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a report on Friday, January 10th. Finally, 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Gartner has an average rating of “Moderate Buy” and a consensus price target of $552.63.

Gartner Price Performance

Shares of NYSE IT opened at $487.44 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $37.44 billion, a PE ratio of 30.41, a P/E/G ratio of 3.30 and a beta of 1.34. The stock has a fifty day moving average price of $509.42 and a 200 day moving average price of $509.30. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $584.01.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $2.23. The business had revenue of $1.72 billion for 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 business’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.04 earnings per share. Sell-side analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Transactions at Gartner

In related news, EVP William James Wartinbee III sold 189 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $523.54, for a total transaction of $98,949.06. Following the sale, the executive vice president now owns 7,311 shares of the company’s stock, valued at approximately $3,827,600.94. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Claire Herkes sold 411 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total transaction of $214,229.64. Following the completion of the transaction, the executive vice president now directly owns 1,494 shares of the company’s stock, valued at approximately $778,732.56. This trade represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,690 shares of company stock valued at $2,981,025. Corporate insiders own 3.60% of the company’s stock.

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.