iA Global Asset Management Inc. Increases Stock Position in Gartner, Inc. (NYSE:IT)

iA Global Asset Management Inc. increased its position in Gartner, Inc. (NYSE:IT) by 10.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,392 shares of the information technology services provider’s stock after purchasing an additional 415 shares during the quarter. iA Global Asset Management Inc.’s holdings in Gartner were worth $2,128,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp grew its holdings in Gartner by 1.1% during the 3rd quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock worth $1,650,697,000 after acquiring an additional 36,258 shares in the last quarter. Geode Capital Management LLC lifted its position in Gartner by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider’s stock valued at $1,020,378,000 after purchasing an additional 36,698 shares during the last quarter. Principal Financial Group Inc. lifted its position in Gartner by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider’s stock valued at $975,141,000 after purchasing an additional 11,657 shares during the last quarter. JPMorgan Chase & Co. lifted its position 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 purchasing an additional 70,236 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Gartner by 3.3% in the 3rd quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider’s stock valued at $422,678,000 after purchasing an additional 25,315 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on IT shares. Robert W. Baird cut their price objective on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research report on Friday. Morgan Stanley dropped their price target 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. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $525.00 to $600.00 in a report on Friday, January 10th. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. Finally, StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $546.63.

Insider Buying and Selling at Gartner

In other 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 completion of the sale, the senior vice president now directly owns 3,259 shares in the company, valued at approximately $1,728,932.09. The trade was a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

Gartner Stock Performance

Shares of IT opened at $430.03 on Friday. The company’s 50 day moving average price is $502.37 and its 200 day moving average price is $507.66. Gartner, Inc. has a 52 week low of $409.50 and a 52 week high of $584.01. The company has a market capitalization of $33.03 billion, a PE ratio of 26.83, a PEG ratio of 3.30 and a beta of 1.29. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06.

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

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.