Wellington Management Group LLP Has $747.04 Million Stock Position in Gartner, Inc. (NYSE:IT)

Wellington Management Group LLP cut its holdings in Gartner, Inc. (NYSE:IT) by 1.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,474,151 shares of the information technology services provider’s stock after selling 24,099 shares during the period. Wellington Management Group LLP owned about 1.91% of Gartner worth $747,041,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Eastern Bank bought a new position in Gartner in the third quarter valued at $26,000. Crewe Advisors LLC grew its holdings in shares of Gartner by 223.3% in the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after acquiring an additional 67 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Gartner in the third quarter valued at about $44,000. True Wealth Design LLC raised its holdings in Gartner by 2,350.0% during the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after acquiring an additional 94 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its position in 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 during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Gartner

In other Gartner news, CEO Eugene A. Hall sold 34,060 shares of Gartner stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $505.40, for a total value of $17,213,924.00. Following the completion of the sale, the chief executive officer now owns 1,143,401 shares in the company, valued at $577,874,865.40. The trade was a 2.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James C. Smith sold 2,450 shares of the stock in a transaction that occurred 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 transaction, the director now owns 529,844 shares in the company, valued at approximately $293,893,869.92. The trade was a 0.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,560 shares of company stock valued at $37,909,141 in the last ninety days. 3.60% of the stock is currently owned by corporate insiders.

Gartner Stock Performance

Shares of IT stock opened at $517.37 on Friday. The company has a market capitalization of $39.90 billion, a price-to-earnings ratio of 38.15, a PEG ratio of 3.26 and a beta of 1.31. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. Gartner, Inc. has a 52 week low of $411.15 and a 52 week high of $559.00. The company has a 50-day simple moving average of $521.52 and a 200 day simple moving average of $486.13.

Gartner (NYSE:IT) last issued 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. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.56 earnings per share. On average, sell-side analysts predict that Gartner, Inc. will post 11.89 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on IT shares. Deutsche Bank Aktiengesellschaft boosted their price target on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Morgan Stanley upped their price target on shares of Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Wells Fargo & Company lifted their price objective on shares of Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. 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. Finally, StockNews.com upgraded Gartner from a “hold” rating to a “buy” 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, the stock currently has an average rating of “Hold” and a consensus price target of $539.25.

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.