Massachusetts Financial Services Co. MA Has $1.46 Billion Stock Holdings in Gartner, Inc. (NYSE:IT)

Massachusetts Financial Services Co. MA trimmed its stake in Gartner, Inc. (NYSE:IT) by 8.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,883,366 shares of the information technology services provider’s stock after selling 251,075 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 3.74% of Gartner worth $1,461,175,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Transcend Capital Advisors LLC acquired a new position in Gartner during the second quarter worth $512,000. Tidal Investments LLC raised its holdings in shares of Gartner by 24.4% in the 1st quarter. Tidal Investments LLC now owns 9,890 shares of the information technology services provider’s stock valued at $4,717,000 after purchasing an additional 1,940 shares during the period. Magnetar Financial LLC acquired a new stake in Gartner in the 1st quarter valued at about $1,049,000. Vident Advisory LLC grew its holdings in Gartner by 543.2% during the first quarter. Vident Advisory LLC now owns 9,178 shares of the information technology services provider’s stock worth $4,375,000 after purchasing an additional 7,751 shares during the period. Finally, Swedbank AB acquired a new position in Gartner during the first quarter worth approximately $30,735,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on IT. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. UBS Group raised their price objective on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company increased their target price on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. BMO Capital Markets upped their price objective on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Finally, Bank of America boosted their target price on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $539.25.

Gartner Trading Up 0.1 %

Shares of IT stock opened at $518.00 on Thursday. 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 fifty-two week low of $411.15 and a fifty-two week high of $559.00. The company has a market cap of $39.95 billion, a PE ratio of 38.20, a P/E/G ratio of 3.23 and a beta of 1.32. The stock’s fifty day moving average price is $519.61 and its two-hundred day moving average price is $479.95.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.56 earnings per share. Equities analysts predict that Gartner, Inc. will post 11.89 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Claire Herkes sold 478 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $506.01, for a total transaction of $241,872.78. Following the completion of the sale, the executive vice president now owns 1,905 shares in the company, valued at approximately $963,949.05. This trade represents a 20.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Yvonne Genovese sold 443 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $483.62, for a total value of $214,243.66. Following the completion of the transaction, the executive vice president now owns 1,959 shares in the company, valued at approximately $947,411.58. The trade was a 18.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 73,172 shares of company stock valued at $38,023,255 over the last 90 days. 3.60% of the stock is owned by insiders.

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.