Gartner, Inc. (NYSE:IT) Position Boosted by Primecap Management Co. CA

Primecap Management Co. CA raised its position in shares of Gartner, Inc. (NYSE:IT) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 111,800 shares of the information technology services provider’s stock after buying an additional 1,000 shares during the period. Primecap Management Co. CA’s holdings in Gartner were worth $54,164,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IT. Principal Financial Group Inc. raised its holdings in shares of Gartner by 5.5% during the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after acquiring an additional 103,814 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Gartner by 37.7% during the third quarter. Empowered Funds LLC now owns 5,537 shares of the information technology services provider’s stock worth $2,806,000 after acquiring an additional 1,515 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Gartner by 8.2% during the third quarter. Thrivent Financial for Lutherans now owns 37,824 shares of the information technology services provider’s stock worth $19,168,000 after acquiring an additional 2,875 shares in the last quarter. AMG National Trust Bank purchased a new stake in shares of Gartner during the third quarter worth $207,000. Finally, Meeder Advisory Services Inc. raised its holdings in shares of Gartner by 10.7% during the third quarter. Meeder Advisory Services Inc. now owns 1,940 shares of the information technology services provider’s stock worth $983,000 after acquiring an additional 188 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Gartner news, Director Eileen Serra sold 1,200 shares of the stock in a transaction dated 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 transaction, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. This represents a 42.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John J. Rinello sold 90 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the transaction, the senior vice president now owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This represents a 2.69 % 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 Price Performance

IT opened at $446.75 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $584.01. The company has a fifty day simple moving average of $506.00 and a 200 day simple moving average of $509.15. The stock has a market cap of $34.32 billion, a P/E ratio of 27.87, a P/E/G ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the prior year, the company earned $3.04 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. On average, research analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

Analysts Set New Price Targets

IT has been the subject of several recent research reports. Robert W. Baird increased their price objective on Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. Wells Fargo & Company dropped their price objective 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, StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $552.63.

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.