Korea Investment CORP Buys 76 Shares of Gartner, Inc. (NYSE:IT)

Korea Investment CORP boosted its stake in Gartner, Inc. (NYSE:IT) by 0.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,742 shares of the information technology services provider’s stock after buying an additional 76 shares during the quarter. Korea Investment CORP’s holdings in Gartner were worth $25,067,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Gartner by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 9,268,639 shares of the information technology services provider’s stock valued at $4,490,378,000 after purchasing an additional 100,917 shares in the last quarter. State Street Corp grew its position in Gartner by 1.1% during the third quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock valued at $1,650,697,000 after buying an additional 36,258 shares during the period. Geode Capital Management LLC increased its holdings in Gartner by 1.9% during the third quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider’s stock worth $1,020,378,000 after buying an additional 36,698 shares during the last quarter. Principal Financial Group Inc. raised its position in Gartner by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider’s stock worth $975,141,000 after acquiring an additional 11,657 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Gartner by 7.3% in the third quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock valued at $525,272,000 after acquiring an additional 70,236 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on IT shares. UBS Group lowered their price target on shares of Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a report on Tuesday. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. Wells Fargo & Company dropped their target price on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research report on Friday, January 10th. Morgan Stanley cut their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $536.63.

Insider Buying and Selling at Gartner

In related news, Director Eileen Serra sold 1,200 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the sale, the director now directly owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. This represents a 42.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP John J. Rinello sold 90 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the transaction, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Gartner Trading Down 1.5 %

Shares of NYSE IT opened at $418.57 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 stock has a market cap of $32.15 billion, a P/E ratio of 26.11, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29. The firm has a 50-day moving average of $494.18 and a 200 day moving average of $505.53. Gartner, Inc. has a 1 year low of $409.50 and a 1 year high of $584.01.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $2.23. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.04 earnings per share. As a group, sell-side 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.