Board of the Pension Protection Fund Makes New $581,000 Investment in Gartner, Inc. (NYSE:IT)

Board of the Pension Protection Fund bought a new stake in Gartner, Inc. (NYSE:IT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,200 shares of the information technology services provider’s stock, valued at approximately $581,000.

Several other hedge funds also recently made changes to their positions in IT. Baron Wealth Management LLC raised its holdings in Gartner by 4.1% in the third quarter. Baron Wealth Management LLC now owns 481 shares of the information technology services provider’s stock worth $244,000 after purchasing an additional 19 shares in the last quarter. Fortitude Family Office LLC grew its position in shares of Gartner by 23.8% in the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after buying an additional 20 shares during the period. Moors & Cabot Inc. increased its stake in shares of Gartner by 3.0% in the 2nd quarter. Moors & Cabot Inc. now owns 763 shares of the information technology services provider’s stock worth $343,000 after acquiring an additional 22 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Gartner by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 917 shares of the information technology services provider’s stock valued at $444,000 after acquiring an additional 22 shares during the period. Finally, Wallace Advisory Group LLC boosted its stake in Gartner by 2.4% during the second quarter. Wallace Advisory Group LLC now owns 980 shares of the information technology services provider’s stock worth $440,000 after acquiring an additional 23 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director James C. Smith sold 2,450 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $554.68, for a total transaction of $1,358,966.00. Following the completion of the sale, the director now directly owns 529,844 shares in the company, valued at approximately $293,893,869.92. The trade was a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP William James Wartinbee III sold 189 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $523.54, for a total transaction of $98,949.06. Following the completion of the transaction, the executive vice president now owns 7,311 shares in the company, valued at $3,827,600.94. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,583 shares of company stock valued at $19,241,974. Company insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird upped their price target on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $525.00 to $600.00 in a research note on Friday, January 10th. Morgan Stanley increased their target price on Gartner from $560.00 to $564.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company reduced their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $551.88.

Gartner Trading Up 1.4 %

Gartner stock opened at $499.80 on Wednesday. Gartner, Inc. has a one year low of $411.15 and a one year high of $559.00. The business’s fifty day moving average is $509.24 and its 200 day moving average is $497.32. The stock has a market capitalization of $38.55 billion, a PE ratio of 36.86, a price-to-earnings-growth ratio of 3.18 and a beta of 1.33. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm posted $2.56 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts predict that Gartner, Inc. will post 11.87 EPS for the current year.

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.