US Bancorp DE Has $3.24 Million Stake in Gartner, Inc. (NYSE:IT)

US Bancorp DE raised its stake in Gartner, Inc. (NYSE:IT) by 27.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,677 shares of the information technology services provider’s stock after purchasing an additional 1,431 shares during the period. US Bancorp DE’s holdings in Gartner were worth $3,235,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of IT. Fisher Funds Management LTD acquired a new position in shares of Gartner in the fourth quarter valued at $97,518,000. Proficio Capital Partners LLC acquired a new position in shares of Gartner in the fourth quarter valued at $95,762,000. Assenagon Asset Management S.A. increased its holdings in shares of Gartner by 208.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 272,267 shares of the information technology services provider’s stock valued at $131,905,000 after purchasing an additional 183,974 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Gartner in the third quarter valued at about $70,955,000. Finally, Principal Financial Group Inc. boosted its position in shares of Gartner by 5.5% in the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock valued at $1,014,099,000 after acquiring an additional 103,814 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Gartner

In other news, Director Eileen Serra sold 1,200 shares of the stock in a transaction dated 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 transaction, the director now owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. This represents a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John J. Rinello sold 90 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value 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 1.4 %

IT opened at $483.64 on Friday. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $584.01. The company has a 50-day simple moving average of $510.05 and a 200 day simple moving average of $510.17. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $37.15 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 3.30 and a beta of 1.34.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $2.23. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.04 earnings per share. Analysts predict that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. Morgan Stanley reduced their target price 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. Wells Fargo & Company reduced their target price 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. Robert W. Baird boosted their target price on shares of Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Finally, StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $552.63.

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.