American Trust Invests $274,000 in Gartner, Inc. (NYSE:IT)

American Trust purchased a new position in shares of Gartner, Inc. (NYSE:ITGet Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 920 shares of the information technology services provider’s stock, valued at approximately $274,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Gartner by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 9,198,161 shares of the information technology services provider’s stock valued at $2,736,085,000 after acquiring an additional 102,709 shares during the period. BlackRock Inc. boosted its holdings in Gartner by 2.8% during the 1st quarter. BlackRock Inc. now owns 6,446,779 shares of the information technology services provider’s stock valued at $1,917,660,000 after acquiring an additional 173,532 shares during the period. State Street Corp boosted its holdings in Gartner by 2.1% during the 4th quarter. State Street Corp now owns 3,273,310 shares of the information technology services provider’s stock valued at $1,094,333,000 after acquiring an additional 68,873 shares during the period. Wellington Management Group LLP raised its position in Gartner by 20.3% in the 1st quarter. Wellington Management Group LLP now owns 2,029,738 shares of the information technology services provider’s stock valued at $603,766,000 after purchasing an additional 342,228 shares in the last quarter. Finally, Invesco Ltd. raised its position in Gartner by 7.3% in the 1st quarter. Invesco Ltd. now owns 1,313,140 shares of the information technology services provider’s stock valued at $390,606,000 after purchasing an additional 89,707 shares in the last quarter. 92.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Yvonne Genovese sold 645 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $310.02, for a total transaction of $199,962.90. Following the transaction, the executive vice president now owns 639 shares in the company, valued at approximately $198,102.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Gartner news, CFO Craig Safian sold 5,577 shares of Gartner stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $303.28, for a total value of $1,691,392.56. Following the transaction, the chief financial officer now directly owns 61,986 shares in the company, valued at approximately $18,799,114.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Yvonne Genovese sold 645 shares of Gartner stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $310.02, for a total value of $199,962.90. Following the completion of the transaction, the executive vice president now owns 639 shares in the company, valued at $198,102.78. The disclosure for this sale can be found here. Insiders have sold 23,640 shares of company stock worth $7,006,015 in the last quarter. 3.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on IT shares. Barclays increased their price target on Gartner from $265.00 to $315.00 and gave the company an “equal weight” rating in a research report on Thursday, August 4th. Wells Fargo & Company increased their price target on Gartner from $305.00 to $345.00 and gave the company an “overweight” rating in a research report on Wednesday, August 3rd. BMO Capital Markets reduced their price target on Gartner from $315.00 to $265.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 21st. TheStreet raised Gartner from a “c+” rating to a “b-” rating in a research report on Wednesday, August 17th. Finally, Morgan Stanley increased their price target on Gartner from $274.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 3rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $321.67.

Gartner Price Performance

Shares of NYSE IT opened at $300.08 on Monday. The company has a debt-to-equity ratio of 20.79, a quick ratio of 0.62 and a current ratio of 0.62. Gartner, Inc. has a fifty-two week low of $221.39 and a fifty-two week high of $368.99. The firm has a market capitalization of $23.73 billion, a PE ratio of 33.83, a price-to-earnings-growth ratio of 2.97 and a beta of 1.40. The stock’s 50-day simple moving average is $283.87 and its 200-day simple moving average is $274.60.

Gartner (NYSE:ITGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The information technology services provider reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.70. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.32 billion. Gartner had a return on equity of 497.67% and a net margin of 14.42%. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.24 EPS. As a group, equities research analysts forecast that Gartner, Inc. will post 9.08 EPS for the current fiscal year.

About Gartner

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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.

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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