International Assets Investment Management LLC Invests $10.99 Million in Gartner, Inc. (NYSE:IT)

International Assets Investment Management LLC purchased a new position in Gartner, Inc. (NYSE:IT) in the fourth quarter, Holdings Channel reports. The fund purchased 24,360 shares of the information technology services provider’s stock, valued at approximately $10,989,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of IT. Principal Financial Group Inc. boosted its stake in Gartner by 30.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,565,046 shares of the information technology services provider’s stock valued at $537,766,000 after purchasing an additional 364,128 shares during the period. American Century Companies Inc. raised its stake in Gartner by 888.4% during the 3rd quarter. American Century Companies Inc. now owns 300,106 shares of the information technology services provider’s stock valued at $103,119,000 after acquiring an additional 269,744 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in Gartner during the 3rd quarter worth $83,588,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Gartner by 384.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 201,553 shares of the information technology services provider’s stock valued at $69,257,000 after purchasing an additional 159,989 shares during the period. Finally, Artisan Partners Limited Partnership bought a new stake in shares of Gartner during the third quarter valued at about $48,614,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Buying and Selling at Gartner

In other news, EVP Valentin Sribar sold 682 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $453.00, for a total transaction of $308,946.00. Following the completion of the sale, the executive vice president now directly owns 12,269 shares of the company’s stock, valued at approximately $5,557,857. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Valentin Sribar sold 682 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $453.00, for a total transaction of $308,946.00. Following the transaction, the executive vice president now owns 12,269 shares in the company, valued at approximately $5,557,857. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Claire Herkes sold 1,460 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $475.76, for a total transaction of $694,609.60. Following the transaction, the executive vice president now owns 2,842 shares in the company, valued at approximately $1,352,109.92. The disclosure for this sale can be found here. Insiders have sold 22,952 shares of company stock worth $10,598,070 over the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Gartner Price Performance

NYSE IT opened at $428.64 on Monday. The company has a 50 day simple moving average of $462.52 and a 200-day simple moving average of $441.53. Gartner, Inc. has a 52-week low of $295.43 and a 52-week high of $486.54. The firm has a market capitalization of $33.42 billion, a price-to-earnings ratio of 42.65, a price-to-earnings-growth ratio of 3.44 and a beta of 1.32. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.40. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the business posted $2.88 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities research analysts predict that Gartner, Inc. will post 11.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on IT shares. UBS Group cut their price target on shares of Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft started coverage on Gartner in a report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price target on the stock. Robert W. Baird decreased their target price on Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Morgan Stanley increased their price target on Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Finally, BMO Capital Markets reduced their price objective on shares of Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a research note on Thursday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $474.50.

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.