Gartner, Inc. (NYSE:IT) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in Gartner, Inc. (NYSE:IT) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,063,577 shares of the information technology services provider’s stock after buying an additional 45,219 shares during the quarter. Geode Capital Management LLC owned 2.68% of Gartner worth $998,400,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Gartner by 1.1% in 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 acquiring an additional 100,917 shares during the period. State Street Corp increased its holdings in shares of Gartner by 1.1% during the 3rd 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 purchasing an additional 36,258 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Gartner by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider’s stock valued at $975,141,000 after purchasing an additional 11,657 shares during the period. Wellington Management Group LLP boosted its holdings in Gartner by 12.7% during the fourth quarter. Wellington Management Group LLP now owns 1,662,005 shares of the information technology services provider’s stock worth $805,192,000 after buying an additional 187,854 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Gartner by 7.3% during 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 buying an additional 70,236 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Stock Performance

NYSE IT opened at $423.83 on Thursday. 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’s 50 day simple moving average is $488.00 and its 200-day simple moving average is $503.76. The company has a market cap of $32.56 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29. Gartner, Inc. has a 1-year low of $409.00 and a 1-year high of $584.01.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the firm posted $3.04 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, equities research analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Transactions 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 stock was 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 owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the transaction, the senior vice president now owns 3,259 shares in the company, valued at approximately $1,728,932.09. The trade was a 2.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

IT has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price objective 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. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $525.00 to $600.00 in a report on Friday, January 10th. Robert W. Baird reduced their target price on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Finally, StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $536.63.

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.