Primecap Management Co. CA Buys 1,000 Shares of Gartner, Inc. (NYSE:IT)

Primecap Management Co. CA raised its stake in shares of Gartner, Inc. (NYSE:IT) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,800 shares of the information technology services provider’s stock after purchasing an additional 1,000 shares during the quarter. Primecap Management Co. CA owned 0.14% of Gartner worth $54,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Czech National Bank increased its stake in shares of Gartner by 6.5% in the fourth quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock worth $8,103,000 after buying an additional 1,028 shares during the period. Entropy Technologies LP bought a new stake in shares of Gartner during the 4th quarter valued at $366,000. D.A. Davidson & CO. boosted its stake in Gartner by 2.6% in the 4th quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider’s stock worth $551,000 after purchasing an additional 29 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in Gartner by 1.5% in the 4th quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider’s stock worth $15,322,000 after purchasing an additional 480 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Gartner by 15.5% in the 3rd quarter. Jennison Associates LLC now owns 105,769 shares of the information technology services provider’s stock worth $53,599,000 after purchasing an additional 14,167 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Gartner

In other news, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 1,627 shares of the company’s stock, valued at $796,855.79. The trade was a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

Gartner Stock Performance

NYSE IT opened at $446.75 on Wednesday. The stock has a market cap of $34.32 billion, a PE ratio of 27.87, a P/E/G ratio of 3.30 and a beta of 1.29. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $584.01. The stock has a fifty day simple moving average of $506.00 and a 200-day simple moving average of $509.15.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, March 5th. Robert W. Baird increased their price target on Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Finally, Morgan Stanley cut their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $552.63.

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.