Quantbot Technologies LP Acquires Shares of 13,945 Gartner, Inc. (NYSE:IT)

Quantbot Technologies LP bought a new stake in shares of Gartner, Inc. (NYSE:IT) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 13,945 shares of the information technology services provider’s stock, valued at approximately $6,756,000.

Other large investors also recently added to or reduced their stakes in the company. Madison Investment Advisors LLC bought a new position in shares of Gartner in the 4th quarter worth $244,799,000. Raymond James Financial Inc. bought a new position in Gartner during the fourth quarter worth about $165,476,000. Fisher Funds Management LTD acquired a new position in shares of Gartner during the 4th quarter worth about $97,518,000. Proficio Capital Partners LLC bought a new stake in shares of Gartner in the 4th quarter valued at about $95,762,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Gartner by 208.4% in the 4th 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 acquiring an additional 183,974 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on IT. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $525.00 to $600.00 in a report on Friday, January 10th. Morgan Stanley lowered their price objective 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. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a report on Friday. Robert W. Baird lowered their price target on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a report on Friday. Finally, Wells Fargo & Company dropped their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $546.63.

Insider Transactions at Gartner

In related news, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. The trade was a 2.69 % 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, Director Eileen Serra sold 1,200 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the transaction, the director now directly owns 1,627 shares of the company’s stock, valued at $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.

Gartner Stock Performance

IT opened at $430.03 on Friday. The company has a market capitalization of $33.03 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 3.30 and a beta of 1.29. The business’s 50-day moving average price is $502.37 and its two-hundred day moving average price is $507.66. Gartner, Inc. has a 1 year low of $409.50 and a 1 year high of $584.01. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06.

Gartner (NYSE:IT) last announced its 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. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The business 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 earned $3.04 EPS. Gartner’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

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.