Blueshift Asset Management LLC Purchases New Position in Gartner, Inc. (NYSE:IT)

Blueshift Asset Management LLC acquired a new position in shares of Gartner, Inc. (NYSE:IT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,919 shares of the information technology services provider’s stock, valued at approximately $972,000.

Several other institutional investors have also modified their holdings of IT. Baron Wealth Management LLC grew its position in shares of Gartner by 4.1% in the 3rd quarter. Baron Wealth Management LLC now owns 481 shares of the information technology services provider’s stock valued at $244,000 after buying an additional 19 shares during the last quarter. Fortitude Family Office LLC grew its holdings in shares of Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after purchasing an additional 20 shares during the last quarter. Moors & Cabot Inc. increased its position in shares of Gartner by 3.0% during the second quarter. Moors & Cabot Inc. now owns 763 shares of the information technology services provider’s stock worth $343,000 after purchasing an additional 22 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Gartner by 2.2% in the 2nd quarter. Mather Group LLC. now owns 1,079 shares of the information technology services provider’s stock valued at $514,000 after purchasing an additional 23 shares during the last quarter. Finally, Wallace Advisory Group LLC grew its stake in Gartner by 2.4% during the 2nd quarter. Wallace Advisory Group LLC now owns 980 shares of the information technology services provider’s stock worth $440,000 after buying an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other news, EVP Scott Hensel sold 5,580 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $490.00, for a total transaction of $2,734,200.00. Following the completion of the transaction, the executive vice president now directly owns 19,724 shares of the company’s stock, valued at $9,664,760. This trade represents a 22.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Eugene A. Hall sold 34,060 shares of Gartner stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total value of $17,213,924.00. Following the transaction, the chief executive officer now owns 1,143,401 shares of the company’s stock, valued at $577,874,865.40. This represents a 2.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,729 shares of company stock worth $37,809,011 in the last quarter. Company insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays boosted their price objective on Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. BMO Capital Markets boosted their price target on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. UBS Group increased their price objective on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Bank of America upped their price target on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $539.25.

Gartner Trading Up 0.8 %

Shares of IT stock opened at $523.13 on Wednesday. The business’s fifty day moving average price is $520.24 and its 200 day moving average price is $482.02. The firm has a market capitalization of $40.35 billion, a PE ratio of 38.58, a P/E/G ratio of 3.24 and a beta of 1.32. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $559.00.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the firm earned $2.56 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts forecast that Gartner, Inc. will post 11.89 EPS for the current fiscal year.

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.