Natixis Advisors LLC Acquires 108,061 Shares of Gartner, Inc. (NYSE:IT)

Natixis Advisors LLC grew its holdings in shares of Gartner, Inc. (NYSE:IT) by 117.4% in the second quarter, HoldingsChannel reports. The fund owned 200,097 shares of the information technology services provider’s stock after purchasing an additional 108,061 shares during the quarter. Natixis Advisors LLC’s holdings in Gartner were worth $89,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of IT. Norges Bank bought a new position in Gartner in the 4th quarter worth $388,781,000. First Trust Advisors LP boosted its holdings in Gartner by 830.4% in the 4th quarter. First Trust Advisors LP now owns 514,230 shares of the information technology services provider’s stock worth $231,974,000 after buying an additional 458,963 shares during the period. Principal Financial Group Inc. boosted its holdings in Gartner by 22.0% in the 2nd quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock worth $852,014,000 after buying an additional 341,911 shares during the period. Wellington Management Group LLP boosted its holdings in Gartner by 12.0% in the 4th quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock worth $835,826,000 after buying an additional 198,274 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Gartner by 18.5% in the 4th quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock worth $415,344,000 after buying an additional 143,556 shares during the period. Institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

Shares of NYSE IT traded up $6.08 during mid-day trading on Friday, hitting $491.96. 418,196 shares of the company’s stock traded hands, compared to its average volume of 284,982. The company’s 50-day moving average is $467.82 and its two-hundred day moving average is $457.76. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $37.91 billion, a P/E ratio of 48.95, a PEG ratio of 3.83 and a beta of 1.33. Gartner, Inc. has a 1 year low of $323.61 and a 1 year high of $509.15.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.20. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.85 EPS. On average, equities analysts anticipate that Gartner, Inc. will post 11.59 EPS for the current fiscal year.

Insider Buying and Selling

In other Gartner news, CEO Eugene A. Hall sold 12,082 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $504.84, for a total value of $6,099,476.88. Following the transaction, the chief executive officer now directly owns 1,143,389 shares in the company, valued at approximately $577,228,502.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Eugene A. Hall sold 12,082 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $504.84, for a total transaction of $6,099,476.88. Following the transaction, the chief executive officer now directly owns 1,143,389 shares in the company, valued at $577,228,502.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Alwyn Dawkins sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total transaction of $505,490.00. Following the transaction, the executive vice president now owns 56,650 shares in the company, valued at $28,636,008.50. The disclosure for this sale can be found here. Insiders have sold 33,123 shares of company stock valued at $15,796,036 in the last ninety days. 3.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Robert W. Baird upped their target price on shares of Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. BMO Capital Markets boosted their price target on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Bank of America boosted their price target on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley boosted their price target on shares of Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Finally, UBS Group boosted their price target on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $521.00.

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.