Nomura Asset Management Co. Ltd. Buys 1,380 Shares of Gartner, Inc. (NYSE:IT)

Nomura Asset Management Co. Ltd. raised its position in shares of Gartner, Inc. (NYSE:IT) by 3.3% during the fourth quarter, HoldingsChannel reports. The fund owned 42,636 shares of the information technology services provider’s stock after acquiring an additional 1,380 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Gartner were worth $20,656,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in IT. Norges Bank bought a new stake in shares of Gartner during the 4th quarter worth approximately $460,541,000. Madison Investment Advisors LLC purchased a new stake in Gartner in the fourth quarter worth $244,799,000. Raymond James Financial Inc. bought a new stake in shares of Gartner during the fourth quarter worth $165,476,000. Fisher Funds Management LTD purchased a new stake in shares of Gartner during the fourth quarter valued at $97,518,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Gartner in the fourth quarter worth about $95,762,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

Shares of IT stock opened at $418.57 on Friday. The stock’s 50-day moving average is $494.18 and its 200 day moving average is $505.57. 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. The company has a market cap of $32.15 billion, a P/E ratio of 26.11, a PEG ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last released its quarterly earnings results 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. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business earned $3.04 EPS. Research analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Transactions at Gartner

In other Gartner news, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the sale, the director now owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. The trade was a 42.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction 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 represents 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Morgan Stanley decreased their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. 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, March 21st. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. UBS Group lowered their target price on Gartner from $565.00 to $500.00 and set a “buy” rating for the company in a report on Tuesday, March 25th. Finally, Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $525.00 to $600.00 in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.