Strive Asset Management LLC Takes Position in Gartner, Inc. (NYSE:IT)

Strive Asset Management LLC acquired a new position in Gartner, Inc. (NYSE:IT) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 676 shares of the information technology services provider’s stock, valued at approximately $328,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IT. Vanguard Group Inc. grew its position in Gartner by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 9,268,639 shares of the information technology services provider’s stock worth $4,490,378,000 after acquiring an additional 100,917 shares in the last quarter. FMR LLC lifted its stake in shares of Gartner by 8.6% in the 4th quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider’s stock valued at $1,367,233,000 after purchasing an additional 223,087 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Gartner by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 2,063,577 shares of the information technology services provider’s stock worth $998,400,000 after purchasing an additional 45,219 shares in the last quarter. Principal Financial Group Inc. increased its position in Gartner by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider’s stock worth $975,141,000 after buying an additional 11,657 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Gartner by 12.7% during the fourth quarter. Wellington Management Group LLP now owns 1,662,005 shares of the information technology services provider’s stock valued at $805,192,000 after buying an additional 187,854 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on IT shares. Barclays reduced their price target on Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. The Goldman Sachs Group reduced their target price on Gartner from $622.00 to $535.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. UBS Group increased their price target on Gartner from $500.00 to $525.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Wells Fargo & Company dropped their price target on shares of Gartner from $401.00 to $400.00 and set an “underweight” rating on the stock in a research report on Thursday, May 1st. Finally, Robert W. Baird decreased their price objective on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a report on Friday, March 21st. One research 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. According to data from MarketBeat, Gartner has a consensus rating of “Hold” and a consensus target price of $518.67.

Gartner Trading Up 0.3%

Shares of Gartner stock opened at $447.88 on Friday. Gartner, Inc. has a 1 year low of $366.05 and a 1 year high of $584.01. The company’s fifty day simple moving average is $420.79 and its 200-day simple moving average is $479.72. The company has a market cap of $34.41 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 3.30 and a beta of 1.24. 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 (NYSE:IT) last posted its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.26. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the business posted $2.93 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, sell-side analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Buying and Selling

In related news, EVP William James Wartinbee III sold 538 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $449.09, for a total value of $241,610.42. Following the completion of the transaction, the executive vice president now directly owns 7,965 shares of the company’s stock, valued at $3,577,001.85. This trade represents a 6.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John J. Rinello sold 109 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total transaction of $47,562.15. Following the completion of the sale, the senior vice president now directly owns 3,280 shares in the company, valued at $1,431,228. This trade represents a 3.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,001 shares of company stock valued at $2,736,801 over the last three months. 2.30% of the stock is owned by corporate insiders.

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.