UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Position in Gartner, Inc. (NYSE:IT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Gartner, Inc. (NYSE:IT) by 12.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 649,567 shares of the information technology services provider’s stock after acquiring an additional 74,422 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.84% of Gartner worth $314,696,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Cary Street Partners Financial LLC purchased a new position in shares of Gartner during the 4th quarter worth about $27,000. Kestra Investment Management LLC acquired a new position in Gartner during the fourth quarter worth approximately $29,000. Itau Unibanco Holding S.A. raised its stake in Gartner by 453.3% during the fourth quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider’s stock worth $40,000 after purchasing an additional 68 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Gartner in the 4th quarter valued at $49,000. Finally, Promus Capital LLC purchased a new stake in shares of Gartner during the 4th quarter valued at $57,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Eileen Serra sold 1,200 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the transaction, the director now directly owns 1,627 shares in the company, valued at approximately $796,855.79. This represents a 42.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Craig Safian sold 3,415 shares of Gartner stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $450.17, for a total transaction of $1,537,330.55. Following the completion of the sale, the chief financial officer now owns 77,890 shares of the company’s stock, valued at approximately $35,063,741.30. This trade represents a 4.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,626 shares of company stock worth $3,018,051 in the last quarter. 2.30% of the stock is owned by corporate insiders.

Gartner Stock Performance

Gartner stock opened at $443.50 on Thursday. The firm has a market capitalization of $34.13 billion, a PE ratio of 27.67, a price-to-earnings-growth ratio of 3.30 and a beta of 1.24. Gartner, Inc. has a one year low of $366.05 and a one year high of $584.01. The stock’s 50 day moving average price is $420.25 and its 200 day moving average price is $478.72. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.26. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.93 earnings per share. As a group, sell-side analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on IT shares. Barclays cut their target price on Gartner from $510.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Robert W. Baird cut their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. The Goldman Sachs Group decreased 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. Wells Fargo & Company cut their price target on shares of Gartner from $401.00 to $400.00 and set an “underweight” rating on the stock in a report on Thursday, May 1st. Finally, StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Gartner currently has an average rating of “Hold” and a consensus price target of $518.67.

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.