Mediolanum International Funds Ltd Acquires 231 Shares of Gartner, Inc. (NYSE:IT)

Mediolanum International Funds Ltd grew its stake in Gartner, Inc. (NYSE:IT) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,536 shares of the information technology services provider’s stock after purchasing an additional 231 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Gartner were worth $7,334,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. DAVENPORT & Co LLC grew its holdings in Gartner by 11.5% during the first quarter. DAVENPORT & Co LLC now owns 921 shares of the information technology services provider’s stock valued at $387,000 after purchasing an additional 95 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of Gartner by 0.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 3,379 shares of the information technology services provider’s stock worth $1,637,000 after acquiring an additional 30 shares in the last quarter. Three Seasons Wealth LLC acquired a new stake in Gartner in the 4th quarter valued at $731,000. SG Americas Securities LLC increased its position in shares of Gartner by 3.6% in the first quarter. SG Americas Securities LLC now owns 42,389 shares of the information technology services provider’s stock valued at $17,792,000 after acquiring an additional 1,484 shares during the last quarter. Finally, Brighton Jones LLC bought a new stake in shares of Gartner during the 4th quarter worth approximately $309,000. 91.51% of the stock is currently owned by institutional investors.

Gartner Stock Up 0.2%

Gartner stock opened at $356.83 on Friday. The company’s 50-day moving average price is $403.72 and its two-hundred day moving average price is $442.74. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.64. The stock has a market cap of $27.46 billion, a P/E ratio of 22.20, a P/E/G ratio of 2.31 and a beta of 1.19. Gartner, Inc. has a twelve month low of $352.29 and a twelve month high of $584.01.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.26. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Gartner had a return on equity of 96.70% and a net margin of 19.82%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.93 earnings per share. As a group, analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Activity

In other Gartner news, SVP John J. Rinello sold 109 shares of Gartner stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total value of $47,562.15. Following the completion of the sale, the senior vice president owned 3,280 shares in the company, valued at $1,431,228. The trade was a 3.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robin B. Kranich sold 739 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $436.50, for a total transaction of $322,573.50. Following the completion of the sale, the executive vice president directly owned 20,464 shares of the company’s stock, valued at $8,932,536. This represents a 3.49% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,426 shares of company stock worth $2,430,327. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IT. The Goldman Sachs Group decreased their price objective on shares of Gartner from $622.00 to $535.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Wells Fargo & Company reduced their price target on Gartner from $400.00 to $345.00 and set an “underweight” rating for the company in a report on Friday, July 18th. Barclays lowered their price target on Gartner from $510.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Finally, UBS Group cut their price objective on Gartner from $500.00 to $480.00 and set a “buy” rating for the company in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Gartner presently has an average rating of “Hold” and an average price target of $507.56.

Gartner Company 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.