Nuveen LLC Makes New Investment in Gartner, Inc. (NYSE:IT)

Nuveen LLC acquired a new position in shares of Gartner, Inc. (NYSE:IT) during the first quarter, HoldingsChannel reports. The institutional investor acquired 305,708 shares of the information technology services provider’s stock, valued at approximately $128,318,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IT. Cary Street Partners Financial LLC acquired a new stake in Gartner during the fourth quarter worth approximately $27,000. Itau Unibanco Holding S.A. raised its holdings 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 in the last quarter. Olde Wealth Management LLC acquired a new stake in Gartner during the first quarter worth approximately $42,000. GW&K Investment Management LLC increased its holdings in shares of Gartner by 210.8% in the 1st quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 78 shares during the period. Finally, Wayfinding Financial LLC acquired a new position in shares of Gartner in the 1st quarter valued at $55,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Activity at Gartner

In related news, EVP Akhil Jain sold 625 shares of the business’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $450.00, for a total value of $281,250.00. Following the completion of the transaction, the executive vice president owned 6,548 shares of the company’s stock, valued at approximately $2,946,600. The trade was a 8.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IT. BMO Capital Markets cut their target price on shares of Gartner from $409.00 to $272.00 and set a “market perform” rating on the stock in a report on Wednesday, August 6th. The Goldman Sachs Group cut their target price on shares of Gartner from $535.00 to $457.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Barclays cut their target price on shares of Gartner from $475.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, August 6th. UBS Group reissued a “neutral” rating and issued a $270.00 price objective (down from $480.00) on shares of Gartner in a research note on Wednesday, August 6th. Finally, Morgan Stanley dropped their price objective on shares of Gartner from $455.00 to $322.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Gartner presently has an average rating of “Hold” and an average target price of $369.25.

Gartner Price Performance

Shares of NYSE IT opened at $226.00 on Tuesday. Gartner, Inc. has a one year low of $225.78 and a one year high of $584.01. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11. The company’s fifty day moving average is $371.31 and its two-hundred day moving average is $425.49. The firm has a market capitalization of $17.39 billion, a P/E ratio of 13.91 and a beta of 1.19.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, topping the consensus estimate of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the firm earned $3.22 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts forecast that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

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.