579 Shares in Gartner, Inc. $IT Bought by Mission Wealth Management LP

Mission Wealth Management LP purchased a new position in Gartner, Inc. (NYSE:IT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 579 shares of the information technology services provider’s stock, valued at approximately $234,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IT. T. Rowe Price Investment Management Inc. increased its holdings in Gartner by 692.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,066,732 shares of the information technology services provider’s stock worth $447,751,000 after acquiring an additional 932,077 shares in the last quarter. Nuveen LLC purchased a new stake in Gartner in the 1st quarter worth $128,318,000. JPMorgan Chase & Co. increased its holdings in Gartner by 20.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider’s stock worth $522,813,000 after acquiring an additional 211,842 shares in the last quarter. Generation Investment Management LLP increased its holdings in Gartner by 16.5% in the 1st quarter. Generation Investment Management LLP now owns 1,341,342 shares of the information technology services provider’s stock worth $563,015,000 after acquiring an additional 189,514 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Gartner by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 9,433,449 shares of the information technology services provider’s stock worth $3,959,596,000 after acquiring an additional 164,810 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

Gartner stock opened at $226.71 on Wednesday. Gartner, Inc. has a 52-week low of $223.23 and a 52-week high of $584.01. The firm has a market capitalization of $17.17 billion, a price-to-earnings ratio of 13.95 and a beta of 1.20. The company has a fifty day simple moving average of $249.19 and a 200-day simple moving average of $331.50. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share for the quarter, beating the consensus estimate of $3.38 by $0.15. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.22 EPS. On average, equities analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wolfe Research assumed coverage on shares of Gartner in a report on Wednesday, September 3rd. They issued a “peer perform” rating for the company. William Blair reissued an “outperform” rating on shares of Gartner in a report on Tuesday, October 21st. Morgan Stanley set a $307.00 target price on shares of Gartner in a report on Monday, October 13th. Wells Fargo & Company upped their target price on shares of Gartner from $225.00 to $231.00 and gave the stock an “underweight” rating in a report on Wednesday, October 29th. Finally, The Goldman Sachs Group dropped their target price on shares of Gartner from $535.00 to $457.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $346.80.

Insider Activity

In other news, SVP John J. Rinello sold 105 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $249.71, for a total transaction of $26,219.55. Following the transaction, the senior vice president owned 3,225 shares of the company’s stock, valued at approximately $805,314.75. The trade was a 3.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jose M. Gutierrez purchased 417 shares of the stock in a transaction dated Monday, August 18th. The shares were purchased at an average cost of $239.80 per share, for a total transaction of $99,996.60. Following the transaction, the director owned 2,080 shares in the company, valued at approximately $498,784. The trade was a 25.08% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 2.30% of the company’s stock.

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.