Gartner, Inc. $IT Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Gartner, Inc. (NYSE:IT) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 17,014 shares of the information technology services provider’s stock, valued at approximately $3,174,000.

A number of other hedge funds have also bought and sold shares of IT. Bamco Inc. NY bought a new stake in Gartner in the second quarter worth about $985,243,000. BlackRock Inc. bought a new position in Gartner during the second quarter valued at $676,246,000. Bank of America Corp DE bought a new position in Gartner during the second quarter valued at $117,661,000. Madison Asset Management LLC purchased a new stake in Gartner in the second quarter worth $74,481,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Gartner during the 2nd quarter valued at $51,262,000. 91.51% of the stock is currently owned by institutional investors.

Gartner Price Performance

NYSE:IT traded down $7.99 during trading hours on Friday, hitting $190.09. 1,360,527 shares of the company’s stock traded hands, compared to its average volume of 994,717. Gartner, Inc. has a 52 week low of $124.25 and a 52 week high of $256.89. The business’s fifty day simple moving average is $197.27 and its two-hundred day simple moving average is $169.57. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 46.98. The firm has a market cap of $12.00 billion, a P/E ratio of 13.55, a P/E/G ratio of 0.89 and a beta of 0.92.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, November 3rd. The information technology services provider reported $3.59 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.75. Gartner had a return on equity of 525.46% and a net margin of 11.99%. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the firm posted $2.76 EPS. The company’s revenue was down 1.2% compared to the same quarter last year. On average, research analysts anticipate that Gartner, Inc. will post 15.02 earnings per share for the current fiscal year.

Insider Transactions at Gartner

In related news, EVP Robin B. Kranich sold 3,278 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $196.50, for a total value of $644,127.00. Following the completion of the transaction, the executive vice president directly owned 20,358 shares in the company, valued at approximately $4,000,347. The trade was a 13.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Akhil Jain sold 700 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $201.73, for a total value of $141,211.00. Following the completion of the transaction, the executive vice president directly owned 8,130 shares in the company, valued at approximately $1,640,064.90. This represents a 7.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 5,183 shares of company stock valued at $1,014,360 in the last quarter. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on IT. Morgan Stanley upped their price target on shares of Gartner from $182.00 to $192.00 and gave the company an “equal weight” rating in a research note on Wednesday. Zacks Research downgraded Gartner from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. The Goldman Sachs Group raised their price target on Gartner from $181.00 to $207.00 and gave the stock a “neutral” rating in a report on Wednesday. Barclays cut Gartner from an “equal weight” rating to an “underweight” rating and lifted their price target for the company from $150.00 to $185.00 in a research report on Friday. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $198.00 price objective on shares of Gartner in a research note on Tuesday, October 20th. Seven investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $206.20.

Gartner Company Profile

Gartner, Inc is a global research and advisory company that provides information, analysis and guidance to business leaders, technology professionals and public-sector organizations. Its work focuses on helping clients evaluate technology markets, develop business strategies, manage risk and make decisions about digital transformation and other organizational priorities.

The company delivers its services through research and advisory programs, consulting engagements, executive guidance and conferences.