Allstate Corp Acquires New Shares in Gartner, Inc. (NYSE:IT)

Allstate Corp bought a new stake in Gartner, Inc. (NYSE:IT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,251 shares of the information technology services provider’s stock, valued at approximately $1,091,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new position in shares of Gartner during the fourth quarter worth $29,000. SBI Securities Co. Ltd. acquired a new stake in Gartner during the 4th quarter worth $49,000. True Wealth Design LLC lifted its holdings in Gartner by 2,350.0% during the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after acquiring an additional 94 shares in the last quarter. Promus Capital LLC acquired a new position in Gartner in the fourth quarter valued at about $57,000. Finally, Global Retirement Partners LLC increased its holdings in shares of Gartner by 14.0% in the fourth quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock worth $134,000 after acquiring an additional 34 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Insiders Place Their Bets

In other news, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the transaction, the director now directly owns 1,627 shares in the company, valued at $796,855.79. The trade was a 42.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Gartner Stock Down 1.5 %

Gartner stock opened at $418.57 on Monday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. Gartner, Inc. has a 1-year low of $409.50 and a 1-year high of $584.01. The company has a fifty day simple moving average of $494.18 and a 200 day simple moving average of $505.61. The company has a market cap of $32.15 billion, a P/E ratio of 26.11, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating the consensus estimate of $3.22 by $2.23. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter last year, the company earned $3.04 EPS. Gartner’s revenue for the quarter was up 8.1% compared to the same quarter last year. Research analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IT. 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. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $525.00 to $600.00 in a report on Friday, January 10th. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Morgan Stanley cut their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Finally, Wells Fargo & Company lowered their target price on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Gartner presently has a consensus rating of “Hold” and a consensus target price of $536.63.

Gartner 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.