OLD Mission Capital LLC Takes Position in Gartner, Inc. (NYSE:IT)

OLD Mission Capital LLC acquired a new position in Gartner, Inc. (NYSE:IT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,575 shares of the information technology services provider’s stock, valued at approximately $1,732,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in Gartner by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 2,063,577 shares of the information technology services provider’s stock valued at $998,400,000 after buying an additional 45,219 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Gartner by 7.0% in the 4th quarter. Franklin Resources Inc. now owns 857,639 shares of the information technology services provider’s stock valued at $415,500,000 after acquiring an additional 56,050 shares in the last quarter. B. Metzler seel. Sohn & Co. AG lifted its holdings in Gartner by 0.6% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 73,035 shares of the information technology services provider’s stock worth $35,377,000 after purchasing an additional 439 shares during the last quarter. Axiom Investors LLC DE boosted its position in Gartner by 10.6% during the fourth quarter. Axiom Investors LLC DE now owns 305,335 shares of the information technology services provider’s stock worth $147,926,000 after purchasing an additional 29,272 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Gartner by 12.7% during the fourth quarter. Wellington Management Group LLP now owns 1,662,005 shares of the information technology services provider’s stock valued at $805,192,000 after purchasing an additional 187,854 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

IT has been the topic of several research analyst reports. Wells Fargo & Company lowered their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research report on Friday, January 10th. Morgan Stanley dropped their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. Finally, UBS Group reduced their price target on shares of Gartner from $565.00 to $500.00 and set a “buy” rating for the company in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $536.63.

Gartner Trading Up 2.4 %

Shares of IT stock opened at $423.83 on Thursday. The firm has a fifty day moving average of $488.00 and a 200-day moving average of $503.76. The stock has a market cap of $32.56 billion, a price-to-earnings ratio of 26.44, a P/E/G ratio of 3.30 and a beta of 1.29. Gartner, Inc. has a 52-week low of $409.00 and a 52-week high of $584.01. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS 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 business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the previous year, the firm earned $3.04 EPS. Gartner’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities research analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Transactions at Gartner

In related news, Director Eileen Serra sold 1,200 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the sale, the director now directly owns 1,627 shares in the company, valued at $796,855.79. This represents a 42.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of the transaction, the senior vice president now owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. The trade was a 2.69 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

About Gartner

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.