Principal Securities Inc. Makes New Investment in Gartner, Inc. (NYSE:IT)

Principal Securities Inc. bought a new stake in shares of Gartner, Inc. (NYSE:ITFree Report) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 1,567 shares of the information technology services provider’s stock, valued at approximately $707,000.

Other large investors have also added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in shares of Gartner during the 3rd quarter worth approximately $25,000. BKM Wealth Management LLC acquired a new stake in Gartner in the fourth quarter worth $26,000. MCF Advisors LLC acquired a new stake in Gartner in the fourth quarter worth $27,000. VisionPoint Advisory Group LLC raised its holdings in shares of Gartner by 254.2% during the third quarter. VisionPoint Advisory Group LLC now owns 85 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 61 shares during the period. Finally, Cary Street Partners Investment Advisory LLC boosted its position in shares of Gartner by 357.9% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 87 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on IT shares. Deutsche Bank Aktiengesellschaft started coverage on Gartner in a research report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 target price for the company. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday. BMO Capital Markets dropped their target price on Gartner from $450.00 to $432.00 and set a “market perform” rating on the stock in a report on Thursday, May 2nd. UBS Group decreased their price target on Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, Morgan Stanley raised their price objective on Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $474.50.

Check Out Our Latest Stock Report on IT

Gartner Stock Performance

IT stock opened at $439.27 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.42. The firm has a market cap of $34.25 billion, a PE ratio of 43.71, a P/E/G ratio of 3.52 and a beta of 1.32. The business has a 50 day moving average of $459.69 and a 200-day moving average of $444.84. Gartner, Inc. has a 12-month low of $303.10 and a 12-month high of $486.54.

Gartner (NYSE:ITGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.40. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the prior year, the company earned $2.88 EPS. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, sell-side analysts expect that Gartner, Inc. will post 11.55 earnings per share for the current year.

Insider Activity at Gartner

In other Gartner news, EVP Claire Herkes sold 1,460 shares of Gartner stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $475.76, for a total value of $694,609.60. Following the sale, the executive vice president now owns 2,842 shares of the company’s stock, valued at $1,352,109.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Gartner news, EVP Claire Herkes sold 1,460 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $475.76, for a total value of $694,609.60. Following the completion of the sale, the executive vice president now directly owns 2,842 shares of the company’s stock, valued at $1,352,109.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James C. Smith sold 5,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $455.00, for a total value of $2,275,000.00. Following the transaction, the director now directly owns 638,235 shares in the company, valued at approximately $290,396,925. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,952 shares of company stock worth $10,598,070. 3.60% of the stock is owned by company insiders.

Gartner Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding IT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gartner, Inc. (NYSE:ITFree Report).

Institutional Ownership by Quarter for Gartner (NYSE:IT)

Receive News & Ratings for Gartner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gartner and related companies with MarketBeat.com's FREE daily email newsletter.