Acadian Asset Management LLC Acquires New Position in Gartner, Inc. (NYSE:IT)

Acadian Asset Management LLC bought a new stake in Gartner, Inc. (NYSE:IT) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,451 shares of the information technology services provider’s stock, valued at approximately $650,000.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Gartner by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 8,974,760 shares of the information technology services provider’s stock worth $4,277,999,000 after acquiring an additional 60,786 shares during the period. Principal Financial Group Inc. boosted its position in Gartner by 22.0% during the second quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock worth $852,014,000 after purchasing an additional 341,911 shares in the last quarter. Wellington Management Group LLP grew its holdings in Gartner by 12.0% in the fourth quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock valued at $835,826,000 after purchasing an additional 198,274 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Gartner by 18.5% in the fourth quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock valued at $415,344,000 after buying an additional 143,556 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Gartner during the 4th quarter worth $388,781,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. BMO Capital Markets raised their target price on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Robert W. Baird raised their price objective on shares of Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Bank of America raised their price target on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, UBS Group upped their price objective on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Gartner presently has a consensus rating of “Hold” and a consensus target price of $521.00.

Gartner Trading Down 0.5 %

Shares of IT opened at $507.35 on Wednesday. Gartner, Inc. has a fifty-two week low of $323.61 and a fifty-two week high of $515.09. The stock has a fifty day moving average of $478.23 and a two-hundred day moving average of $460.93. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $39.39 billion, a PE ratio of 50.48, a price-to-earnings-growth ratio of 3.89 and a beta of 1.32.

Gartner (NYSE:IT) last released its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.20. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.85 earnings per share. As a group, analysts forecast that Gartner, Inc. will post 11.59 EPS for the current year.

Insider Transactions at Gartner

In related news, CEO Eugene A. Hall sold 12,082 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $504.84, for a total value of $6,099,476.88. Following the completion of the sale, the chief executive officer now directly owns 1,143,389 shares in the company, valued at $577,228,502.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Akhil Jain sold 400 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $485.00, for a total value of $194,000.00. Following the transaction, the executive vice president now directly owns 4,839 shares in the company, valued at approximately $2,346,915. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Eugene A. Hall sold 12,082 shares of Gartner stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $504.84, for a total value of $6,099,476.88. Following the completion of the transaction, the chief executive officer now directly owns 1,143,389 shares in the company, valued at $577,228,502.76. The disclosure for this sale can be found here. Insiders have sold a total of 65,164 shares of company stock worth $32,601,014 in the last three months. Company insiders own 3.60% of the company’s stock.

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.