JPMorgan Chase & Co. Purchases 70,236 Shares of Gartner, Inc. (NYSE:IT)

JPMorgan Chase & Co. lifted its position in Gartner, Inc. (NYSE:IT) by 7.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,036,530 shares of the information technology services provider’s stock after buying an additional 70,236 shares during the period. JPMorgan Chase & Co.’s holdings in Gartner were worth $525,272,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in IT. Sustainable Growth Advisers LP bought a new position in Gartner in the second quarter valued at approximately $266,541,000. Point72 Asset Management L.P. bought a new stake in Gartner in the 3rd quarter valued at $70,955,000. Natixis Advisors LLC boosted its stake in Gartner by 117.4% in the 2nd quarter. Natixis Advisors LLC now owns 200,097 shares of the information technology services provider’s stock worth $89,856,000 after purchasing an additional 108,061 shares during the period. Principal Financial Group Inc. increased its holdings in Gartner by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after purchasing an additional 103,814 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Gartner in the 3rd quarter valued at about $36,789,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Stock Performance

Shares of NYSE IT opened at $486.96 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The company has a market capitalization of $37.56 billion, a P/E ratio of 35.91, a P/E/G ratio of 3.24 and a beta of 1.31. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $559.00. The stock has a 50 day moving average of $515.35 and a 200-day moving average of $492.75.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.56 earnings per share. As a group, equities research analysts predict that Gartner, Inc. will post 11.89 EPS for the current year.

Insider Buying and Selling at Gartner

In other Gartner news, EVP William James Wartinbee III sold 189 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $523.54, for a total transaction of $98,949.06. Following the transaction, the executive vice president now owns 7,311 shares in the company, valued at $3,827,600.94. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James C. Smith sold 17,533 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $547.09, for a total transaction of $9,592,128.97. Following the completion of the transaction, the director now owns 532,294 shares in the company, valued at $291,212,724.46. This trade represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,583 shares of company stock valued at $19,241,974 in the last three months. 3.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on IT. Deutsche Bank Aktiengesellschaft lifted their target price on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Wells Fargo & Company increased their target price on shares of Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Robert W. Baird boosted their price target on shares of Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Morgan Stanley raised their price objective on Gartner from $560.00 to $564.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $543.75.

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.