Entropy Technologies LP Takes Position in Gartner, Inc. (NYSE:IT)

Entropy Technologies LP acquired a new stake in Gartner, Inc. (NYSE:IT) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 756 shares of the information technology services provider’s stock, valued at approximately $366,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp increased its position in shares of Gartner by 1.1% during the third quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock worth $1,650,697,000 after purchasing an additional 36,258 shares in the last quarter. Geode Capital Management LLC boosted its stake in Gartner by 1.9% during the third quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider’s stock worth $1,020,378,000 after buying an additional 36,698 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Gartner by 5.5% during the third 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 buying an additional 103,814 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Gartner by 7.3% during the third quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock worth $525,272,000 after buying an additional 70,236 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Gartner by 3.3% in the 3rd quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider’s stock valued at $422,678,000 after purchasing an additional 25,315 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of the sale, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James C. Smith sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $524.02, for a total value of $2,620,100.00. Following the completion of the sale, the director now directly owns 509,457 shares of the company’s stock, valued at $266,965,657.14. This represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,690 shares of company stock valued at $2,981,025. 3.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday. Robert W. Baird boosted their price objective on Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Wells Fargo & Company cut their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a report on Friday, January 10th. Morgan Stanley cut their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Finally, Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $525.00 to $600.00 in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Gartner presently has a consensus rating of “Hold” and an average price target of $552.63.

Gartner Stock Down 1.6 %

Shares of NYSE IT opened at $514.02 on Thursday. The stock has a market cap of $39.65 billion, a PE ratio of 32.07, a price-to-earnings-growth ratio of 3.50 and a beta of 1.34. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $584.01. The business has a 50-day moving average price of $510.12 and a 200 day moving average price of $507.95.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $2.23. Gartner had a return on equity of 136.32% 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 period last year, the firm earned $3.04 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities research analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current year.

Gartner Company 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.