2,201 Shares in Gartner, Inc. (NYSE:IT) Bought by Magnetar Financial LLC

Magnetar Financial LLC bought a new position in shares of Gartner, Inc. (NYSE:IT) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,201 shares of the information technology services provider’s stock, valued at approximately $1,049,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Gartner by 0.7% in the first quarter. Vanguard Group Inc. now owns 8,974,760 shares of the information technology services provider’s stock valued at $4,277,999,000 after acquiring an additional 60,786 shares during the last quarter. Wellington Management Group LLP increased its holdings in Gartner by 12.0% in the 4th 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 buying an additional 198,274 shares during the period. Principal Financial Group Inc. increased its holdings in Gartner by 0.7% in the 1st quarter. Principal Financial Group Inc. now owns 1,555,417 shares of the information technology services provider’s stock valued at $741,420,000 after buying an additional 10,718 shares during the period. Brown Advisory Inc. increased its holdings in Gartner by 4.6% in the 4th quarter. Brown Advisory Inc. now owns 1,208,914 shares of the information technology services provider’s stock valued at $545,353,000 after buying an additional 52,826 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Gartner by 18.5% in the 4th quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock valued at $415,344,000 after purchasing an additional 143,556 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IT. Deutsche Bank Aktiengesellschaft began coverage on shares of Gartner in a research note on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price target on the stock. Morgan Stanley raised their price target on shares of Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. UBS Group reduced their price target on shares of Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. BMO Capital Markets cut their target price on shares of Gartner from $450.00 to $432.00 and set a “market perform” rating on the stock in a research report on Thursday, May 2nd. Finally, Robert W. Baird dropped their price target on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Gartner presently has an average rating of “Hold” and an average price target of $478.50.

Gartner Stock Up 1.9 %

Shares of Gartner stock traded up $8.93 during trading on Friday, reaching $470.92. 424,650 shares of the company traded hands, compared to its average volume of 322,951. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91. Gartner, Inc. has a 1-year low of $323.61 and a 1-year high of $486.54. The company has a 50 day moving average price of $445.89 and a 200-day moving average price of $453.68. The firm has a market capitalization of $36.56 billion, a PE ratio of 46.86, a P/E/G ratio of 4.08 and a beta of 1.33.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.40. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the prior year, the company posted $2.88 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts expect that Gartner, Inc. will post 11.63 earnings per share for the current fiscal year.

Insider Activity

In other news, Director James C. Smith sold 10,000 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $455.20, for a total value of $4,552,000.00. Following the completion of the sale, the director now owns 608,369 shares in the company, valued at $276,929,568.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Yvonne Genovese sold 439 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $456.13, for a total transaction of $200,241.07. Following the completion of the transaction, the executive vice president now owns 1,959 shares in the company, valued at $893,558.67. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director James C. Smith sold 10,000 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $455.20, for a total transaction of $4,552,000.00. Following the transaction, the director now owns 608,369 shares of the company’s stock, valued at approximately $276,929,568.80. The disclosure for this sale can be found here. Insiders sold a total of 22,544 shares of company stock worth $10,079,813 over the last quarter. 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.