Gartner, Inc. (NYSE:IT) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in Gartner, Inc. (NYSE:IT) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,001,142 shares of the information technology services provider’s stock after purchasing an additional 103,814 shares during the period. Principal Financial Group Inc. owned approximately 2.58% of Gartner worth $1,014,099,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in IT. Eastern Bank purchased a new position in shares of Gartner in the third quarter valued at $26,000. Central Pacific Bank Trust Division acquired a new position in Gartner during the first quarter worth about $36,000. Crewe Advisors LLC raised its position in Gartner by 223.3% during the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after acquiring an additional 67 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Gartner by 23.8% in the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after purchasing an additional 20 shares in the last quarter. Finally, J.Safra Asset Management Corp increased its stake in shares of Gartner by 58.7% during the 1st quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock worth $70,000 after purchasing an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Activity

In other Gartner news, EVP Akhil Jain sold 400 shares of Gartner stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $485.00, for a total transaction of $194,000.00. Following the sale, the executive vice president now directly owns 4,839 shares in the company, valued at $2,346,915. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Gartner news, EVP Akhil Jain sold 400 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $485.00, for a total transaction of $194,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,839 shares of the company’s stock, valued at $2,346,915. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Yvonne Genovese sold 443 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $483.62, for a total transaction of $214,243.66. Following the completion of the sale, the executive vice president now owns 1,959 shares in the company, valued at approximately $947,411.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,899 shares of company stock worth $24,959,886 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on IT. BMO Capital Markets upped their target price on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Morgan Stanley increased their price objective on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Bank of America boosted their target price on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Wells Fargo & Company upped their price objective on shares of Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $539.25.

Gartner Trading Up 4.6 %

Shares of IT opened at $536.90 on Thursday. The stock has a market cap of $41.37 billion, a PE ratio of 51.13, a P/E/G ratio of 3.14 and a beta of 1.32. Gartner, Inc. has a 12 month low of $392.49 and a 12 month high of $542.13. The stock’s 50-day moving average is $510.44 and its two-hundred day moving average is $473.06. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.05. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.56 earnings per share. Equities analysts forecast that Gartner, Inc. will post 11.65 earnings per share for the current fiscal year.

About Gartner

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.