Gartner, Inc. (NYSE:IT) Position Increased by Occidental Asset Management LLC

Occidental Asset Management LLC raised its position in Gartner, Inc. (NYSE:IT) by 56.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 690 shares of the information technology services provider’s stock after purchasing an additional 249 shares during the quarter. Occidental Asset Management LLC’s holdings in Gartner were worth $334,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Gartner by 1.1% during the 3rd quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock valued at $1,650,697,000 after buying an additional 36,258 shares during the last quarter. Geode Capital Management LLC raised its position 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 valued at $1,020,378,000 after acquiring an additional 36,698 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Gartner by 5.5% in the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock valued at $1,014,099,000 after acquiring an additional 103,814 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Gartner by 7.3% in the third quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock valued at $525,272,000 after acquiring an additional 70,236 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Gartner by 3.3% in the third quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider’s stock worth $422,678,000 after acquiring an additional 25,315 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Gartner Price Performance

NYSE IT opened at $512.25 on Friday. The stock has a market capitalization of $39.51 billion, a PE ratio of 37.78, a P/E/G ratio of 2.72 and a beta of 1.33. The stock has a 50-day simple moving average of $508.12 and a 200 day simple moving average of $497.51. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $559.00.

Gartner (NYSE:IT) last posted its quarterly earnings data 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. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the business earned $2.56 earnings per share. Gartner’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts anticipate that Gartner, Inc. will post 11.87 EPS for the current year.

Insiders Place Their Bets

In other news, EVP William James Wartinbee III sold 189 shares of Gartner stock in a transaction that occurred 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 sale, the executive vice president now owns 7,311 shares of the company’s stock, valued at approximately $3,827,600.94. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James C. Smith sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $535.76, for a total value of $5,357,600.00. Following the completion of the transaction, the director now owns 554,274 shares of the company’s stock, valued at $296,957,838.24. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,583 shares of company stock worth $19,241,974 in the last ninety days. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on IT shares. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $525.00 to $600.00 in a report on Friday, January 10th. Wells Fargo & Company cut their target price 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 decreased their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Gartner currently has a consensus rating of “Hold” and a consensus price target of $550.75.

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.