Federated Hermes Inc. Increases Stock Holdings in Gartner, Inc. (NYSE:IT)

Federated Hermes Inc. boosted its stake in Gartner, Inc. (NYSE:IT) by 165.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 170,709 shares of the information technology services provider’s stock after buying an additional 106,514 shares during the quarter. Federated Hermes Inc. owned approximately 0.22% of Gartner worth $82,703,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in shares of Gartner by 5.5% in 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 buying an additional 103,814 shares during the last quarter. Verition Fund Management LLC boosted its position in Gartner by 2.6% in the third quarter. Verition Fund Management LLC now owns 2,370 shares of the information technology services provider’s stock worth $1,201,000 after purchasing an additional 60 shares during the last quarter. HighTower Advisors LLC grew its stake in Gartner by 4.6% in the 3rd quarter. HighTower Advisors LLC now owns 27,508 shares of the information technology services provider’s stock valued at $14,168,000 after purchasing an additional 1,212 shares during the period. Janus Henderson Group PLC increased its position in shares of Gartner by 3.5% during the 3rd quarter. Janus Henderson Group PLC now owns 10,630 shares of the information technology services provider’s stock valued at $5,388,000 after purchasing an additional 360 shares during the last quarter. Finally, IHT Wealth Management LLC bought a new stake in shares of Gartner during the 3rd quarter worth $218,000. 91.51% of the stock is currently owned by institutional investors.

Insider Transactions at Gartner

In other Gartner news, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of the transaction, the senior vice president now owns 3,259 shares of the company’s stock, valued at $1,728,932.09. The trade was a 2.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the sale, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Gartner Stock Performance

Shares of IT opened at $383.12 on Monday. Gartner, Inc. has a 52-week low of $382.23 and a 52-week high of $584.01. The stock’s 50-day simple moving average is $482.71 and its 200 day simple moving average is $502.12. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $29.43 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 3.30 and a beta of 1.26.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $2.23. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.04 earnings per share. Research analysts forecast that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Robert W. Baird decreased their price target on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Barclays dropped their price objective on Gartner from $600.00 to $510.00 and set an “overweight” rating on the stock in a research note on Friday. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. Finally, Wells Fargo & Company dropped their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $525.38.

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.