Naples Money Management LLC Takes $451,000 Position in Gartner, Inc. (NYSE:IT)

Naples Money Management LLC bought a new position in Gartner, Inc. (NYSE:IT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,000 shares of the information technology services provider’s stock, valued at approximately $451,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IT. US Bancorp DE boosted its stake in Gartner by 6.0% during the first quarter. US Bancorp DE now owns 2,563 shares of the information technology services provider’s stock valued at $762,000 after buying an additional 144 shares during the last quarter. Aviva PLC grew its holdings in shares of Gartner by 53.3% in the first quarter. Aviva PLC now owns 42,028 shares of the information technology services provider’s stock valued at $12,502,000 after purchasing an additional 14,618 shares in the last quarter. Canada Pension Plan Investment Board increased its position in Gartner by 9.5% in the first quarter. Canada Pension Plan Investment Board now owns 27,043 shares of the information technology services provider’s stock worth $8,044,000 after purchasing an additional 2,347 shares during the last quarter. Allianz Asset Management GmbH raised its stake in Gartner by 25.2% during the first quarter. Allianz Asset Management GmbH now owns 98,889 shares of the information technology services provider’s stock valued at $29,415,000 after purchasing an additional 19,892 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Gartner by 1.1% during the first quarter. Vanguard Group Inc. now owns 9,198,161 shares of the information technology services provider’s stock valued at $2,736,085,000 after purchasing an additional 102,709 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. UBS Group upgraded Gartner from a “neutral” rating to a “buy” rating and upped their price objective for the company from $484.00 to $550.00 in a research report on Thursday, April 11th. Morgan Stanley lifted their target price on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. BMO Capital Markets increased their price target on Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a report on Thursday, February 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Gartner in a research report on Tuesday. They issued a “hold” rating and a $507.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $477.60.

Insider Buying and Selling

In other news, EVP Claire Herkes sold 1,460 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $475.76, for a total transaction of $694,609.60. Following the transaction, the executive vice president now directly owns 2,842 shares of the company’s stock, valued at $1,352,109.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Claire Herkes sold 1,460 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $475.76, for a total value of $694,609.60. Following the completion of the sale, the executive vice president now directly owns 2,842 shares of the company’s stock, valued at $1,352,109.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Valentin Sribar sold 682 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $453.00, for a total transaction of $308,946.00. Following the transaction, the executive vice president now directly owns 12,269 shares in the company, valued at approximately $5,557,857. The disclosure for this sale can be found here. Insiders have sold 22,952 shares of company stock valued at $10,598,070 in the last 90 days. Company insiders own 3.90% of the company’s stock.

Gartner Trading Down 2.1 %

Shares of NYSE IT traded down $9.23 during midday trading on Friday, hitting $440.38. The company’s stock had a trading volume of 445,342 shares, compared to its average volume of 390,795. Gartner, Inc. has a 12-month low of $292.60 and a 12-month high of $486.54. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.60. The firm has a market cap of $34.34 billion, a P/E ratio of 39.82, a price-to-earnings-growth ratio of 4.10 and a beta of 1.29. The business’s 50 day moving average is $465.07 and its two-hundred day moving average is $434.48.

Gartner (NYSE:IT) last released its earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.21. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter last year, the firm posted $3.70 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts expect that Gartner, Inc. will post 11.36 EPS for the current year.

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.