Choreo LLC Buys New Shares in Gartner, Inc. (NYSE:IT)

Choreo LLC purchased a new position in Gartner, Inc. (NYSE:IT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,634 shares of the information technology services provider’s stock, valued at approximately $722,000.

Several other institutional investors have also added to or reduced their stakes in IT. Vanguard Group Inc. lifted its stake in shares of Gartner by 0.7% in the 1st 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. Principal Financial Group Inc. lifted its position in Gartner by 22.0% in the second quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock valued at $852,014,000 after purchasing an additional 341,911 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Gartner by 12.0% in the fourth quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock worth $835,826,000 after purchasing an additional 198,274 shares during the last quarter. Brown Advisory Inc. increased its stake in shares of Gartner by 4.6% in the fourth quarter. Brown Advisory Inc. now owns 1,208,914 shares of the information technology services provider’s stock worth $545,353,000 after buying an additional 52,826 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Gartner by 18.5% during 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 buying an additional 143,556 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Morgan Stanley boosted their price target on Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. UBS Group increased their price objective on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Robert W. Baird boosted their target price on Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, Bank of America raised their price target on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $521.00.

Insider Buying and Selling at Gartner

In other news, Director Karen E. Dykstra sold 1,683 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $465.55, for a total value of $783,520.65. Following the sale, the director now directly owns 19,825 shares of the company’s stock, valued at approximately $9,229,528.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Karen E. Dykstra sold 1,683 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $465.55, for a total value of $783,520.65. Following the transaction, the director now owns 19,825 shares in the company, valued at approximately $9,229,528.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Eugene A. Hall sold 12,082 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $504.84, for a total transaction of $6,099,476.88. Following the sale, the chief executive officer now owns 1,143,389 shares of the company’s stock, valued at $577,228,502.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,626 shares of company stock valued at $15,145,217. Corporate insiders own 3.60% of the company’s stock.

Gartner Trading Up 1.0 %

NYSE IT opened at $510.56 on Friday. The firm has a market capitalization of $39.34 billion, a PE ratio of 50.80, a P/E/G ratio of 3.89 and a beta of 1.32. The stock’s 50 day moving average is $475.84 and its 200 day moving average is $460.31. Gartner, Inc. has a twelve month low of $323.61 and a twelve month high of $510.98. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 3.80.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.20. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.85 EPS. Research analysts forecast that Gartner, Inc. will post 11.59 earnings per share for the current fiscal 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.