Castlekeep Investment Advisors LLC Purchases Shares of 10,174 Gartner, Inc. (NYSE:IT)

Castlekeep Investment Advisors LLC bought a new position in shares of Gartner, Inc. (NYSE:IT - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 10,174 shares of the information technology services provider's stock, valued at approximately $4,929,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IT. Vanguard Group Inc. grew its position in shares of Gartner by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 9,268,639 shares of the information technology services provider's stock valued at $4,490,378,000 after acquiring an additional 100,917 shares during the period. FMR LLC lifted its stake in Gartner by 8.6% in the fourth quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider's stock valued at $1,367,233,000 after purchasing an additional 223,087 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Gartner by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 2,063,577 shares of the information technology services provider's stock valued at $998,400,000 after buying an additional 45,219 shares during the period. Principal Financial Group Inc. grew its stake in shares of Gartner by 0.6% during the 4th quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider's stock worth $975,141,000 after acquiring an additional 11,657 shares during the period. Finally, Wellington Management Group LLP raised its stake in Gartner by 12.7% in the 4th quarter. Wellington Management Group LLP now owns 1,662,005 shares of the information technology services provider's stock valued at $805,192,000 after acquiring an additional 187,854 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Price Performance

IT traded down $5.31 on Friday, reaching $432.12. The company had a trading volume of 415,520 shares, compared to its average volume of 626,166. Gartner, Inc. has a 52-week low of $366.05 and a 52-week high of $584.01. The company has a market cap of $33.19 billion, a price-to-earnings ratio of 26.96, a P/E/G ratio of 3.30 and a beta of 1.24. 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 business has a 50 day simple moving average of $424.98 and a 200 day simple moving average of $483.02.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.72 by $0.26. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The firm's revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.93 EPS. As a group, sell-side analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Transactions at Gartner

In other news, EVP Robin B. Kranich sold 739 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $436.50, for a total transaction of $322,573.50. Following the transaction, the executive vice president now directly owns 20,464 shares of the company's stock, valued at approximately $8,932,536. This trade represents a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John J. Rinello sold 90 shares of the business's stock in a transaction dated 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 sale, the senior vice president now directly owns 3,259 shares of the company's stock, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,138 shares of company stock worth $1,005,606. 3.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Barclays lowered their price target on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. StockNews.com downgraded Gartner from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Robert W. Baird reduced their price target on Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. UBS Group increased their price objective on Gartner from $500.00 to $525.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Wells Fargo & Company decreased their price target on Gartner from $401.00 to $400.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $518.67.

Gartner Company 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.