Algert Global LLC Makes New $2.26 Million Investment in Gartner, Inc. (NYSE:IT)

Algert Global LLC bought a new position in shares of Gartner, Inc. (NYSE:IT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 4,663 shares of the information technology services provider's stock, valued at approximately $2,259,000.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Gartner by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 9,268,639 shares of the information technology services provider's stock worth $4,490,378,000 after purchasing an additional 100,917 shares during the last quarter. 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 buying an additional 223,087 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Gartner by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 2,063,577 shares of the information technology services provider's stock worth $998,400,000 after acquiring an additional 45,219 shares during the last quarter. Principal Financial Group Inc. boosted its stake in 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 valued at $975,141,000 after purchasing an additional 11,657 shares during the period. Finally, Wellington Management Group LLP grew its position 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 worth $805,192,000 after purchasing an additional 187,854 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Gartner Price Performance

IT stock traded down $5.31 on Friday, hitting $432.12. 415,520 shares of the company's stock traded hands, compared to its average volume of 453,801. The stock 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. Gartner, Inc. has a 1-year low of $366.05 and a 1-year high of $584.01. The stock has a fifty day moving average of $423.97 and a 200-day moving average of $481.88. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81.

Gartner (NYSE:IT - Get Free Report) last announced its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, beating the consensus estimate of $2.72 by $0.26. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. Gartner's revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.93 earnings per share. On average, analysts forecast that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Activity at Gartner

In other Gartner news, SVP John J. Rinello sold 90 shares of the company'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 transaction, the senior vice president now owns 3,259 shares in the company, valued at approximately $1,728,932.09. This represents a 2.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eileen Serra sold 1,200 shares of Gartner 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 directly owns 1,627 shares of the company's stock, valued at $796,855.79. This trade represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,138 shares of company stock worth $1,005,606. 2.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. StockNews.com cut Gartner from a "buy" rating to a "hold" rating in a report on Friday, March 21st. UBS Group boosted their price target on Gartner from $500.00 to $525.00 and gave the stock a "buy" rating in a research report on Wednesday. Wells Fargo & Company lowered their price target on Gartner from $401.00 to $400.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Barclays reduced their price objective on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, Robert W. Baird lowered their target price on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. One research 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. According to data from MarketBeat, Gartner currently has a consensus rating of "Hold" and a consensus price target of $518.67.

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.