Aberdeen Group plc Has $28.17 Million Position in Gartner, Inc. (NYSE:IT)

Key Points

• Aberdeen Group plc has increased its stake in Gartner, Inc. by 60.1%, owning approximately $28.17 million worth of shares.
• Analysts have recently lowered their price targets for Gartner, with Barclays setting a new target of $320.00 and Wells Fargo reducing theirs to $225.00.
• Gartner reported an EPS of $3.53 for the recent quarter, exceeding estimates, but its revenue of $1.66 billion fell slightly short of predictions.

Aberdeen Group plc boosted its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 60.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,580 shares of the information technology services provider's stock after purchasing an additional 25,367 shares during the period. Aberdeen Group plc owned 0.09% of Gartner worth $28,169,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Gartner by 1.8% during the first quarter. Vanguard Group Inc. now owns 9,433,449 shares of the information technology services provider's stock valued at $3,959,596,000 after purchasing an additional 164,810 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Gartner by 20.5% during the first quarter. JPMorgan Chase & Co. now owns 1,245,563 shares of the information technology services provider's stock worth $522,813,000 after purchasing an additional 211,842 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Gartner by 9.4% during the first quarter. Goldman Sachs Group Inc. now owns 956,223 shares of the information technology services provider's stock worth $401,365,000 after purchasing an additional 82,307 shares during the period. Northern Trust Corp increased its stake in shares of Gartner by 10.9% during the fourth quarter. Northern Trust Corp now owns 906,833 shares of the information technology services provider's stock worth $439,333,000 after purchasing an additional 88,800 shares during the period. Finally, Sustainable Growth Advisers LP increased its stake in Gartner by 26.3% during the 1st quarter. Sustainable Growth Advisers LP now owns 676,325 shares of the information technology services provider's stock worth $283,881,000 after acquiring an additional 140,898 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on IT. Barclays lowered their price objective on Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. The Goldman Sachs Group cut their price objective on Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Wells Fargo & Company lowered their target price on Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research report on Wednesday, August 6th. BMO Capital Markets lowered their target price on Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a research report on Wednesday, August 6th. Finally, UBS Group reissued a "neutral" rating and issued a $270.00 price objective (down from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $369.25.

Gartner Stock Performance

Shares of Gartner stock opened at $238.75 on Friday. Gartner, Inc. has a one year low of $223.65 and a one year high of $584.01. The firm has a market capitalization of $18.38 billion, a price-to-earnings ratio of 14.69 and a beta of 1.19. The business has a 50-day simple moving average of $356.35 and a 200 day simple moving average of $417.93. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11.

Gartner (NYSE:IT - Get Free Report) last issued its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, beating analysts' consensus estimates of $3.38 by $0.15. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. Gartner had a return on equity of 82.63% and a net margin of 19.71%. The firm's revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.22 EPS. On average, research analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Transactions at Gartner

In other Gartner news, EVP Akhil Jain sold 625 shares of Gartner stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $450.00, for a total transaction of $281,250.00. Following the completion of the transaction, the executive vice president owned 6,548 shares in the company, valued at approximately $2,946,600. The trade was a 8.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.30% of the company's stock.

About Gartner

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.

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