Gartner, Inc. (NYSE:IT) Stake Lifted by Allianz Asset Management GmbH

Allianz Asset Management GmbH grew its position in Gartner, Inc. (NYSE:IT - Free Report) by 63.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,128 shares of the information technology services provider's stock after purchasing an additional 37,743 shares during the period. Allianz Asset Management GmbH owned approximately 0.13% of Gartner worth $40,769,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Cary Street Partners Financial LLC acquired a new stake in shares of Gartner in the fourth quarter valued at about $27,000. Itau Unibanco Holding S.A. boosted its holdings in Gartner by 453.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock worth $40,000 after acquiring an additional 68 shares during the period. Olde Wealth Management LLC purchased a new position in Gartner in the 1st quarter worth approximately $42,000. Wayfinding Financial LLC purchased a new stake in shares of Gartner during the first quarter valued at approximately $55,000. Finally, Hurley Capital LLC purchased a new stake in shares of Gartner during the fourth quarter valued at approximately $73,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IT. Barclays decreased their target price on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. The Goldman Sachs Group decreased their price objective on shares of Gartner from $622.00 to $535.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Wells Fargo & Company dropped their target price on Gartner from $400.00 to $345.00 and set an "underweight" rating on the stock in a research report on Friday, July 18th. Finally, UBS Group cut their price target on Gartner from $500.00 to $480.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Gartner currently has an average rating of "Hold" and a consensus price target of $507.56.

Insider Activity

In other Gartner news, SVP John J. Rinello sold 109 shares of Gartner stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total value of $47,562.15. Following the completion of the transaction, the senior vice president owned 3,280 shares of the company's stock, valued at $1,431,228. The trade was a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Akhil Jain sold 625 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $450.00, for a total transaction of $281,250.00. Following the sale, the executive vice president owned 6,548 shares of the company's stock, valued at approximately $2,946,600. The trade was a 8.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,426 shares of company stock valued at $2,430,327 over the last three months. 2.30% of the stock is currently owned by company insiders.

Gartner Stock Up 0.2%

Shares of IT stock traded up $0.69 during trading hours on Friday, hitting $356.83. 753,801 shares of the company were exchanged, compared to its average volume of 867,332. The stock has a market capitalization of $27.47 billion, a price-to-earnings ratio of 22.20, a P/E/G ratio of 2.31 and a beta of 1.19. Gartner, Inc. has a one year low of $352.29 and a one year high of $584.01. The business's 50-day simple moving average is $403.72 and its two-hundred day simple moving average is $442.74. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.09 and a current ratio of 1.09.

Gartner (NYSE:IT - Get Free Report) last released its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.72 by $0.26. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Gartner had a return on equity of 96.70% and a net margin of 19.82%. Gartner's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.93 EPS. Sell-side analysts predict that Gartner, Inc. will post 12.5 EPS 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.