Federated Hermes Inc. Grows Stock Holdings in Gartner, Inc. (NYSE:IT)

Federated Hermes Inc. raised its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 15.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 197,563 shares of the information technology services provider's stock after purchasing an additional 26,854 shares during the quarter. Federated Hermes Inc. owned about 0.26% of Gartner worth $82,925,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sompo Asset Management Co. Ltd. grew its position in Gartner by 1.7% during the fourth quarter. Sompo Asset Management Co. Ltd. now owns 1,210 shares of the information technology services provider's stock valued at $586,000 after buying an additional 20 shares during the period. Cornerstone Advisory LLC boosted its stake in Gartner by 0.8% in the fourth quarter. Cornerstone Advisory LLC now owns 2,803 shares of the information technology services provider's stock valued at $1,443,000 after acquiring an additional 21 shares during the last quarter. TD Waterhouse Canada Inc. grew its holdings in Gartner by 3.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 758 shares of the information technology services provider's stock valued at $367,000 after purchasing an additional 23 shares during the period. Connecticut Wealth Management LLC grew its stake in shares of Gartner by 0.6% during the 4th quarter. Connecticut Wealth Management LLC now owns 4,604 shares of the information technology services provider's stock worth $2,230,000 after acquiring an additional 26 shares during the period. Finally, Keel Point LLC boosted its position in Gartner by 5.5% during the fourth quarter. Keel Point LLC now owns 514 shares of the information technology services provider's stock worth $249,000 after purchasing an additional 27 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Price Performance

NYSE IT traded down $5.27 during trading on Thursday, reaching $338.53. The company's stock had a trading volume of 897,841 shares, compared to its average volume of 808,973. The firm has a fifty day moving average of $395.73 and a 200 day moving average of $439.06. Gartner, Inc. has a one year low of $337.40 and a one year high of $584.01. The stock has a market capitalization of $26.06 billion, a PE ratio of 21.07 and a beta of 1.19. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.09 and a quick ratio of 1.09.

Gartner (NYSE:IT - Get Free Report) last announced its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.26. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Gartner had a net margin of 19.82% and a return on equity of 96.70%. The firm's quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.93 earnings per share. Analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on IT. 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. Wells Fargo & Company lowered their target price on shares of Gartner from $400.00 to $345.00 and set an "underweight" rating on the stock in a report on Friday, July 18th. The Goldman Sachs Group dropped their target price on Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. UBS Group reduced their price target on Gartner from $500.00 to $480.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. Finally, Morgan Stanley dropped their price objective on Gartner from $490.00 to $455.00 and set an "equal weight" rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $496.44.

Insider Transactions at Gartner

In related news, EVP Robin B. Kranich sold 739 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $436.50, for a total transaction of $322,573.50. Following the transaction, the executive vice president owned 20,464 shares of the company's stock, valued at approximately $8,932,536. This trade represents a 3.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William James Wartinbee III sold 538 shares of Gartner stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $449.09, for a total transaction of $241,610.42. Following the completion of the transaction, the executive vice president owned 7,965 shares in the company, valued at approximately $3,577,001.85. The trade was a 6.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,426 shares of company stock worth $2,430,327. Corporate 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.