Gartner, Inc. $IT Shares Purchased by Fulcrum Asset Management LLP

Key Points

• Fulcrum Asset Management increased its Gartner stake by 5,888.4% in the third quarter, adding 17,312 shares to hold 17,606 shares valued at about $3.27 million. Institutional investors and hedge funds collectively owned 91.51% of the stock.
• Gartner reported quarterly EPS of $3.59, beating the $2.84 consensus, and revenue of $1.50 billion versus expectations of $1.49 billion. Revenue was down 1.2% year over year.
• Analyst sentiment leaned cautious: seven analysts rated Gartner Hold and three rated it Sell, giving the stock a consensus “Reduce” rating and an average price target of $206.20.

Fulcrum Asset Management LLP boosted its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 5,888.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,606 shares of the information technology services provider's stock after buying an additional 17,312 shares during the period. Fulcrum Asset Management LLP's holdings in Gartner were worth $3,272,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of IT. Bamco Inc. NY acquired a new stake in shares of Gartner in the second quarter worth $985,243,000. BlackRock Inc. acquired a new position in Gartner during the 2nd quarter valued at $676,246,000. Bank of America Corp DE acquired a new position in Gartner during the 2nd quarter valued at $117,661,000. Madison Asset Management LLC acquired a new position in Gartner during the 2nd quarter valued at $74,481,000. Finally, Bank of New York Mellon Corp bought a new stake in Gartner in the 2nd quarter valued at $51,262,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Gartner

In other Gartner news, EVP Robin B. Kranich sold 3,278 shares of the business's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $196.50, for a total value of $644,127.00. Following the transaction, the executive vice president directly owned 20,358 shares in the company, valued at $4,000,347. The trade was a 13.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Akhil Jain sold 700 shares of the business's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $201.73, for a total transaction of $141,211.00. Following the completion of the transaction, the executive vice president owned 8,130 shares in the company, valued at approximately $1,640,064.90. This trade represents a 7.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.60% of the company's stock.

Gartner Stock Performance

Shares of NYSE:IT opened at $190.64 on Tuesday. The company has a debt-to-equity ratio of 46.98, a current ratio of 0.91 and a quick ratio of 0.88. The business's fifty day moving average price is $197.12 and its two-hundred day moving average price is $169.36. Gartner, Inc. has a fifty-two week low of $124.25 and a fifty-two week high of $256.89. The stock has a market capitalization of $12.04 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 0.75 and a beta of 0.92.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.84 by $0.75. Gartner had a return on equity of 2,287.71% and a net margin of 14.81%. The company had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same period last year, the business earned $2.76 earnings per share. The business's revenue was down 1.2% on a year-over-year basis. As a group, analysts predict that Gartner, Inc. will post 15.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IT has been the topic of several research analyst reports. The Goldman Sachs Group raised their price target on shares of Gartner from $181.00 to $207.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 4th. UBS Group boosted their price objective on shares of Gartner from $208.00 to $220.00 and gave the stock a "neutral" rating in a report on Wednesday, November 4th. Wells Fargo & Company upped their price objective on shares of Gartner from $150.00 to $175.00 and gave the company an "underweight" rating in a research report on Tuesday, October 20th. Morgan Stanley increased their target price on shares of Gartner from $182.00 to $192.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 4th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $198.00 target price on shares of Gartner in a research report on Tuesday, October 20th. Seven investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Gartner currently has an average rating of "Reduce" and a consensus price target of $206.20.

Gartner Company Profile

Gartner, Inc is a global research and advisory company that provides business and technology leaders with insights to support decision-making. Its research covers areas such as information technology, digital transformation, cybersecurity, finance, human resources, and supply chain management.

The company offers research subscriptions, advisory services, consulting, and conferences. Its research includes tools and analysis such as Magic Quadrants and Hype Cycles, which help organizations assess markets, technologies, and potential vendors.

Founded in 1979 by Gideon Gartner, the company serves clients across a range of industries and geographies.

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