Gartner, Inc. (NYSE:IT) Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. lifted its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 184.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,525 shares of the information technology services provider's stock after purchasing an additional 1,636 shares during the period. Edgestream Partners L.P.'s holdings in Gartner were worth $1,060,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Brighton Jones LLC purchased a new position in Gartner in the 4th quarter valued at approximately $309,000. Commonwealth Equity Services LLC grew its position in shares of Gartner by 0.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 3,379 shares of the information technology services provider's stock valued at $1,637,000 after purchasing an additional 30 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Gartner by 2.9% during the 4th quarter. Parallel Advisors LLC now owns 737 shares of the information technology services provider's stock valued at $357,000 after purchasing an additional 21 shares in the last quarter. Generali Asset Management SPA SGR purchased a new position in shares of Gartner during the 4th quarter valued at $1,595,000. Finally, Royal London Asset Management Ltd. grew its position in shares of Gartner by 10.5% during the 4th quarter. Royal London Asset Management Ltd. now owns 33,060 shares of the information technology services provider's stock valued at $16,017,000 after purchasing an additional 3,142 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Insider Transactions at Gartner

In other news, CFO Craig Safian sold 3,415 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $450.17, for a total value of $1,537,330.55. Following the sale, the chief financial officer directly owned 77,890 shares in the company, valued at $35,063,741.30. The trade was a 4.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Robin B. Kranich sold 739 shares of Gartner stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $436.50, for a total transaction of $322,573.50. Following the transaction, the executive vice president directly owned 20,464 shares of the company's stock, valued at approximately $8,932,536. This represents a 3.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,426 shares of company stock worth $2,430,327. 2.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on IT shares. Wells Fargo & Company lowered their price target on shares of Gartner from $400.00 to $345.00 and set an "underweight" rating for the company in a research note on Friday. Barclays dropped their target price 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. UBS Group dropped their target price on shares of Gartner from $500.00 to $480.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. Finally, The Goldman Sachs Group decreased their price target on shares of Gartner from $622.00 to $535.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. One 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. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $507.56.

Gartner Price Performance

Shares of IT traded down $6.32 during trading hours on Friday, reaching $355.09. 1,318,627 shares of the stock traded hands, compared to its average volume of 531,947. Gartner, Inc. has a 52-week low of $352.37 and a 52-week high of $584.01. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.64. The company has a market cap of $27.33 billion, a P/E ratio of 22.10, a price-to-earnings-growth ratio of 2.31 and a beta of 1.19. The company's 50-day moving average price is $412.83 and its two-hundred day moving average price is $447.37.

Gartner (NYSE:IT - Get Free Report) last posted its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.26. Gartner had a net margin of 19.82% and a return on equity of 96.70%. The company had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same period last year, the company posted $2.93 earnings per share. Gartner's quarterly revenue was up 4.2% on a year-over-year basis. On average, analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current year.

Gartner Company 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.