JPMorgan Chase & Co. Raises Position in Gartner, Inc. (NYSE:IT)

Key Points

• JPMorgan Chase & Co. increased its holdings in Gartner, Inc. by 20.5% in Q1, owning 1,245,563 shares valued at approximately $522.81 million as of its latest SEC filing.
• Several other hedge funds modified their positions in Gartner during the first quarter, with institutional investors now owning 91.51% of the company's stock.
• Gartner recently reported a $3.53 EPS for the quarter, beating analysts' estimates, but its revenue of $1.66 billion fell short of expectations.

JPMorgan Chase & Co. boosted its position in Gartner, Inc. (NYSE:IT - Free Report) by 20.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,245,563 shares of the information technology services provider's stock after acquiring an additional 211,842 shares during the quarter. JPMorgan Chase & Co. owned 1.62% of Gartner worth $522,813,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Cary Street Partners Financial LLC bought a new stake in Gartner during the fourth quarter worth approximately $27,000. Itau Unibanco Holding S.A. lifted its holdings in Gartner by 453.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock valued at $40,000 after purchasing an additional 68 shares during the last quarter. Olde Wealth Management LLC bought a new position in shares of Gartner in the first quarter worth about $42,000. GW&K Investment Management LLC raised its stake in shares of Gartner by 210.8% during the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock worth $48,000 after buying an additional 78 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new position in Gartner during the first quarter valued at approximately $55,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a report on Wednesday, August 6th. UBS Group restated a "neutral" rating and issued a $270.00 price target (down previously from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. BMO Capital Markets reduced their target price on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a research note on Wednesday, August 6th. Barclays dropped their price objective on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, August 6th. Finally, Morgan Stanley decreased their price objective on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Gartner currently has an average rating of "Hold" and a consensus price target of $369.25.

Insider Buying and Selling

In other news, EVP Akhil Jain sold 625 shares of the company's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $450.00, for a total value of $281,250.00. Following the sale, the executive vice president directly owned 6,548 shares of the company's stock, valued at $2,946,600. This represents a 8.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Gartner Price Performance

Shares of NYSE:IT traded up $13.06 during trading on Wednesday, reaching $242.45. The stock had a trading volume of 1,677,489 shares, compared to its average volume of 1,483,968. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $18.66 billion, a PE ratio of 14.92 and a beta of 1.19. The business's 50-day moving average price is $363.58 and its 200 day moving average price is $422.88. Gartner, Inc. has a 52 week low of $223.65 and a 52 week high of $584.01.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, beating the consensus estimate of $3.38 by $0.15. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The firm's revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.22 EPS. As a group, equities analysts predict 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.