Madison Asset Management LLC Has $231.78 Million Stock Position in Gartner, Inc. (NYSE:IT)

Madison Asset Management LLC raised its position in shares of Gartner, Inc. (NYSE:IT - Free Report) by 9.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 552,190 shares of the information technology services provider's stock after acquiring an additional 46,898 shares during the period. Gartner makes up approximately 2.6% of Madison Asset Management LLC's investment portfolio, making the stock its 5th largest position. Madison Asset Management LLC owned about 0.72% of Gartner worth $231,776,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in IT. Cary Street Partners Financial LLC acquired a new position in Gartner during the fourth quarter valued at approximately $27,000. Itau Unibanco Holding S.A. raised its position in Gartner by 453.3% during the fourth 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 in the last quarter. Olde Wealth Management LLC acquired a new position in Gartner during the first quarter valued at approximately $42,000. GW&K Investment Management LLC raised its position in 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 valued at $48,000 after purchasing an additional 78 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new position in shares of Gartner during the first quarter worth $55,000. 91.51% of the stock is currently owned by institutional investors.

Insider Activity at Gartner

In other Gartner news, EVP Akhil Jain sold 625 shares of the business'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 transaction, the executive vice president owned 6,548 shares in the company, valued at approximately $2,946,600. The trade was a 8.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John J. Rinello sold 109 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total transaction of $47,562.15. Following the completion of the transaction, the senior vice president owned 3,280 shares in the company, valued at $1,431,228. The trade was a 3.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,426 shares of company stock worth $2,430,327 in the last three months. 3.60% of the stock is owned by insiders.

Gartner Trading Up 0.9%

Shares of IT stock opened at $356.28 on Wednesday. Gartner, Inc. has a 12-month low of $352.29 and a 12-month high of $584.01. The firm has a market cap of $27.42 billion, a P/E ratio of 22.17, a PEG ratio of 2.29 and a beta of 1.19. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.64. The company has a 50 day moving average of $409.10 and a 200-day moving average of $445.57.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS 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 firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the firm earned $2.93 EPS. The business's quarterly revenue was up 4.2% compared to the same quarter last year. Sell-side analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Barclays decreased their price objective on Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, April 21st. The Goldman Sachs Group decreased their price target on Gartner from $622.00 to $535.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. UBS Group decreased their price target on Gartner from $500.00 to $480.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. Finally, Wells Fargo & Company decreased their price target on Gartner from $400.00 to $345.00 and set an "underweight" rating for the company in a report on Friday, July 18th. One equities research 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's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $507.56.

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.

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