Man Group plc Raises Stock Holdings in Gartner, Inc. (NYSE:IT)

Man Group plc grew its position in Gartner, Inc. (NYSE:IT - Free Report) by 39.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,768 shares of the information technology services provider's stock after acquiring an additional 8,654 shares during the period. Man Group plc's holdings in Gartner were worth $14,906,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of IT. Cary Street Partners Financial LLC purchased a new stake in Gartner in the 4th quarter worth $27,000. Kestra Investment Management LLC purchased a new position in Gartner during the fourth quarter valued at $29,000. Itau Unibanco Holding S.A. grew its position in shares of Gartner by 453.3% in 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 during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Gartner during the fourth quarter worth about $49,000. Finally, Promus Capital LLC purchased a new stake in shares of Gartner during the fourth quarter worth about $57,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Gartner

In related news, Director Eileen Serra sold 1,200 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the transaction, the director now directly owns 1,627 shares in the company, valued at approximately $796,855.79. This represents a 42.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Akhil Jain sold 625 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $450.00, for a total value of $281,250.00. Following the completion of the transaction, the executive vice president now owns 6,548 shares of the company's stock, valued at $2,946,600. The trade was a 8.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,626 shares of company stock worth $3,018,051 in the last quarter. Company insiders own 2.30% of the company's stock.

Gartner Price Performance

Shares of Gartner stock traded down $5.63 on Friday, hitting $438.03. 155,163 shares of the company were exchanged, compared to its average volume of 455,862. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The company has a 50-day moving average price of $419.89 and a 200 day moving average price of $478.29. The stock has a market capitalization of $33.71 billion, a price-to-earnings ratio of 27.39, a price-to-earnings-growth ratio of 3.30 and a beta of 1.24. Gartner, Inc. has a 1-year low of $366.05 and a 1-year high of $584.01.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.72 by $0.26. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm's revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.93 earnings per share. As a group, sell-side analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on IT shares. Wells Fargo & Company decreased their price target on shares of Gartner from $401.00 to $400.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. UBS Group increased their target price on Gartner from $500.00 to $525.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. The Goldman Sachs Group lowered their price target on Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Robert W. Baird dropped their price target on Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Finally, Wall Street Zen downgraded Gartner from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $518.67.

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.