Rhumbline Advisers Has $67.90 Million Holdings in Gartner, Inc. (NYSE:IT)

Rhumbline Advisers boosted its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 161,754 shares of the information technology services provider's stock after purchasing an additional 10,389 shares during the quarter. Rhumbline Advisers owned about 0.21% of Gartner worth $67,895,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IT. Howard Capital Management Inc. boosted its position in shares of Gartner by 4.4% in the fourth quarter. Howard Capital Management Inc. now owns 452 shares of the information technology services provider's stock valued at $219,000 after acquiring an additional 19 shares during the period. Dorsey & Whitney Trust CO LLC boosted its holdings in Gartner by 2.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 826 shares of the information technology services provider's stock valued at $400,000 after purchasing an additional 20 shares during the period. Sompo Asset Management Co. Ltd. grew its position in Gartner by 1.7% in the 4th quarter. Sompo Asset Management Co. Ltd. now owns 1,210 shares of the information technology services provider's stock worth $586,000 after purchasing an additional 20 shares during the last quarter. Parallel Advisors LLC increased its holdings 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 worth $357,000 after purchasing an additional 21 shares during the period. Finally, Cornerstone Advisory LLC raised its position in shares of Gartner by 0.8% during the fourth quarter. Cornerstone Advisory LLC now owns 2,803 shares of the information technology services provider's stock valued at $1,443,000 after buying an additional 21 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Activity at Gartner

In related news, EVP William James Wartinbee III sold 538 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $449.09, for a total value of $241,610.42. Following the completion of the transaction, the executive vice president now owns 7,965 shares in the company, valued at $3,577,001.85. The trade was a 6.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP John J. Rinello sold 109 shares of Gartner stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $436.35, for a total value of $47,562.15. Following the completion of the sale, the senior vice president now owns 3,280 shares of the company's stock, valued at approximately $1,431,228. The trade was a 3.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,426 shares of company stock valued at $2,430,327 in the last three months. Corporate insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Robert W. Baird decreased their target price on Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. The Goldman Sachs Group lowered their price objective on Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Barclays reduced their target price on Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Wells Fargo & Company lowered their price target on shares of Gartner from $401.00 to $400.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Finally, Wall Street Zen downgraded shares of Gartner from a "buy" rating to a "hold" rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Gartner currently has an average rating of "Hold" and an average price target of $518.67.

Gartner Price Performance

Shares of Gartner stock traded down $6.73 during mid-day trading on Wednesday, reaching $425.50. 756,128 shares of the stock were exchanged, compared to its average volume of 466,571. Gartner, Inc. has a fifty-two week low of $366.05 and a fifty-two week high of $584.01. The company has a market cap of $32.75 billion, a price-to-earnings ratio of 26.54, a price-to-earnings-growth ratio of 3.30 and a beta of 1.24. The firm has a 50-day simple moving average of $420.82 and a 200 day simple moving average of $472.19. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81.

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

About Gartner

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.