Summit Global Investments Takes $1.50 Million Position in Gartner, Inc. (NYSE:IT)

Summit Global Investments acquired a new stake in Gartner, Inc. (NYSE:IT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,562 shares of the information technology services provider's stock, valued at approximately $1,495,000.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Gartner by 40,841.0% in the 1st quarter. GAMMA Investing LLC now owns 499,071 shares of the information technology services provider's stock valued at $209,480,000 after purchasing an additional 497,852 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Gartner by 176.1% in the first quarter. Versant Capital Management Inc now owns 323 shares of the information technology services provider's stock worth $136,000 after buying an additional 206 shares during the period. First Hawaiian Bank increased its position in shares of Gartner by 19.1% in the first quarter. First Hawaiian Bank now owns 2,572 shares of the information technology services provider's stock worth $1,080,000 after acquiring an additional 413 shares in the last quarter. 111 Capital acquired a new stake in shares of Gartner during the fourth quarter valued at approximately $782,000. Finally, Siemens Fonds Invest GmbH lifted its position in shares of Gartner by 4.0% in the 4th quarter. Siemens Fonds Invest GmbH now owns 854 shares of the information technology services provider's stock valued at $415,000 after acquiring an additional 33 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Gartner Stock Up 0.7%

NYSE IT traded up $2.83 on Tuesday, reaching $432.69. The stock had a trading volume of 592,469 shares, compared to its average volume of 465,095. The business has a 50 day moving average price of $420.67 and a 200 day moving average price of $472.46. 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, Inc. has a 1 year low of $366.05 and a 1 year high of $584.01. The company has a market capitalization of $33.30 billion, a price-to-earnings ratio of 26.99, a P/E/G ratio of 3.30 and a beta of 1.24.

Gartner (NYSE:IT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, beating 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 business's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.93 earnings per share. On average, analysts forecast that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Gartner

In related news, EVP William James Wartinbee III sold 538 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $449.09, for a total transaction of $241,610.42. Following the completion of the transaction, the executive vice president now owns 7,965 shares of the company's stock, valued at approximately $3,577,001.85. The trade was a 6.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Akhil Jain sold 625 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $450.00, for a total value of $281,250.00. Following the transaction, the executive vice president now directly owns 6,548 shares of the company's stock, valued at $2,946,600. This represents a 8.71% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,426 shares of company stock worth $2,430,327. 2.30% of the stock is owned by corporate insiders.

Gartner 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.