Sustainable Growth Advisers LP Raises Stock Holdings in Gartner, Inc. (NYSE:IT)

Sustainable Growth Advisers LP raised its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 26.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 676,325 shares of the information technology services provider's stock after purchasing an additional 140,898 shares during the period. Gartner makes up approximately 1.6% of Sustainable Growth Advisers LP's portfolio, making the stock its 26th biggest holding. Sustainable Growth Advisers LP owned about 0.88% of Gartner worth $283,881,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS lifted its position in shares of Gartner by 1.1% during the first quarter. KLP Kapitalforvaltning AS now owns 26,490 shares of the information technology services provider's stock valued at $11,119,000 after purchasing an additional 300 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in Gartner by 11.2% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 55,390 shares of the information technology services provider's stock valued at $24,312,000 after buying an additional 5,582 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Gartner during the 1st quarter worth approximately $2,522,000. PFG Advisors boosted its stake in shares of Gartner by 38.5% in the 1st quarter. PFG Advisors now owns 5,052 shares of the information technology services provider's stock worth $2,121,000 after buying an additional 1,404 shares during the last quarter. Finally, HighPoint Advisor Group LLC grew its holdings in shares of Gartner by 3.6% in the first quarter. HighPoint Advisor Group LLC now owns 1,145 shares of the information technology services provider's stock valued at $482,000 after acquiring an additional 40 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IT has been the topic of several research analyst reports. The Goldman Sachs Group cut 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. Wells Fargo & Company cut their price target on shares of Gartner from $400.00 to $345.00 and set an "underweight" rating on the stock in a report on Friday, July 18th. Barclays decreased their price objective on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, UBS Group dropped their target price on shares of Gartner from $500.00 to $480.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. 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, the company presently has an average rating of "Hold" and a consensus target price of $507.56.

Gartner Stock Performance

Shares of NYSE IT traded down $1.77 during midday trading on Thursday, hitting $356.21. The company's stock had a trading volume of 516,612 shares, compared to its average volume of 886,373. The firm has a market capitalization of $27.42 billion, a price-to-earnings ratio of 22.17, a P/E/G ratio of 2.32 and a beta of 1.19. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.64. The stock has a fifty day moving average price of $407.35 and a 200 day moving average price of $444.96. Gartner, Inc. has a one year low of $352.29 and a one year high of $584.01.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.72 by $0.26. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Gartner had a net margin of 19.82% and a return on equity of 96.70%. Gartner's revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.93 EPS. On average, research analysts forecast that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Buying and Selling at Gartner

In other Gartner news, CFO Craig Safian sold 3,415 shares of Gartner stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $450.17, for a total transaction of $1,537,330.55. Following the completion of the transaction, the chief financial officer owned 77,890 shares of the company's stock, valued at $35,063,741.30. The trade was a 4.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP John J. Rinello sold 109 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total value of $47,562.15. Following the sale, the senior vice president owned 3,280 shares in the company, valued at approximately $1,431,228. This represents a 3.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,426 shares of company stock worth $2,430,327 in the last three months. 2.30% of the stock is currently owned by corporate insiders.

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.