Voloridge Investment Management LLC Raises Stake in Gartner, Inc. (NYSE:IT)

Voloridge Investment Management LLC raised its position in shares of Gartner, Inc. (NYSE:IT - Free Report) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 210,191 shares of the information technology services provider's stock after purchasing an additional 6,796 shares during the quarter. Voloridge Investment Management LLC owned 0.27% of Gartner worth $101,831,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Cary Street Partners Financial LLC purchased a new position in Gartner during the fourth quarter valued at approximately $27,000. Kestra Investment Management LLC purchased a new position in Gartner during the fourth quarter valued at approximately $29,000. Itau Unibanco Holding S.A. lifted its holdings 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. SBI Securities Co. Ltd. purchased a new position in Gartner during the fourth quarter valued at approximately $49,000. Finally, Promus Capital LLC purchased a new position in Gartner during the fourth quarter valued at approximately $57,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Barclays lowered their price target on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. UBS Group boosted their target price on shares of Gartner from $500.00 to $525.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Wells Fargo & Company lowered their target price 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. Robert W. Baird lowered their target price on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Finally, The Goldman Sachs Group lowered their target price on shares of Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $518.67.

Insider Buying and Selling at Gartner

In other news, EVP Robin B. Kranich sold 739 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $436.50, for a total transaction of $322,573.50. Following the completion of the sale, the executive vice president now directly owns 20,464 shares of the company's stock, valued at approximately $8,932,536. The trade was a 3.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John J. Rinello sold 109 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total transaction of $47,562.15. Following the sale, the senior vice president now directly owns 3,280 shares of the company's stock, valued at $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 6,001 shares of company stock worth $2,736,801 over the last quarter. Insiders own 2.30% of the company's stock.

Gartner Trading Up 0.4%

Shares of IT opened at $450.03 on Tuesday. The company's fifty day moving average is $420.61 and its 200 day moving average is $479.18. Gartner, Inc. has a fifty-two week low of $366.05 and a fifty-two week high of $584.01. The stock has a market capitalization of $34.57 billion, a PE ratio of 28.07, a P/E/G ratio of 3.30 and a beta of 1.24. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter in the previous year, the business posted $2.93 earnings per share. Gartner's quarterly revenue was up 4.2% on a year-over-year basis. Sell-side analysts expect that Gartner, Inc. will post 12.5 earnings per share 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.

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