T. Rowe Price Investment Management Inc. Invests $65.24 Million in Gartner, Inc. (NYSE:IT)

T. Rowe Price Investment Management Inc. bought a new position in Gartner, Inc. (NYSE:IT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 134,655 shares of the information technology services provider's stock, valued at approximately $65,237,000. T. Rowe Price Investment Management Inc. owned about 0.17% of Gartner as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in Gartner in the fourth quarter valued at about $460,541,000. Madison Investment Advisors LLC acquired a new position in Gartner in the fourth quarter worth approximately $244,799,000. Raymond James Financial Inc. bought a new position in Gartner during the fourth quarter valued at approximately $165,476,000. FMR LLC raised its position in Gartner by 8.6% during the fourth quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider's stock valued at $1,367,233,000 after acquiring an additional 223,087 shares in the last quarter. Finally, Fisher Funds Management LTD bought a new position in Gartner during the fourth quarter valued at approximately $97,518,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Stock Performance

Shares of Gartner stock traded up $1.81 during midday trading on Thursday, hitting $422.89. The company had a trading volume of 213,588 shares, compared to its average volume of 449,485. The business's 50 day simple moving average is $432.89 and its two-hundred day simple moving average is $487.16. The stock has a market cap of $32.49 billion, a PE ratio of 26.41, a P/E/G ratio of 3.30 and a beta of 1.26. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. 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 posted its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, topping analysts' consensus estimates of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the previous year, the company earned $3.04 earnings per share. The business's revenue was up 8.1% compared to the same quarter last year. As a group, equities analysts predict that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Buying and Selling at Gartner

In other Gartner news, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares in the company, valued at approximately $1,728,932.09. The trade was a 2.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction on Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the sale, the director now owns 1,627 shares in the company, valued at $796,855.79. The trade was a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on IT shares. Barclays cut their price objective on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Morgan Stanley cut their price objective on shares of Gartner from $564.00 to $555.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 16th. StockNews.com lowered shares of Gartner from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Robert W. Baird cut their price objective on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Finally, UBS Group cut their price objective on shares of Gartner from $565.00 to $500.00 and set a "buy" rating on the stock in a research report on Tuesday, March 25th. One 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 MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $513.50.

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.