Assenagon Asset Management S.A. Has $44.74 Million Stock Position in Gartner, Inc. (NYSE:IT)

Assenagon Asset Management S.A. raised its holdings in Gartner, Inc. (NYSE:IT) by 46.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 88,293 shares of the information technology services provider’s stock after purchasing an additional 28,208 shares during the quarter. Assenagon Asset Management S.A. owned 0.11% of Gartner worth $44,743,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of IT. Moors & Cabot Inc. boosted its stake in Gartner by 3.0% in the second quarter. Moors & Cabot Inc. now owns 763 shares of the information technology services provider’s stock valued at $343,000 after buying an additional 22 shares in the last quarter. TIAA Trust National Association boosted its stake in shares of Gartner by 3.2% in the 1st quarter. TIAA Trust National Association now owns 744 shares of the information technology services provider’s stock valued at $355,000 after purchasing an additional 23 shares in the last quarter. Mather Group LLC. grew its holdings in shares of Gartner by 2.2% during the 2nd quarter. Mather Group LLC. now owns 1,079 shares of the information technology services provider’s stock valued at $514,000 after purchasing an additional 23 shares during the last quarter. Wallace Advisory Group LLC increased its position in Gartner by 2.4% during the 2nd quarter. Wallace Advisory Group LLC now owns 980 shares of the information technology services provider’s stock worth $440,000 after purchasing an additional 23 shares in the last quarter. Finally, Trust Point Inc. lifted its stake in Gartner by 3.2% in the 3rd quarter. Trust Point Inc. now owns 746 shares of the information technology services provider’s stock valued at $378,000 after purchasing an additional 23 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Gartner Stock Down 0.6 %

Gartner stock opened at $517.95 on Friday. The firm has a market cap of $40.21 billion, a price-to-earnings ratio of 51.54, a PEG ratio of 3.23 and a beta of 1.32. Gartner, Inc. has a 52-week low of $323.61 and a 52-week high of $535.29. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a 50 day moving average price of $504.74 and a two-hundred day moving average price of $469.64.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. Gartner’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.85 earnings per share. Equities analysts predict that Gartner, Inc. will post 11.65 EPS for the current year.

Insider Activity

In related news, CEO Eugene A. Hall sold 12,082 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $504.84, for a total transaction of $6,099,476.88. Following the completion of the sale, the chief executive officer now owns 1,143,389 shares of the company’s stock, valued at $577,228,502.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Gartner news, CEO Eugene A. Hall sold 12,082 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $504.84, for a total value of $6,099,476.88. Following the completion of the sale, the chief executive officer now directly owns 1,143,389 shares in the company, valued at approximately $577,228,502.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Yvonne Genovese sold 443 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $483.62, for a total transaction of $214,243.66. Following the transaction, the executive vice president now owns 1,959 shares in the company, valued at $947,411.58. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,164 shares of company stock valued at $32,601,014 in the last ninety days. 3.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Gartner from $435.00 to $460.00 and gave the stock an “underweight” rating in a research note on Monday, October 14th. Robert W. Baird lifted their price target on Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. UBS Group raised their price objective on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets boosted their target price on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley raised their price target on shares of Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $532.86.

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.