Ensign Peak Advisors Inc Increases Stake in Gartner, Inc. (NYSE:IT)

Ensign Peak Advisors Inc lifted its stake in Gartner, Inc. (NYSE:IT) by 1.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,927 shares of the information technology services provider’s stock after purchasing an additional 367 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Gartner were worth $15,468,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of IT. Vanguard Group Inc. grew its stake in shares of Gartner by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 9,268,639 shares of the information technology services provider’s stock worth $4,490,378,000 after purchasing an additional 100,917 shares during the period. FMR LLC raised its holdings in Gartner by 8.6% in the 4th quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider’s stock valued at $1,367,233,000 after buying an additional 223,087 shares during the period. Geode Capital Management LLC raised its holdings in Gartner by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 2,063,577 shares of the information technology services provider’s stock valued at $998,400,000 after buying an additional 45,219 shares during the period. Principal Financial Group Inc. grew its position in Gartner by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider’s stock valued at $975,141,000 after acquiring an additional 11,657 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Gartner by 12.7% in the 4th quarter. Wellington Management Group LLP now owns 1,662,005 shares of the information technology services provider’s stock valued at $805,192,000 after acquiring an additional 187,854 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Stock Down 1.2%

Gartner stock opened at $432.12 on Monday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $33.19 billion, a price-to-earnings ratio of 26.96, a price-to-earnings-growth ratio of 3.30 and a beta of 1.24. Gartner, Inc. has a fifty-two week low of $366.05 and a fifty-two week high of $584.01. The stock’s fifty day moving average is $423.97 and its two-hundred day moving average is $481.88.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.26. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. Gartner’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.93 earnings per share. Analysts predict that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IT. Wells Fargo & Company lowered their price objective on Gartner from $401.00 to $400.00 and set an “underweight” rating for the company in a research report on Thursday, May 1st. The Goldman Sachs Group decreased their target price 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 reduced their price objective on Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Finally, Morgan Stanley cut their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Gartner currently has a consensus rating of “Hold” and a consensus target price of $518.67.

Insider Buying and Selling at Gartner

In related news, EVP Robin B. Kranich sold 739 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $436.50, for a total transaction of $322,573.50. Following the sale, the executive vice president now owns 20,464 shares of the company’s stock, valued at $8,932,536. This trade represents a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eileen Serra sold 1,200 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the sale, the director now directly owns 1,627 shares in the company, valued at approximately $796,855.79. The trade was a 42.45% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,048 shares of company stock valued at $957,860. Insiders own 2.30% of the company’s stock.

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.