Gartner, Inc. (NYSE:IT) Shares Purchased by abrdn plc

abrdn plc raised its position in shares of Gartner, Inc. (NYSE:IT) by 15.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,872 shares of the information technology services provider’s stock after purchasing an additional 8,150 shares during the period. abrdn plc owned 0.08% of Gartner worth $27,009,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IT. Principal Financial Group Inc. boosted its stake in Gartner by 30.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,565,046 shares of the information technology services provider’s stock valued at $537,766,000 after purchasing an additional 364,128 shares during the period. American Century Companies Inc. raised its position in shares of Gartner by 888.4% during the 3rd quarter. American Century Companies Inc. now owns 300,106 shares of the information technology services provider’s stock worth $103,119,000 after buying an additional 269,744 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Gartner during the 3rd quarter worth about $83,588,000. Allspring Global Investments Holdings LLC raised its position in shares of Gartner by 384.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 201,553 shares of the information technology services provider’s stock worth $69,257,000 after buying an additional 159,989 shares in the last quarter. Finally, Artisan Partners Limited Partnership bought a new stake in shares of Gartner during the 3rd quarter worth about $48,614,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Gartner Stock Up 0.6 %

IT stock opened at $443.06 on Tuesday. Gartner, Inc. has a 52-week low of $292.60 and a 52-week high of $486.54. The company’s 50 day simple moving average is $464.91 and its 200-day simple moving average is $436.38. The company has a debt-to-equity ratio of 3.60, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $34.55 billion, a P/E ratio of 40.06, a P/E/G ratio of 4.02 and a beta of 1.29.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.21. Gartner had a net margin of 14.94% and a return on equity of 156.35%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the business earned $3.70 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Gartner, Inc. will post 11.36 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. BMO Capital Markets boosted their price target on shares of Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Morgan Stanley boosted their price target on shares of Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. UBS Group upgraded shares of Gartner from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $484.00 to $550.00 in a report on Thursday, April 11th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Gartner in a report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $477.60.

Insider Activity

In related news, EVP Yvonne Genovese sold 560 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $457.37, for a total transaction of $256,127.20. Following the transaction, the executive vice president now directly owns 2,398 shares of the company’s stock, valued at $1,096,773.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $453.00, for a total transaction of $308,946.00. Following the transaction, the executive vice president now directly owns 12,269 shares of the company’s stock, valued at $5,557,857. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Yvonne Genovese sold 560 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $457.37, for a total transaction of $256,127.20. Following the completion of the sale, the executive vice president now directly owns 2,398 shares of the company’s stock, valued at $1,096,773.26. The disclosure for this sale can be found here. Insiders have sold 22,952 shares of company stock worth $10,598,070 over the last 90 days. 3.60% of the stock is owned by company insiders.

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.