Gartner, Inc. (NYSE:IT) Stake Boosted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Gartner, Inc. (NYSE:IT) by 20.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,303 shares of the information technology services provider’s stock after purchasing an additional 1,078 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Gartner were worth $3,208,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. increased its position in Gartner by 11.8% in the first quarter. First Trust Direct Indexing L.P. now owns 1,915 shares of the information technology services provider’s stock worth $913,000 after buying an additional 202 shares during the period. American National Bank & Trust Co. VA acquired a new stake in Gartner in the first quarter worth $249,000. Commonwealth Equity Services LLC increased its position in Gartner by 15.8% in the first quarter. Commonwealth Equity Services LLC now owns 5,152 shares of the information technology services provider’s stock worth $2,456,000 after buying an additional 703 shares during the period. HB Wealth Management LLC increased its position in Gartner by 9.0% in the first quarter. HB Wealth Management LLC now owns 1,170 shares of the information technology services provider’s stock worth $558,000 after buying an additional 97 shares during the period. Finally, Findlay Park Partners LLP increased its position in Gartner by 5.7% in the first quarter. Findlay Park Partners LLP now owns 678,121 shares of the information technology services provider’s stock worth $323,240,000 after buying an additional 36,400 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Claire Herkes sold 478 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $506.01, for a total value of $241,872.78. Following the completion of the transaction, the executive vice president now owns 1,905 shares in the company, valued at $963,949.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Claire Herkes sold 478 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $506.01, for a total value of $241,872.78. Following the completion of the transaction, the executive vice president now owns 1,905 shares in the company, valued at $963,949.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Eugene A. Hall sold 34,060 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total value of $17,213,924.00. Following the completion of the transaction, the chief executive officer now owns 1,143,401 shares of the company’s stock, valued at $577,874,865.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,582 shares of company stock valued at $25,743,407 over the last three months. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IT. BMO Capital Markets raised their price target on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Wells Fargo & Company raised their price target on Gartner from $435.00 to $460.00 and gave the company an “underweight” rating in a report on Monday, October 14th. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Bank of America raised their price target on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, UBS Group raised their price target on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $532.86.

Gartner Price Performance

NYSE:IT opened at $518.25 on Wednesday. The business’s 50-day moving average price is $505.95 and its 200 day moving average price is $470.26. The firm has a market cap of $40.23 billion, a P/E ratio of 51.57, a PEG ratio of 3.25 and a beta of 1.32. Gartner, Inc. has a 52-week low of $324.98 and a 52-week high of $535.29. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 3.80.

Gartner (NYSE:IT) last released its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. Gartner’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.85 earnings per share. As a group, sell-side analysts predict that Gartner, Inc. will post 11.65 earnings per share for the current fiscal year.

Gartner 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.