Meeder Advisory Services Inc. Acquires 59 Shares of Gartner, Inc. (NYSE:IT)

Meeder Advisory Services Inc. boosted its holdings in Gartner, Inc. (NYSE:IT) by 3.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,999 shares of the information technology services provider’s stock after purchasing an additional 59 shares during the period. Meeder Advisory Services Inc.’s holdings in Gartner were worth $968,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Gartner by 1.1% in the fourth 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 last quarter. State Street Corp grew its holdings in Gartner by 1.1% in the 3rd quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock worth $1,650,697,000 after acquiring an additional 36,258 shares during the last quarter. Geode Capital Management LLC grew 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 worth $998,400,000 after acquiring an additional 45,219 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Gartner by 0.6% during the fourth 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 during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Gartner by 12.7% during the fourth quarter. Wellington Management Group LLP now owns 1,662,005 shares of the information technology services provider’s stock worth $805,192,000 after purchasing an additional 187,854 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gartner

In related news, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The sale 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 company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 1,627 shares in the company, valued at $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.

Gartner Stock Down 4.6 %

Shares of Gartner stock opened at $404.98 on Friday. Gartner, Inc. has a 1 year low of $402.30 and a 1 year high of $584.01. The firm has a market cap of $31.11 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 3.30 and a beta of 1.29. The company has a 50-day moving average of $485.63 and a 200 day moving average of $503.07. 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 (NYSE:IT) last announced its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating 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 business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the firm earned $3.04 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on IT shares. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $525.00 to $600.00 in a research report on Friday, January 10th. Wells Fargo & Company dropped their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Morgan Stanley cut their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Robert W. Baird decreased their price objective on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $536.63.

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.