PNC Financial Services Group Inc. Boosts Stock Position in Gartner, Inc. (NYSE:IT)

PNC Financial Services Group Inc. boosted its holdings in shares of Gartner, Inc. (NYSE:ITFree Report) by 29.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,520 shares of the information technology services provider’s stock after purchasing an additional 6,030 shares during the period. PNC Financial Services Group Inc.’s holdings in Gartner were worth $11,963,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fox Run Management L.L.C. bought a new stake in Gartner during the 3rd quarter valued at approximately $230,000. RFG Advisory LLC raised its holdings in Gartner by 37.2% in the fourth quarter. RFG Advisory LLC now owns 1,589 shares of the information technology services provider’s stock worth $717,000 after purchasing an additional 431 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Gartner by 169.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 37,708 shares of the information technology services provider’s stock valued at $17,010,000 after buying an additional 23,701 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Gartner by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 461,813 shares of the information technology services provider’s stock valued at $208,328,000 after buying an additional 10,828 shares in the last quarter. Finally, Chapin Davis Inc. purchased a new stake in shares of Gartner in the 4th quarter worth about $960,000. Institutional investors own 91.51% of the company’s stock.

Gartner Trading Up 0.5 %

Shares of NYSE:IT opened at $451.66 on Thursday. Gartner, Inc. has a 1 year low of $323.61 and a 1 year high of $486.54. The stock’s fifty day moving average price is $456.15 and its 200-day moving average price is $450.13. The company has a market cap of $35.06 billion, a P/E ratio of 44.94, a PEG ratio of 3.93 and a beta of 1.32. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91.

Gartner (NYSE:ITGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.40. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the firm posted $2.88 EPS. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. Sell-side analysts expect that Gartner, Inc. will post 11.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IT. UBS Group dropped their price objective on shares of Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft started coverage on Gartner in a research note on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price target on the stock. Robert W. Baird dropped their target price on Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Morgan Stanley raised their price target on Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Finally, StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research note on Saturday, May 18th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $474.50.

Get Our Latest Research Report on IT

Insiders Place Their Bets

In other news, EVP Yvonne Genovese sold 439 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $456.13, for a total value of $200,241.07. Following the transaction, the executive vice president now directly owns 1,959 shares in the company, valued at approximately $893,558.67. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Claire Herkes sold 1,460 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $475.76, for a total value of $694,609.60. Following the transaction, the executive vice president now directly owns 2,842 shares of the company’s stock, valued at approximately $1,352,109.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Yvonne Genovese sold 439 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $456.13, for a total transaction of $200,241.07. Following the sale, the executive vice president now owns 1,959 shares in the company, valued at approximately $893,558.67. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,709 shares of company stock valued at $12,766,365. Company insiders own 3.60% of the company’s stock.

Gartner Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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