Caisse DE Depot ET Placement DU Quebec Purchases New Shares in Gartner, Inc. (NYSE:IT)

Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Gartner, Inc. (NYSE:IT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 42,690 shares of the information technology services provider’s stock, valued at approximately $21,634,000. Caisse DE Depot ET Placement DU Quebec owned 0.06% of Gartner at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of IT. Transcend Capital Advisors LLC purchased a new stake in Gartner during the 2nd quarter valued at approximately $512,000. Cetera Investment Advisers increased its holdings in shares of Gartner by 245.0% in the first quarter. Cetera Investment Advisers now owns 21,453 shares of the information technology services provider’s stock valued at $10,226,000 after purchasing an additional 15,235 shares during the period. Choreo LLC purchased a new stake in shares of Gartner during the second quarter worth approximately $722,000. Victory Capital Management Inc. lifted its holdings in shares of Gartner by 43.3% during the second quarter. Victory Capital Management Inc. now owns 59,140 shares of the information technology services provider’s stock worth $26,557,000 after purchasing an additional 17,874 shares during the period. Finally, Czech National Bank grew its position in Gartner by 7.9% in the 2nd quarter. Czech National Bank now owns 14,794 shares of the information technology services provider’s stock valued at $6,643,000 after buying an additional 1,079 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Akhil Jain sold 500 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $492.00, for a total value of $246,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,339 shares of the company’s stock, valued at $2,134,788. The trade was a 10.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Eugene A. Hall sold 34,060 shares of the company’s 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 sale, the chief executive officer now owns 1,143,401 shares in the company, valued at $577,874,865.40. This represents a 2.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,149 shares of company stock worth $37,694,911 in the last three months. Corporate insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on IT. Morgan Stanley upped their price objective on shares of Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Wells Fargo & Company increased their price target on shares of Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Barclays lifted their price objective on Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Robert W. Baird increased their target price on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $539.25.

Gartner Price Performance

Shares of NYSE:IT opened at $517.93 on Monday. The firm has a market capitalization of $39.95 billion, a price-to-earnings ratio of 38.20, a price-to-earnings-growth ratio of 3.24 and a beta of 1.32. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. The business’s 50 day simple moving average is $521.01 and its 200-day simple moving average is $484.28. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $559.00.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.05. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. Gartner’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.56 earnings per share. As a group, equities analysts forecast that Gartner, Inc. will post 11.89 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.