Erste Asset Management GmbH Invests $7.63 Million in Gartner, Inc. (NYSE:IT)

Erste Asset Management GmbH purchased a new stake in shares of Gartner, Inc. (NYSE:IT) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 15,000 shares of the information technology services provider’s stock, valued at approximately $7,634,000.

A number of other institutional investors also recently modified their holdings of IT. Sustainable Growth Advisers LP bought a new stake in Gartner during the second quarter valued at about $266,541,000. Principal Financial Group Inc. lifted its position in shares of Gartner by 22.0% during the 2nd quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock worth $852,014,000 after purchasing an additional 341,911 shares during the last quarter. Natixis Advisors LLC boosted its stake in Gartner by 117.4% during the 2nd quarter. Natixis Advisors LLC now owns 200,097 shares of the information technology services provider’s stock valued at $89,856,000 after purchasing an additional 108,061 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Gartner in the 3rd quarter valued at approximately $36,789,000. Finally, Mizuho Securities USA LLC increased its position in Gartner by 1,074.8% in the 3rd quarter. Mizuho Securities USA LLC now owns 70,312 shares of the information technology services provider’s stock worth $35,631,000 after buying an additional 64,327 shares during the period. Institutional investors own 91.51% of the company’s stock.

Gartner Stock Down 0.3 %

NYSE IT opened at $517.93 on Monday. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $559.00. The company has a market capitalization of $39.95 billion, a price-to-earnings ratio of 38.20, a PEG ratio of 3.24 and a beta of 1.32. The stock’s 50 day moving average is $521.01 and its two-hundred day moving average is $484.28. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm earned $2.56 EPS. Gartner’s quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts forecast that Gartner, Inc. will post 11.89 earnings per share for the current fiscal year.

Insider Transactions at Gartner

In other Gartner news, EVP Claire Herkes sold 478 shares of Gartner 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 approximately $963,949.05. The trade was a 20.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James C. Smith sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $524.02, for a total value of $2,620,100.00. Following the completion of the transaction, the director now directly owns 509,457 shares in the company, valued at approximately $266,965,657.14. This represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,149 shares of company stock valued at $37,694,911. 3.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on IT shares. Robert W. Baird raised their price objective on shares of Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Morgan Stanley raised their price target 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 upped their price objective on shares of Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Barclays raised their price objective on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $539.25.

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.