Lord Abbett & CO. LLC bought a new position in shares of Gartner, Inc. (NYSE:IT – Free Report) during the third quarter, according to its most recent filing with the SEC. The fund bought 46,000 shares of the information technology services provider’s stock, valued at approximately $23,311,000. Lord Abbett & CO. LLC owned 0.06% of Gartner at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Eastern Bank purchased a new position in Gartner in the third quarter valued at approximately $26,000. Crewe Advisors LLC lifted its position in shares of Gartner by 223.3% during the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after buying an additional 67 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Gartner during the 3rd quarter worth $44,000. True Wealth Design LLC increased its holdings in Gartner by 2,350.0% in the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after acquiring an additional 94 shares during the last quarter. Finally, Fortitude Family Office LLC raised its stake in Gartner by 23.8% in the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after acquiring an additional 20 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.
Gartner Stock Performance
NYSE:IT opened at $508.46 on Monday. The stock has a market cap of $39.22 billion, a P/E ratio of 37.50, a PEG ratio of 3.24 and a beta of 1.31. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. The business’s 50-day moving average price is $522.13 and its two-hundred day moving average price is $489.32. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $559.00.
Insider Transactions at Gartner
In other news, EVP William James Wartinbee III sold 189 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $523.54, for a total value of $98,949.06. Following the completion of the sale, the executive vice president now directly owns 7,311 shares in the company, valued at approximately $3,827,600.94. The trade was a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James C. Smith sold 17,533 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $547.09, for a total transaction of $9,592,128.97. Following the transaction, the director now directly owns 532,294 shares in the company, valued at approximately $291,212,724.46. This represents a 3.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,583 shares of company stock valued at $19,241,974. Insiders own 3.60% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Gartner from $560.00 to $564.00 and gave the stock an “equal weight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Wells Fargo & Company increased their target price on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. Barclays lifted their price target on Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Finally, StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $543.75.
Check Out Our Latest Stock Report on Gartner
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.
Recommended Stories
- Five stocks we like better than Gartner
- Canada Bond Market Holiday: How to Invest and Trade
- Dave & Buster’s: Is It Time to Make Another Play on This Stock?
- What is a buyback in stocks? A comprehensive guide for investors
- Why Hershey Stock Has More Room to Run Despite Takeover Rejection
- Why Are Stock Sectors Important to Successful Investing?
- Texas Instruments: The Old-School Tech Titan Still Delivering
Want to see what other hedge funds are holding IT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gartner, Inc. (NYSE:IT – Free Report).
Receive News & Ratings for Gartner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gartner and related companies with MarketBeat.com's FREE daily email newsletter.