Lord Abbett & CO. LLC Acquires Shares of 46,000 Gartner, Inc. (NYSE:IT)

Lord Abbett & CO. LLC bought a new position in shares of Gartner, Inc. (NYSE:ITFree 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.

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

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

(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.

Recommended Stories

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:ITFree Report).

Institutional Ownership by Quarter for Gartner (NYSE:IT)

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.