Daiwa Securities Group Inc. Increases Stock Position in Gartner, Inc. (NYSE:IT)

Daiwa Securities Group Inc. raised its position in Gartner, Inc. (NYSE:IT) by 12.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,818 shares of the information technology services provider’s stock after purchasing an additional 1,073 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Gartner were worth $4,975,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. B. Riley Wealth Advisors Inc. raised its holdings in shares of Gartner by 20.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 593 shares of the information technology services provider’s stock valued at $283,000 after buying an additional 102 shares during the period. Tidal Investments LLC raised its stake in shares of Gartner by 24.4% during the first quarter. Tidal Investments LLC now owns 9,890 shares of the information technology services provider’s stock valued at $4,717,000 after purchasing an additional 1,940 shares during the period. Plato Investment Management Ltd lifted its position in shares of Gartner by 2,455.8% during the first quarter. Plato Investment Management Ltd now owns 2,198 shares of the information technology services provider’s stock worth $1,048,000 after purchasing an additional 2,112 shares in the last quarter. Wahed Invest LLC boosted its stake in shares of Gartner by 13.2% in the first quarter. Wahed Invest LLC now owns 1,481 shares of the information technology services provider’s stock valued at $706,000 after purchasing an additional 173 shares during the period. Finally, Virtu Financial LLC acquired a new stake in Gartner during the 1st quarter valued at $1,513,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. 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. UBS Group upped their target price on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Robert W. Baird raised their price target on shares of Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Bank of America upped their price target on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley upped their target price on shares of Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. One 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $539.25.

Insiders Place Their Bets

In related news, CEO Eugene A. Hall sold 34,060 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total value of $17,213,924.00. Following the completion of the transaction, the chief executive officer now directly owns 1,143,401 shares of the company’s stock, valued at $577,874,865.40. This represents a 2.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Scott Hensel sold 5,580 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $490.00, for a total value of $2,734,200.00. Following the transaction, the executive vice president now owns 19,724 shares of the company’s stock, valued at $9,664,760. This trade represents a 22.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,729 shares of company stock valued at $37,809,011 over the last three months. Company insiders own 3.60% of the company’s stock.

Gartner Trading Up 0.8 %

NYSE IT opened at $523.13 on Wednesday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. Gartner, Inc. has a one year low of $411.15 and a one year high of $559.00. The company has a 50-day simple moving average of $520.24 and a 200-day simple moving average of $482.02. The firm has a market capitalization of $40.35 billion, a PE ratio of 38.58, a price-to-earnings-growth ratio of 3.25 and a beta of 1.32.

Gartner (NYSE:IT) last posted its 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. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.56 earnings per share. On average, equities analysts forecast that Gartner, Inc. will post 11.89 earnings per share for the current year.

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.