iA Global Asset Management Inc. Raises Position in Gartner, Inc. (NYSE:IT)

iA Global Asset Management Inc. grew its position in Gartner, Inc. (NYSE:IT) by 10.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,392 shares of the information technology services provider’s stock after acquiring an additional 415 shares during the period. iA Global Asset Management Inc.’s holdings in Gartner were worth $2,128,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kestra Investment Management LLC purchased a new stake in Gartner during the fourth quarter worth about $29,000. True Wealth Design LLC boosted its holdings in Gartner by 2,350.0% during the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after buying an additional 94 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Gartner during the fourth quarter worth about $49,000. Promus Capital LLC purchased a new stake in Gartner during the fourth quarter worth about $57,000. Finally, Global Retirement Partners LLC boosted its holdings in Gartner by 14.0% during the fourth quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock worth $134,000 after buying an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other news, SVP John J. Rinello sold 90 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the sale, the director now directly owns 1,627 shares of the company’s stock, valued at $796,855.79. The trade was a 42.45 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

IT has been the topic of a number of research analyst reports. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $525.00 to $600.00 in a report on Friday, January 10th. Morgan Stanley reduced their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company reduced their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a report on Friday, January 10th. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a report on Friday. Finally, Robert W. Baird reduced their price target on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Gartner currently has a consensus rating of “Hold” and a consensus target price of $546.63.

Gartner Stock Performance

NYSE:IT opened at $430.03 on Friday. The firm has a 50 day simple moving average of $502.37 and a 200-day simple moving average of $507.66. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $33.03 billion, a PE ratio of 26.83, a P/E/G ratio of 3.30 and a beta of 1.29. Gartner, Inc. has a 1-year low of $409.50 and a 1-year high of $584.01.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the previous year, the business posted $3.04 earnings per share. The company’s revenue was up 8.1% on a year-over-year basis. On average, equities analysts expect that Gartner, Inc. will post 12.5 EPS 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.