Harvest Fund Management Co. Ltd Increases Stake in Gartner, Inc. (NYSE:IT)

Harvest Fund Management Co. Ltd increased its position in shares of Gartner, Inc. (NYSE:IT) by 127.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 318 shares of the information technology services provider’s stock after buying an additional 178 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Gartner were worth $143,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in IT. Principal Financial Group Inc. boosted its position in Gartner by 30.3% during the third quarter. Principal Financial Group Inc. now owns 1,565,046 shares of the information technology services provider’s stock valued at $537,766,000 after purchasing an additional 364,128 shares in the last quarter. American Century Companies Inc. boosted its position in Gartner by 888.4% during the third quarter. American Century Companies Inc. now owns 300,106 shares of the information technology services provider’s stock valued at $103,119,000 after purchasing an additional 269,744 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in Gartner during the third quarter valued at about $83,588,000. Allspring Global Investments Holdings LLC boosted its position in Gartner by 384.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 201,553 shares of the information technology services provider’s stock valued at $69,257,000 after purchasing an additional 159,989 shares in the last quarter. Finally, Artisan Partners Limited Partnership bought a new stake in Gartner during the third quarter valued at about $48,614,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Stock Up 0.2 %

Shares of IT stock opened at $451.06 on Thursday. The stock has a 50 day moving average of $464.99 and a 200 day moving average of $437.07. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.60. The stock has a market cap of $35.17 billion, a P/E ratio of 40.78, a P/E/G ratio of 4.13 and a beta of 1.29. Gartner, Inc. has a twelve month low of $292.60 and a twelve month high of $486.54.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.21. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Gartner had a return on equity of 156.35% and a net margin of 14.94%. Gartner’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the business earned $3.70 earnings per share. As a group, sell-side analysts expect that Gartner, Inc. will post 11.3 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. BMO Capital Markets raised their price objective on Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a research report on Thursday, February 8th. Morgan Stanley raised their price target on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft began coverage on Gartner in a report on Tuesday, April 16th. They set a “hold” rating and a $507.00 target price for the company. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. Finally, UBS Group raised Gartner from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $484.00 to $550.00 in a report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $477.60.

Insider Activity at Gartner

In other news, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the sale, the executive vice president now directly owns 12,269 shares in the company, valued at $5,557,857. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the sale, the executive vice president now directly owns 12,269 shares in the company, valued at $5,557,857. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James C. Smith sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $455.00, for a total value of $2,275,000.00. Following the completion of the sale, the director now owns 638,235 shares of the company’s stock, valued at $290,396,925. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,952 shares of company stock worth $10,598,070. 3.60% of the stock is owned by corporate insiders.

Gartner Company Profile

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.