Assetmark Inc. Boosts Holdings in Gartner, Inc. (NYSE:IT)

Assetmark Inc. raised its stake in Gartner, Inc. (NYSE:IT - Free Report) by 70.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,144 shares of the information technology services provider's stock after purchasing an additional 2,118 shares during the period. Assetmark Inc.'s holdings in Gartner were worth $2,607,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Gartner by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 8,974,760 shares of the information technology services provider's stock worth $4,277,999,000 after purchasing an additional 60,786 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Gartner by 5.5% in the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider's stock valued at $1,014,099,000 after buying an additional 103,814 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Gartner by 1.3% in the first quarter. Bessemer Group Inc. now owns 609,945 shares of the information technology services provider's stock valued at $290,742,000 after buying an additional 7,852 shares in the last quarter. Sustainable Growth Advisers LP acquired a new position in shares of Gartner during the second quarter valued at about $266,541,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Gartner by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 585,026 shares of the information technology services provider's stock worth $262,706,000 after acquiring an additional 56,908 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director James C. Smith sold 2,450 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $554.68, for a total value of $1,358,966.00. Following the sale, the director now directly owns 529,844 shares in the company, valued at approximately $293,893,869.92. The trade was a 0.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director James C. Smith sold 2,450 shares of Gartner stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $554.68, for a total value of $1,358,966.00. Following the completion of the transaction, the director now directly owns 529,844 shares in the company, valued at approximately $293,893,869.92. The trade was a 0.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James C. Smith sold 17,533 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $547.09, for a total value of $9,592,128.97. Following the sale, the director now 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. Insiders sold 73,172 shares of company stock valued at $38,023,255 over the last ninety days. 3.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

IT has been the topic of several recent research reports. BMO Capital Markets raised their price target on shares of Gartner from $450.00 to $510.00 and gave the company a "market perform" rating in a research report on Wednesday, July 31st. Bank of America increased their price objective on Gartner from $525.00 to $580.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Barclays lifted their target price on Gartner from $470.00 to $525.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 6th. Morgan Stanley increased their price target on Gartner from $490.00 to $528.00 and gave the company an "equal weight" rating in a research report on Thursday, October 10th. Finally, Robert W. Baird raised their price objective on Gartner from $565.00 to $590.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Gartner has a consensus rating of "Hold" and an average price target of $539.25.

Gartner Stock Performance

Shares of NYSE:IT traded down $14.70 during midday trading on Thursday, reaching $537.10. The company had a trading volume of 394,054 shares, compared to its average volume of 369,192. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $559.00. The company's 50 day moving average price is $516.48 and its 200 day moving average price is $476.56. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The stock has a market cap of $41.39 billion, a P/E ratio of 40.69, a P/E/G ratio of 3.44 and a beta of 1.32.

Gartner (NYSE:IT - Get Free Report) last released 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 firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same period in the previous year, the company earned $2.56 earnings per share. The company's quarterly revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Gartner, Inc. will post 11.89 EPS for the current fiscal 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.