Envestnet Asset Management Inc. Has $97.10 Million Stake in Gartner, Inc. (NYSE:IT)

Envestnet Asset Management Inc. lessened its stake in Gartner, Inc. (NYSE:IT - Free Report) by 33.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 200,434 shares of the information technology services provider's stock after selling 99,275 shares during the quarter. Envestnet Asset Management Inc. owned about 0.26% of Gartner worth $97,104,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Gartner by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 9,268,639 shares of the information technology services provider's stock valued at $4,490,378,000 after buying an additional 100,917 shares during the period. Geode Capital Management LLC lifted its holdings in Gartner by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 2,063,577 shares of the information technology services provider's stock worth $998,400,000 after acquiring an additional 45,219 shares in the last quarter. Principal Financial Group Inc. grew its stake in Gartner by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider's stock valued at $975,141,000 after acquiring an additional 11,657 shares during the period. Wellington Management Group LLP increased its holdings in shares of Gartner by 12.7% in the fourth quarter. Wellington Management Group LLP now owns 1,662,005 shares of the information technology services provider's stock worth $805,192,000 after acquiring an additional 187,854 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Gartner by 7.3% during the third quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider's stock worth $525,272,000 after purchasing an additional 70,236 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. UBS Group decreased their price objective on Gartner from $565.00 to $500.00 and set a "buy" rating for the company in a research report on Tuesday, March 25th. The Goldman Sachs Group reiterated a "buy" rating on shares of Gartner in a report on Tuesday, February 4th. Wells Fargo & Company dropped their price objective on shares of Gartner from $488.00 to $401.00 and set an "underweight" rating on the stock in a report on Wednesday, April 9th. StockNews.com lowered shares of Gartner from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. Finally, Robert W. Baird dropped their price target on Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $518.00.

Gartner Stock Up 2.3 %

IT traded up $9.33 on Monday, hitting $409.21. 94,584 shares of the company were exchanged, compared to its average volume of 642,276. The stock's fifty day moving average is $461.38 and its 200-day moving average is $496.20. Gartner, Inc. has a 12 month low of $366.05 and a 12 month high of $584.01. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market cap of $31.43 billion, a PE ratio of 25.53, a PEG ratio of 3.30 and a beta of 1.26.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.22 by $2.23. The company had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The business's revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.04 EPS. Equities research analysts predict that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Buying and Selling at Gartner

In other Gartner news, Director Eileen Serra sold 1,200 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the sale, the director now owns 1,627 shares in the company, valued at $796,855.79. This represents a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP John J. Rinello sold 90 shares of the firm's stock in a transaction that occurred 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 directly owns 3,259 shares of the company's stock, valued at approximately $1,728,932.09. The trade was a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company's stock.

Gartner 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.