Federated Hermes Inc. Raises Position in Gartner, Inc. (NYSE:IT)

Federated Hermes Inc. raised its stake in Gartner, Inc. (NYSE:IT - Free Report) by 165.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 170,709 shares of the information technology services provider's stock after purchasing an additional 106,514 shares during the period. Federated Hermes Inc. owned 0.22% of Gartner worth $82,703,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new position in Gartner during the 4th quarter valued at approximately $460,541,000. Madison Investment Advisors LLC bought a new position in Gartner in the 4th quarter valued at about $244,799,000. Raymond James Financial Inc. acquired a new position in Gartner during the 4th quarter valued at about $165,476,000. Fisher Funds Management LTD acquired a new position in shares of Gartner during the fourth quarter valued at approximately $97,518,000. Finally, Proficio Capital Partners LLC bought a new position in Gartner during the fourth quarter valued at about $95,762,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on IT shares. Robert W. Baird decreased their target price on Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. The Goldman Sachs Group reissued a "buy" rating on shares of Gartner in a research report on Tuesday, February 4th. Barclays reduced their price target on Gartner from $600.00 to $510.00 and set an "overweight" rating for the company in a report on Friday, April 4th. Morgan Stanley dropped their price target on shares of Gartner from $564.00 to $555.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 16th. Finally, UBS Group lowered their target price on shares of Gartner from $565.00 to $500.00 and set a "buy" rating on the stock in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $518.00.

Remove Ads

Gartner Stock Up 2.0 %

IT stock traded up $7.81 during mid-day trading on Friday, reaching $399.84. The company had a trading volume of 574,913 shares, compared to its average volume of 449,470. The company has a market capitalization of $30.71 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 3.30 and a beta of 1.26. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. Gartner, Inc. has a 52 week low of $366.05 and a 52 week high of $584.01. The stock has a 50 day simple moving average of $461.38 and a two-hundred day simple moving average of $496.34.

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

Insiders Place Their Bets

In other Gartner news, Director Eileen Serra sold 1,200 shares of the company's stock in a transaction dated 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 approximately $796,855.79. The trade was a 42.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP John J. Rinello sold 90 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the sale, the senior vice president now 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 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.