ING Groep NV Acquires 2,860 Shares of Gartner, Inc. (NYSE:IT)

ING Groep NV lifted its stake in Gartner, Inc. (NYSE:IT - Free Report) by 38.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,306 shares of the information technology services provider's stock after purchasing an additional 2,860 shares during the period. ING Groep NV's holdings in Gartner were worth $5,223,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Eastern Bank acquired a new stake in Gartner during the 3rd quarter worth $26,000. Crewe Advisors LLC raised its stake in Gartner by 223.3% during the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider's stock worth $44,000 after buying an additional 67 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Gartner during the 3rd quarter worth $44,000. Fortitude Family Office LLC raised its stake in Gartner by 23.8% during the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider's stock worth $53,000 after buying an additional 20 shares during the period. Finally, Asset Dedication LLC raised its stake in Gartner by 46.5% during the 3rd quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider's stock worth $75,000 after buying an additional 47 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Eugene A. Hall sold 34,060 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the completion of the transaction, the chief executive officer now directly owns 1,143,401 shares of the company's stock, valued at $577,874,865.40. This represents a 2.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Yvonne Genovese sold 443 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $483.62, for a total transaction of $214,243.66. Following the transaction, the executive vice president now directly owns 1,959 shares of the company's stock, valued at $947,411.58. This represents a 18.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,172 shares of company stock worth $38,023,255. Company insiders own 3.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on IT shares. Wells Fargo & Company lifted their price target on Gartner from $460.00 to $470.00 and gave the company an "underweight" rating in a research note on Wednesday, November 6th. Bank of America lifted their price target on Gartner from $525.00 to $580.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Robert W. Baird lifted their price target on Gartner from $565.00 to $590.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. BMO Capital Markets lifted their price target on Gartner from $450.00 to $510.00 and gave the company a "market perform" rating in a research note on Wednesday, July 31st. Finally, UBS Group lifted their price target on Gartner from $510.00 to $580.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $539.25.

Gartner Stock Down 2.7 %

Shares of NYSE IT traded down $14.24 during mid-day trading on Friday, hitting $522.86. The company had a trading volume of 460,026 shares, compared to its average volume of 369,857. The company has a market capitalization of $40.29 billion, a PE ratio of 38.55, a price-to-earnings-growth ratio of 3.45 and a beta of 1.32. The firm has a 50-day simple moving average of $518.32 and a two-hundred day simple moving average of $477.49. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. Gartner, Inc. has a one year low of $411.15 and a one year high of $559.00.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, topping analysts' consensus estimates of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter last year, the company posted $2.56 earnings per share. Gartner's quarterly revenue was up 5.4% on a year-over-year basis. On average, equities analysts expect that Gartner, Inc. will post 11.89 EPS for the current year.

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.