Invesco Ltd. Buys 60,306 Shares of Gartner, Inc. (NYSE:IT)

Invesco Ltd. lifted its stake in Gartner, Inc. (NYSE:IT - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 955,134 shares of the information technology services provider's stock after purchasing an additional 60,306 shares during the quarter. Invesco Ltd. owned about 1.24% of Gartner worth $462,734,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in IT. Czech National Bank increased its stake in Gartner by 6.5% during the 4th quarter. Czech National Bank now owns 16,725 shares of the information technology services provider's stock valued at $8,103,000 after purchasing an additional 1,028 shares in the last quarter. Entropy Technologies LP purchased a new position in Gartner in the 4th quarter worth approximately $366,000. D.A. Davidson & CO. raised its holdings in Gartner by 2.6% in the 4th quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider's stock worth $551,000 after acquiring an additional 29 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in Gartner by 1.5% during the 4th quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider's stock valued at $15,322,000 after purchasing an additional 480 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Gartner by 0.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 3,379 shares of the information technology services provider's stock worth $1,637,000 after purchasing an additional 30 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IT. StockNews.com downgraded Gartner from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Barclays dropped their price target on shares of Gartner from $600.00 to $510.00 and set an "overweight" rating on the stock in a report on Friday, April 4th. Morgan Stanley decreased their price objective on shares of Gartner from $564.00 to $555.00 and set an "equal weight" rating for the company in a report on Thursday, January 16th. UBS Group dropped their target price on shares of Gartner from $565.00 to $500.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. 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 research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $518.00.

Gartner Stock Performance

Shares of NYSE:IT traded up $8.84 during mid-day trading on Monday, reaching $408.72. 109,465 shares of the company traded hands, compared to its average volume of 448,706. The company's 50 day moving average price is $461.38 and its 200-day moving average price is $496.20. The firm has a market cap of $31.40 billion, a PE ratio of 25.50, a PEG ratio of 3.30 and a beta of 1.26. Gartner, Inc. has a 52 week low of $366.05 and a 52 week high of $584.01. 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 (NYSE:IT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, topping analysts' consensus estimates of $3.22 by $2.23. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company's revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.04 earnings per share. On average, equities analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Buying and Selling at Gartner

In related news, SVP John J. Rinello sold 90 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the transaction, the senior vice president now owns 3,259 shares in the company, valued at approximately $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the transaction, the director now directly owns 1,627 shares of the company's stock, valued at $796,855.79. The trade was a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.