Geode Capital Management LLC Boosts Stock Position in Gartner, Inc. (NYSE:IT)

Geode Capital Management LLC raised its position in shares of Gartner, Inc. (NYSE:IT - Free Report) by 2.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,063,577 shares of the information technology services provider's stock after buying an additional 45,219 shares during the quarter. Geode Capital Management LLC owned 2.68% of Gartner worth $998,400,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in IT. Principal Financial Group Inc. raised its position in Gartner by 5.5% during 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 during the period. D.A. Davidson & CO. boosted its stake in shares of Gartner by 4.2% during the 3rd quarter. D.A. Davidson & CO. now owns 1,108 shares of the information technology services provider's stock valued at $561,000 after buying an additional 45 shares during the period. CreativeOne Wealth LLC purchased a new position in shares of Gartner during the 3rd quarter valued at $229,000. Public Sector Pension Investment Board raised its holdings in shares of Gartner by 13.7% during the third quarter. Public Sector Pension Investment Board now owns 3,330 shares of the information technology services provider's stock worth $1,688,000 after acquiring an additional 400 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in Gartner by 3.5% during the third quarter. Captrust Financial Advisors now owns 7,093 shares of the information technology services provider's stock valued at $3,594,000 after purchasing an additional 237 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

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Gartner Price Performance

Shares of IT traded down $3.42 during trading hours on Monday, hitting $379.82. 412,704 shares of the company were exchanged, compared to its average volume of 436,259. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The company has a market cap of $29.18 billion, a price-to-earnings ratio of 23.55, a P/E/G ratio of 3.30 and a beta of 1.26. The firm's fifty day moving average is $482.71 and its 200 day moving average is $502.12. Gartner, Inc. has a fifty-two week low of $297.73 and a fifty-two week high of $584.01.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating the consensus estimate of $3.22 by $2.23. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. Gartner's revenue was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $3.04 earnings per share. On average, equities analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IT has been the topic of a number of research reports. UBS Group dropped their price objective on Gartner from $565.00 to $500.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. Barclays cut their price objective on Gartner from $600.00 to $510.00 and set an "overweight" rating on the stock in a research note on Friday. Wells Fargo & Company cut their price objective on Gartner from $470.00 to $460.00 and set an "underweight" rating for the company in a research report on Friday, January 10th. Robert W. Baird dropped their price objective on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Gartner in a research report on Tuesday, February 4th. One research 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, the stock presently has an average rating of "Hold" and an average target price of $525.38.

Insider Buying and Selling at Gartner

In related 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 transaction of $587,724.00. Following the transaction, the director now directly owns 1,627 shares of the company's stock, valued at approximately $796,855.79. This represents a 42.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John J. Rinello sold 90 shares of the company's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares in the company, valued at $1,728,932.09. This represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.60% of the company's stock.

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.