Thrivent Financial for Lutherans Buys 2,875 Shares of Gartner, Inc. (NYSE:IT)

Thrivent Financial for Lutherans raised its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 8.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,824 shares of the information technology services provider's stock after buying an additional 2,875 shares during the quarter. Thrivent Financial for Lutherans' holdings in Gartner were worth $19,168,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in IT. Eastern Bank purchased a new stake in shares of Gartner in the 3rd quarter worth about $26,000. Ashton Thomas Securities LLC purchased a new stake in Gartner in the third quarter worth about $44,000. Crewe Advisors LLC increased its stake in shares of Gartner by 223.3% during the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider's stock valued at $44,000 after purchasing an additional 67 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider's stock valued at $53,000 after purchasing an additional 20 shares during the last quarter. Finally, Asset Dedication LLC boosted its position in shares of Gartner by 46.5% in the 3rd quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider's stock worth $75,000 after purchasing an additional 47 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Stock Performance

Shares of IT traded up $1.54 during mid-day trading on Thursday, hitting $519.54. 338,900 shares of the company traded hands, compared to its average volume of 371,088. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $559.00. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50-day moving average price of $519.61 and a two-hundred day moving average price of $479.95. The stock has a market cap of $40.07 billion, a price-to-earnings ratio of 38.29, a P/E/G ratio of 3.23 and a beta of 1.32.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.05. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The company's revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.56 EPS. Equities analysts anticipate that Gartner, Inc. will post 11.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IT. StockNews.com raised Gartner from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th. Bank of America lifted their price target on Gartner from $525.00 to $580.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. Barclays increased their price objective on shares of Gartner from $470.00 to $525.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Gartner from $529.00 to $531.00 and gave the stock a "hold" rating in a report on Wednesday, November 6th. Finally, Morgan Stanley increased their price target on shares of Gartner from $490.00 to $528.00 and gave the company an "equal weight" rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $539.25.

Insider Activity at Gartner

In related news, Director James C. Smith sold 2,450 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $554.68, for a total value of $1,358,966.00. Following the transaction, the director now directly owns 529,844 shares of the company's stock, valued at approximately $293,893,869.92. The trade was a 0.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eugene A. Hall sold 34,060 shares of Gartner 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 sale, the chief executive officer now owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. The trade was a 2.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,172 shares of company stock worth $38,023,255. 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.