Jennison Associates LLC Acquires 14,167 Shares of Gartner, Inc. (NYSE:IT)

Jennison Associates LLC boosted its position in Gartner, Inc. (NYSE:IT - Free Report) by 15.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 105,769 shares of the information technology services provider's stock after purchasing an additional 14,167 shares during the period. Jennison Associates LLC owned approximately 0.14% of Gartner worth $53,599,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IT. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Gartner in the third quarter worth approximately $36,789,000. W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in Gartner in the 3rd quarter worth approximately $224,000. Baron Wealth Management LLC grew its holdings in shares of Gartner by 4.1% during the 3rd quarter. Baron Wealth Management LLC now owns 481 shares of the information technology services provider's stock valued at $244,000 after acquiring an additional 19 shares in the last quarter. Meeder Advisory Services Inc. increased its position in Gartner by 10.7% in the 3rd quarter. Meeder Advisory Services Inc. now owns 1,940 shares of the information technology services provider's stock worth $983,000 after purchasing an additional 188 shares during the last quarter. Finally, AMG National Trust Bank purchased a new stake in shares of Gartner during the 3rd quarter worth about $207,000. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IT has been the subject of several recent research reports. BMO Capital Markets boosted their target price on shares of Gartner from $450.00 to $510.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 31st. UBS Group boosted their price target on Gartner from $510.00 to $580.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. Barclays increased their price objective on Gartner from $470.00 to $525.00 and gave the company an "equal weight" rating in a report on Wednesday, November 6th. Morgan Stanley raised their price objective on Gartner from $490.00 to $528.00 and gave the company an "equal weight" rating in a research note on Thursday, October 10th. Finally, Bank of America upped their target price on Gartner from $525.00 to $580.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $539.25.

Gartner Stock Performance

NYSE:IT traded down $2.13 during mid-day trading on Friday, hitting $517.11. 152,233 shares of the company's stock traded hands, compared to its average volume of 370,124. The firm has a market capitalization of $39.88 billion, a price-to-earnings ratio of 38.53, a price-to-earnings-growth ratio of 3.23 and a beta of 1.32. The firm has a 50 day moving average of $519.89 and a two-hundred day moving average of $480.23. 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 12 month low of $411.15 and a 12 month high of $559.00.

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

Insider Buying and Selling at Gartner

In related news, EVP Yvonne Genovese sold 443 shares of the company's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $483.62, for a total value of $214,243.66. Following the transaction, the executive vice president now owns 1,959 shares in the company, valued at approximately $947,411.58. This represents a 18.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eugene A. Hall sold 34,060 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the transaction, 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. Insiders have sold 73,172 shares of company stock worth $38,023,255 over the last 90 days. Company 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.