Machina Capital S.A.S. Invests $2.03 Million in Gartner, Inc. (NYSE:IT)

Machina Capital S.A.S. acquired a new stake in Gartner, Inc. (NYSE:IT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,195 shares of the information technology services provider's stock, valued at approximately $2,032,000. Gartner accounts for 0.9% of Machina Capital S.A.S.'s holdings, making the stock its 15th biggest holding.

Several other hedge funds have also recently bought and sold shares of IT. State Street Corp grew its position in shares of Gartner by 1.1% during the third quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider's stock worth $1,650,697,000 after buying an additional 36,258 shares in the last quarter. Geode Capital Management LLC raised its holdings in Gartner by 1.9% in the third quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider's stock valued at $1,020,378,000 after acquiring an additional 36,698 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Gartner by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider's stock worth $975,141,000 after acquiring an additional 11,657 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Gartner by 7.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider's stock worth $525,272,000 after acquiring an additional 70,236 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Gartner by 3.3% in the 3rd quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider's stock valued at $422,678,000 after purchasing an additional 25,315 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

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Gartner Stock Performance

Shares of IT traded down $4.98 during mid-day trading on Tuesday, hitting $466.63. 470,133 shares of the company's stock were exchanged, compared to its average volume of 372,218. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. Gartner, Inc. has a fifty-two week low of $384.03 and a fifty-two week high of $584.01. The business's 50 day moving average is $509.57 and its two-hundred day moving average is $510.31. The firm has a market capitalization of $35.85 billion, a P/E ratio of 29.11, a P/E/G ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the firm earned $3.04 EPS. On average, equities analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insider Activity at Gartner

In related news, SVP John J. Rinello sold 90 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now owns 3,259 shares of the company's stock, valued at approximately $1,728,932.09. The trade was a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction on Monday, February 24th. The stock was sold at an average price of $489.77, for a total value 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. This trade represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

IT has been the subject of several recent analyst reports. StockNews.com raised shares of Gartner from a "hold" rating to a "buy" rating in a research report on Wednesday, March 5th. Barclays upgraded Gartner from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $525.00 to $600.00 in a research note on Friday, January 10th. Morgan Stanley lowered their price objective on Gartner from $564.00 to $555.00 and set an "equal weight" rating for the company in a research report on Thursday, January 16th. The Goldman Sachs Group reissued a "buy" rating on shares of Gartner in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company decreased their target price on Gartner from $470.00 to $460.00 and set an "underweight" rating for the company in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $552.63.

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.