OFI Invest Asset Management Makes New Investment in Gartner, Inc. (NYSE:IT)

OFI Invest Asset Management bought a new stake in Gartner, Inc. (NYSE:IT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,084 shares of the information technology services provider's stock, valued at approximately $3,314,000.

Several other hedge funds and other institutional investors have also modified their holdings of IT. Kestra Investment Management LLC acquired a new stake in Gartner during the 4th quarter worth about $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of Gartner in the third quarter worth approximately $44,000. SBI Securities Co. Ltd. acquired a new stake in shares of Gartner during the fourth quarter worth approximately $49,000. True Wealth Design LLC grew its position in Gartner by 2,350.0% during the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider's stock valued at $50,000 after purchasing an additional 94 shares in the last quarter. Finally, Promus Capital LLC acquired a new position in Gartner in the 4th quarter valued at approximately $57,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Buying and Selling at Gartner

In other Gartner news, Director Eileen Serra sold 1,200 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the sale, the director now directly owns 1,627 shares of the company's stock, valued at $796,855.79. This represents a 42.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP John J. Rinello sold 90 shares of the firm's stock in a transaction on 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IT shares. Robert W. Baird lifted their target price on shares of Gartner from $579.00 to $605.00 and gave the company an "outperform" rating in a research note on Wednesday, February 5th. Morgan Stanley reduced 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. Wells Fargo & Company dropped their target price on Gartner from $470.00 to $460.00 and set an "underweight" rating on the stock in a research report on Friday, January 10th. Barclays upgraded Gartner from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $525.00 to $600.00 in a report on Friday, January 10th. Finally, StockNews.com upgraded Gartner from a "hold" rating to a "buy" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $552.63.

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Gartner Stock Down 0.2 %

IT opened at $482.18 on Friday. The firm has a market cap of $37.04 billion, a P/E ratio of 30.08, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The business has a 50 day moving average price of $509.85 and a 200 day moving average price of $509.97. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $584.01.

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

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.

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