Prudential PLC Raises Stake in Gartner, Inc. (NYSE:IT)

Prudential PLC boosted its stake in Gartner, Inc. (NYSE:IT - Free Report) by 23.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,340 shares of the information technology services provider's stock after acquiring an additional 1,995 shares during the period. Prudential PLC's holdings in Gartner were worth $5,009,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new stake in Gartner in the 4th quarter valued at $29,000. SBI Securities Co. Ltd. acquired a new position in Gartner in the fourth quarter valued at $49,000. Promus Capital LLC purchased a new stake in shares of Gartner in the fourth quarter valued at about $57,000. Global Retirement Partners LLC boosted its stake in shares of Gartner by 14.0% during the fourth quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider's stock worth $134,000 after buying an additional 34 shares during the period. Finally, Hanson & Doremus Investment Management acquired a new stake in shares of Gartner during the fourth quarter worth about $145,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Gartner Price Performance

Shares of IT traded up $7.81 during trading hours on Friday, reaching $399.84. The company had a trading volume of 574,913 shares, compared to its average volume of 449,470. 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 12-month low of $366.05 and a 12-month high of $584.01. The firm has a 50 day simple moving average of $461.38 and a 200-day simple moving average of $496.34. The company has a market capitalization of $30.71 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 3.30 and a beta of 1.26.

Remove Ads

Gartner (NYSE:IT - Get Free Report) last issued its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating 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 net margin of 20.00% and a return on equity of 116.56%. The firm's quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the company posted $3.04 earnings per share. Research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IT. Barclays decreased their price objective on Gartner from $600.00 to $510.00 and set an "overweight" rating for the company in a research report on Friday, April 4th. The Goldman Sachs Group reiterated a "buy" rating on shares of Gartner in a research report on Tuesday, February 4th. Wells Fargo & Company dropped their price objective on shares of Gartner from $488.00 to $401.00 and set an "underweight" rating on the stock in a research note on Wednesday. UBS Group reduced their target price on shares of Gartner from $565.00 to $500.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. Finally, Robert W. Baird dropped their price target on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Gartner has a consensus rating of "Hold" and a consensus price target of $518.00.

Insiders Place Their Bets

In related news, SVP John J. Rinello sold 90 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $530.51, for a total value 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. This represents a 2.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the firm's 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. The trade was a 42.45 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.

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.