Quantbot Technologies LP Invests $6.76 Million in Gartner, Inc. (NYSE:IT)

Quantbot Technologies LP purchased a new position in shares of Gartner, Inc. (NYSE:IT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 13,945 shares of the information technology services provider's stock, valued at approximately $6,756,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. State Street Corp raised its holdings in 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 during the last quarter. Geode Capital Management LLC grew its holdings in Gartner by 1.9% during the 3rd 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 buying an additional 36,698 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Gartner by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider's stock worth $975,141,000 after purchasing an additional 11,657 shares in the last quarter. JPMorgan Chase & Co. grew its position in Gartner by 7.3% during the third quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider's stock worth $525,272,000 after buying an additional 70,236 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Gartner by 3.3% during the third 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 own 91.51% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms have issued reports on IT. Barclays upgraded shares of Gartner from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $525.00 to $600.00 in a research report on Friday, January 10th. UBS Group decreased their price objective on Gartner from $565.00 to $500.00 and set a "buy" rating for the company in a report on Tuesday. StockNews.com lowered shares of Gartner from a "buy" rating to a "hold" rating in a research note on Friday. Wells Fargo & Company cut their target price on shares of Gartner from $470.00 to $460.00 and set an "underweight" rating for the company in a research report on Friday, January 10th. Finally, Morgan Stanley dropped their price objective on shares of Gartner from $564.00 to $555.00 and set an "equal weight" rating on the stock in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Gartner presently has an average rating of "Hold" and an average price target of $536.63.

Gartner Price Performance

Shares of NYSE:IT traded down $8.33 during trading on Tuesday, reaching $421.46. 1,383,646 shares of the company's stock traded hands, compared to its average volume of 398,692. The company has a 50-day simple moving average of $499.54 and a 200-day simple moving average of $507.17. Gartner, Inc. has a fifty-two week low of $409.50 and a fifty-two week high of $584.01. The firm has a market cap of $32.38 billion, a PE ratio of 26.29, a P/E/G ratio of 3.30 and a beta of 1.29. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

Gartner (NYSE:IT - Get Free Report) last released 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 for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.04 earnings per share. As a group, analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insider Activity at Gartner

In other news, SVP John J. Rinello sold 90 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of the sale, the senior vice president now directly owns 3,259 shares of the company's stock, valued at approximately $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction on Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the transaction, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is owned by corporate insiders.

About Gartner

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.