Resona Asset Management Co. Ltd. Takes Position in Gartner, Inc. (NYSE:IT)

Resona Asset Management Co. Ltd. acquired a new stake in Gartner, Inc. (NYSE:IT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 117,590 shares of the information technology services provider's stock, valued at approximately $57,037,000. Resona Asset Management Co. Ltd. owned 0.15% of Gartner at the end of the most recent reporting period.

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

Gartner Stock Performance

NYSE IT traded down $19.80 on Thursday, hitting $386.34. 231,231 shares of the company's stock traded hands, compared to its average volume of 446,188. The firm's 50-day moving average price is $467.43 and its two-hundred day moving average price is $497.94. The firm has a market capitalization of $29.68 billion, a PE ratio of 23.99, a P/E/G ratio of 3.30 and a beta of 1.26. 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 1-year low of $366.05 and a 1-year high of $584.01.

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Gartner (NYSE:IT - Get Free Report) last posted 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 the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm posted $3.04 earnings per share. As a group, analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IT. Robert W. Baird lowered their price target on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Morgan Stanley cut their price target 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. StockNews.com lowered Gartner from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Wells Fargo & Company dropped their target price on Gartner from $488.00 to $401.00 and set an "underweight" rating on the stock in a research note on Wednesday. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Gartner in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $518.00.

Insider Buying and Selling

In other Gartner news, SVP John J. Rinello sold 90 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 3,259 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the business's stock in a transaction that occurred 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 owns 1,627 shares of the company's stock, valued at $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.

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.