Gartner Inc (NYSE:IT) Position Increased by Spence Asset Management

Spence Asset Management increased its holdings in shares of Gartner Inc (NYSE:IT) by 2.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,079 shares of the information technology services provider’s stock after buying an additional 1,533 shares during the period. Gartner accounts for about 5.4% of Spence Asset Management’s investment portfolio, making the stock its 8th biggest holding. Spence Asset Management owned approximately 0.07% of Gartner worth $9,113,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of IT. NumerixS Investment Technologies Inc purchased a new stake in shares of Gartner during the fourth quarter valued at $176,000. National Pension Service boosted its holdings in Gartner by 4.7% during the 4th quarter. National Pension Service now owns 118,545 shares of the information technology services provider’s stock valued at $16,900,000 after acquiring an additional 5,314 shares during the period. Standard Life Aberdeen plc lifted its holdings in shares of Gartner by 13.3% in the 3rd quarter. Standard Life Aberdeen plc now owns 23,991 shares of the information technology services provider’s stock worth $3,802,000 after buying an additional 2,814 shares during the period. McCollum Christoferson Group LLC lifted its holdings in shares of Gartner by 2.3% in the 4th quarter. McCollum Christoferson Group LLC now owns 28,222 shares of the information technology services provider’s stock worth $3,608,000 after buying an additional 637 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of Gartner by 37.1% in the 3rd quarter. Nordea Investment Management AB now owns 4,574 shares of the information technology services provider’s stock worth $725,000 after buying an additional 1,237 shares during the period. 99.17% of the stock is owned by institutional investors and hedge funds.

IT stock traded down $1.16 during mid-day trading on Wednesday, reaching $157.60. 9,670 shares of the company’s stock were exchanged, compared to its average volume of 349,822. The company has a market capitalization of $14.24 billion, a P/E ratio of 41.58, a P/E/G ratio of 2.84 and a beta of 1.32. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 2.49. Gartner Inc has a 12-month low of $116.28 and a 12-month high of $161.24.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, February 5th. The information technology services provider reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Gartner had a return on equity of 37.74% and a net margin of 3.08%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.17 EPS. On average, research analysts predict that Gartner Inc will post 3.97 earnings per share for the current fiscal year.

Several equities research analysts have weighed in on the company. Zacks Investment Research cut Gartner from a “hold” rating to a “sell” rating in a report on Monday. Robert W. Baird reaffirmed a “buy” rating and set a $156.00 target price on shares of Gartner in a research report on Wednesday, February 6th. Bank of America reaffirmed a “buy” rating and set a $150.00 target price on shares of Gartner in a research report on Wednesday, February 6th. Cantor Fitzgerald lowered Gartner from an “overweight” rating to a “neutral” rating in a report on Wednesday, February 6th. Finally, BMO Capital Markets lowered Gartner from an “outperform” rating to a “market perform” rating and set a $139.30 price objective on the stock. in a report on Wednesday, February 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $143.29.

In other Gartner news, EVP Alwyn Dawkins sold 1,909 shares of the business’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $142.01, for a total value of $271,097.09. Following the completion of the transaction, the executive vice president now directly owns 35,822 shares in the company, valued at approximately $5,087,082.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eugene A. Hall sold 90,935 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $143.22, for a total value of $13,023,710.70. Following the completion of the transaction, the chief executive officer now owns 1,174,006 shares of the company’s stock, valued at $168,141,139.32. The disclosure for this sale can be found here. Insiders have sold a total of 113,234 shares of company stock worth $16,211,414 in the last three months. Corporate insiders own 4.00% of the company’s stock.

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About Gartner

Gartner, Inc operates as a research and advisory company. It operates through three segments: Research, Conferences, and Consulting. The Research segment offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through research and other reports, briefings, proprietary tools, access to analysts, peer networking services, and membership programs that enable clients to make better decisions; and practice and talent management research insights in various business functions, such as human resources, sales, legal, and finance.

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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