Fred Alger Management Inc. raised its stake in shares of Gartner, Inc. (NYSE:IT) by 10.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,196 shares of the information technology services provider’s stock after purchasing an additional 3,542 shares during the quarter. Fred Alger Management Inc.’s holdings in Gartner were worth $4,718,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of IT. BlackRock Inc. increased its stake in Gartner by 5,309.2% during the 1st quarter. BlackRock Inc. now owns 8,174,829 shares of the information technology services provider’s stock valued at $882,800,000 after purchasing an additional 8,023,700 shares in the last quarter. Vanguard Group Inc. increased its stake in Gartner by 32.4% during the 2nd quarter. Vanguard Group Inc. now owns 8,680,305 shares of the information technology services provider’s stock valued at $1,072,104,000 after purchasing an additional 2,125,783 shares in the last quarter. Janus Capital Management LLC increased its stake in Gartner by 62.0% during the 1st quarter. Janus Capital Management LLC now owns 3,555,481 shares of the information technology services provider’s stock valued at $383,956,000 after purchasing an additional 1,360,165 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in Gartner by 54.3% during the 2nd quarter. Artisan Partners Limited Partnership now owns 1,846,952 shares of the information technology services provider’s stock valued at $228,117,000 after purchasing an additional 649,942 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in Gartner by 44.3% during the 2nd quarter. Alliancebernstein L.P. now owns 1,917,776 shares of the information technology services provider’s stock valued at $236,865,000 after purchasing an additional 588,574 shares in the last quarter. Institutional investors and hedge funds own 91.95% of the company’s stock.

In other Gartner news, Director Anne Sutherland Fuchs sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $117.02, for a total value of $585,100.00. Following the transaction, the director now directly owns 29,895 shares of the company’s stock, valued at approximately $3,498,312.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robin B. Kranich sold 7,487 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $120.08, for a total transaction of $899,038.96. Following the completion of the transaction, the senior vice president now directly owns 21,298 shares in the company, valued at $2,557,463.84. The disclosure for this sale can be found here. Insiders sold a total of 23,363 shares of company stock worth $2,775,387 over the last ninety days. Corporate insiders own 4.40% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This story was posted by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The legal version of this story can be read at https://www.watchlistnews.com/gartner-inc-it-holdings-lifted-by-fred-alger-management-inc/1615024.html.

Shares of Gartner, Inc. (NYSE IT) opened at 122.39 on Friday. The stock has a 50 day moving average of $122.16 and a 200 day moving average of $119.27. Gartner, Inc. has a 12-month low of $84.54 and a 12-month high of $130.02. The stock has a market capitalization of $11.09 billion, a P/E ratio of 251.31 and a beta of 1.07.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, August 8th. The information technology services provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.05. The business had revenue of $843.73 million for the quarter, compared to analysts’ expectations of $892.64 million. Gartner had a net margin of 1.50% and a return on equity of 103.10%. The company’s quarterly revenue was up 38.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 EPS. Equities research analysts anticipate that Gartner, Inc. will post $3.41 EPS for the current fiscal year.

A number of research analysts have issued reports on the stock. BidaskClub lowered shares of Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. BMO Capital Markets restated an “outperform” rating and set a $132.00 price target (down previously from $137.00) on shares of Gartner in a research note on Monday, August 14th. Zacks Investment Research lowered shares of Gartner from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Credit Suisse Group restated an “outperform” rating and set a $138.00 price target (up previously from $130.00) on shares of Gartner in a research note on Wednesday, August 9th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $105.00 price objective on shares of Gartner in a report on Thursday, August 31st. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Gartner currently has an average rating of “Buy” and an average target price of $126.56.

Gartner Company Profile

Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.

Want to see what other hedge funds are holding IT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gartner, Inc. (NYSE:IT).

Institutional Ownership by Quarter for Gartner (NYSE:IT)

Receive News & Ratings for Gartner Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gartner Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.