Naples Money Management LLC Takes Position in Gartner, Inc. (NYSE:IT)

Naples Money Management LLC purchased a new stake in shares of Gartner, Inc. (NYSE:IT) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 1,000 shares of the information technology services provider’s stock, valued at approximately $451,000.

A number of other large investors have also recently added to or reduced their stakes in IT. Morgan Stanley boosted its stake in Gartner by 271.1% during the fourth quarter. Morgan Stanley now owns 2,151,011 shares of the information technology services provider’s stock worth $723,041,000 after buying an additional 1,571,413 shares during the period. Norges Bank acquired a new stake in Gartner in the 4th quarter valued at approximately $263,599,000. Principal Financial Group Inc. raised its position in Gartner by 30.3% in the third quarter. Principal Financial Group Inc. now owns 1,565,046 shares of the information technology services provider’s stock valued at $537,766,000 after purchasing an additional 364,128 shares during the period. Wellington Management Group LLP lifted its stake in Gartner by 20.3% during the first quarter. Wellington Management Group LLP now owns 2,029,738 shares of the information technology services provider’s stock worth $603,766,000 after purchasing an additional 342,228 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Gartner by 888.4% during the third quarter. American Century Companies Inc. now owns 300,106 shares of the information technology services provider’s stock worth $103,119,000 after buying an additional 269,744 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Stock Down 2.1 %

NYSE:IT traded down $9.23 during mid-day trading on Friday, hitting $440.38. The stock had a trading volume of 445,342 shares, compared to its average volume of 390,795. Gartner, Inc. has a twelve month low of $292.60 and a twelve month high of $486.54. The stock has a 50-day simple moving average of $465.07 and a two-hundred day simple moving average of $434.48. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.60. The company has a market capitalization of $34.34 billion, a PE ratio of 39.82, a PEG ratio of 4.10 and a beta of 1.29.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.21. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. Gartner had a net margin of 14.94% and a return on equity of 156.35%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the business earned $3.70 EPS. On average, equities research analysts anticipate that Gartner, Inc. will post 11.36 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on IT. UBS Group raised Gartner from a “neutral” rating to a “buy” rating and increased their target price for the stock from $484.00 to $550.00 in a research note on Thursday, April 11th. Morgan Stanley raised their price objective on shares of Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. BMO Capital Markets upped their target price on shares of Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a research note on Thursday, February 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Gartner in a research report on Tuesday. They issued a “hold” rating and a $507.00 price target for the company. Finally, StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $477.60.

Insider Buying and Selling at Gartner

In related news, EVP Yvonne Genovese sold 560 shares of Gartner stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $457.37, for a total transaction of $256,127.20. Following the sale, the executive vice president now directly owns 2,398 shares in the company, valued at approximately $1,096,773.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Yvonne Genovese sold 560 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $457.37, for a total transaction of $256,127.20. Following the transaction, the executive vice president now owns 2,398 shares in the company, valued at approximately $1,096,773.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the sale, the executive vice president now owns 12,269 shares of the company’s stock, valued at approximately $5,557,857. The disclosure for this sale can be found here. Insiders have sold a total of 22,952 shares of company stock worth $10,598,070 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.

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.