Picton Mahoney Asset Management Buys 1,594 Shares of Gartner, Inc. (NYSE:IT)

Picton Mahoney Asset Management lifted its stake in shares of Gartner, Inc. (NYSE:IT) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,472 shares of the information technology services provider’s stock after acquiring an additional 1,594 shares during the quarter. Picton Mahoney Asset Management’s holdings in Gartner were worth $16,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in Gartner by 30.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,565,046 shares of the information technology services provider’s stock worth $537,766,000 after acquiring an additional 364,128 shares during the period. American Century Companies Inc. grew its stake in 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 purchasing an additional 269,744 shares during the period. Eagle Asset Management Inc. bought a new stake in Gartner in the third quarter worth approximately $83,588,000. Allspring Global Investments Holdings LLC lifted its stake in Gartner by 384.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 201,553 shares of the information technology services provider’s stock valued at $69,257,000 after buying an additional 159,989 shares during the period. Finally, Artisan Partners Limited Partnership bought a new position in shares of Gartner during the 3rd quarter worth approximately $48,614,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Akhil Jain sold 250 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $464.55, for a total transaction of $116,137.50. Following the sale, the executive vice president now owns 5,239 shares of the company’s stock, valued at approximately $2,433,777.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Akhil Jain sold 250 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $464.55, for a total transaction of $116,137.50. Following the completion of the transaction, the executive vice president now directly owns 5,239 shares in the company, valued at $2,433,777.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Yvonne Genovese sold 560 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $457.37, for a total value of $256,127.20. Following the completion of the sale, the executive vice president now directly owns 2,398 shares in the company, valued at approximately $1,096,773.26. 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. Company insiders own 3.60% of the company’s stock.

Gartner Stock Performance

Shares of NYSE IT traded up $0.52 during trading on Tuesday, reaching $436.90. 314,850 shares of the stock traded hands, compared to its average volume of 408,805. The company has a 50-day moving average of $461.54 and a 200-day moving average of $442.74. Gartner, Inc. has a 52-week low of $300.94 and a 52-week high of $486.54. The stock has a market capitalization of $34.07 billion, a P/E ratio of 43.47, a price-to-earnings-growth ratio of 3.44 and a beta of 1.32. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.40. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the previous year, the firm posted $2.88 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Analysts forecast that Gartner, Inc. will post 11.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on IT shares. UBS Group decreased their target price on Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. Robert W. Baird cut their target price on Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. BMO Capital Markets decreased their price target on shares of Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a research note on Thursday, May 2nd. Finally, 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. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $474.50.

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.