Greenleaf Trust Buys 65 Shares of Gartner, Inc. (NYSE:IT)

Greenleaf Trust boosted its stake in shares of Gartner, Inc. (NYSE:IT) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,604 shares of the information technology services provider’s stock after purchasing an additional 65 shares during the period. Greenleaf Trust’s holdings in Gartner were worth $813,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IT. Vanguard Group Inc. raised its position in Gartner by 0.7% in the first quarter. Vanguard Group Inc. now owns 8,974,760 shares of the information technology services provider’s stock worth $4,277,999,000 after acquiring an additional 60,786 shares during the period. Principal Financial Group Inc. raised its position in Gartner by 22.0% in the second quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock worth $852,014,000 after acquiring an additional 341,911 shares during the period. Findlay Park Partners LLP raised its position in Gartner by 5.7% in the first quarter. Findlay Park Partners LLP now owns 678,121 shares of the information technology services provider’s stock worth $323,240,000 after acquiring an additional 36,400 shares during the period. Bessemer Group Inc. raised its position in Gartner by 1.3% in the first quarter. Bessemer Group Inc. now owns 609,945 shares of the information technology services provider’s stock worth $290,742,000 after acquiring an additional 7,852 shares during the period. Finally, Sustainable Growth Advisers LP bought a new position in Gartner in the second quarter worth approximately $266,541,000. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on IT. BMO Capital Markets increased their price target on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Wells Fargo & Company increased their price objective on shares of Gartner from $435.00 to $460.00 and gave the stock an “underweight” rating in a research note on Monday, October 14th. UBS Group increased their price objective on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Bank of America increased their price objective on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley increased their price objective on shares of Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Gartner has a consensus rating of “Hold” and a consensus target price of $532.86.

Gartner Stock Performance

IT opened at $517.95 on Friday. The stock has a market capitalization of $40.21 billion, a price-to-earnings ratio of 51.54, a PEG ratio of 3.23 and a beta of 1.32. The company has a fifty day moving average of $504.74 and a 200 day moving average of $469.64. Gartner, Inc. has a fifty-two week low of $323.61 and a fifty-two week high of $535.29. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.20. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. Gartner’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the company posted $2.85 earnings per share. As a group, sell-side analysts forecast that Gartner, Inc. will post 11.65 earnings per share for the current fiscal year.

Insider Activity at Gartner

In other Gartner news, EVP Claire Herkes sold 478 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $506.01, for a total transaction of $241,872.78. Following the completion of the transaction, the executive vice president now owns 1,905 shares in the company, valued at $963,949.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Gartner news, EVP Claire Herkes sold 478 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $506.01, for a total transaction of $241,872.78. Following the completion of the transaction, the executive vice president now owns 1,905 shares in the company, valued at $963,949.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Eugene A. Hall sold 12,082 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $504.84, for a total transaction of $6,099,476.88. Following the transaction, the chief executive officer now owns 1,143,389 shares of the company’s stock, valued at $577,228,502.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,164 shares of company stock valued at $32,601,014. Corporate insiders own 3.60% of the company’s stock.

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.