PNC Financial Services Group Inc. Buys 51 Shares of Gartner, Inc. (NYSE:IT)

PNC Financial Services Group Inc. lifted its stake in shares of Gartner, Inc. (NYSE:IT) by 0.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 39,207 shares of the information technology services provider’s stock after buying an additional 51 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Gartner were worth $19,868,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Eastern Bank acquired a new stake in Gartner in the 3rd quarter worth about $26,000. Crewe Advisors LLC raised its position in shares of Gartner by 223.3% in the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after buying an additional 67 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Gartner during the 3rd quarter worth approximately $44,000. Fortitude Family Office LLC increased its stake in Gartner by 23.8% in the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after acquiring an additional 20 shares during the last quarter. Finally, Asset Dedication LLC raised its position in Gartner by 46.5% during the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock valued at $75,000 after purchasing an additional 47 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

IT has been the subject of several research reports. UBS Group increased their price objective on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company increased their price target on Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. Robert W. Baird boosted their price objective on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Barclays boosted their price target on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $539.25.

Gartner Stock Performance

Shares of IT opened at $519.54 on Friday. Gartner, Inc. has a one year low of $411.15 and a one year high of $559.00. The company has a market cap of $40.07 billion, a PE ratio of 38.31, a P/E/G ratio of 3.23 and a beta of 1.32. The stock has a 50-day moving average of $519.61 and a 200-day moving average of $479.95. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. Gartner’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.56 EPS. On average, equities research analysts predict that Gartner, Inc. will post 11.89 EPS for the current fiscal year.

Insider Activity at Gartner

In other Gartner news, Director James C. Smith sold 2,450 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $554.68, for a total value of $1,358,966.00. Following the transaction, the director now owns 529,844 shares of the company’s stock, valued at approximately $293,893,869.92. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Yvonne Genovese sold 443 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $483.62, for a total value of $214,243.66. Following the sale, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at approximately $947,411.58. This represents a 18.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 73,172 shares of company stock valued at $38,023,255. 3.60% of the stock is owned by insiders.

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.