Gartner, Inc. (NYSE:IT) Shares Acquired by KBC Group NV

KBC Group NV boosted its holdings in Gartner, Inc. (NYSE:IT) by 6.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,186 shares of the information technology services provider’s stock after acquiring an additional 716 shares during the period. KBC Group NV’s holdings in Gartner were worth $6,175,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in IT. Transcend Capital Advisors LLC purchased a new stake in shares of Gartner in the second quarter valued at $512,000. Tidal Investments LLC lifted its holdings in Gartner by 24.4% in the 1st quarter. Tidal Investments LLC now owns 9,890 shares of the information technology services provider’s stock valued at $4,717,000 after purchasing an additional 1,940 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of Gartner during the 1st quarter worth about $1,049,000. Vident Advisory LLC grew its holdings in shares of Gartner by 543.2% during the first quarter. Vident Advisory LLC now owns 9,178 shares of the information technology services provider’s stock worth $4,375,000 after buying an additional 7,751 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of Gartner in the first quarter valued at approximately $30,735,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Gartner

In other Gartner news, EVP Akhil Jain sold 500 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $492.00, for a total value of $246,000.00. Following the completion of the transaction, the executive vice president now owns 4,339 shares in the company, valued at $2,134,788. This represents a 10.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eugene A. Hall sold 34,060 shares of Gartner stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the sale, the chief executive officer now owns 1,143,401 shares in the company, valued at $577,874,865.40. This represents a 2.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,172 shares of company stock valued at $38,023,255 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on IT shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Morgan Stanley raised their price objective on Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. BMO Capital Markets upped their target price on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Bank of America raised their price target on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Robert W. Baird lifted their price target on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $539.25.

Gartner Price Performance

IT stock opened at $522.86 on Monday. The stock has a 50-day moving average price of $518.32 and a two-hundred day moving average price of $478.34. The company has a market cap of $40.29 billion, a PE ratio of 38.56, a price-to-earnings-growth ratio of 3.27 and a beta of 1.32. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $559.00.

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

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.