Quantbot Technologies LP Invests $6.76 Million in Gartner, Inc. (NYSE:IT)

Quantbot Technologies LP acquired a new stake in shares of Gartner, Inc. (NYSE:IT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,945 shares of the information technology services provider’s stock, valued at approximately $6,756,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its position in Gartner by 1.1% in the 3rd quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock worth $1,650,697,000 after purchasing an additional 36,258 shares during the last quarter. Geode Capital Management LLC increased its holdings in Gartner by 1.9% in the third quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider’s stock worth $1,020,378,000 after buying an additional 36,698 shares during the last quarter. Principal Financial Group Inc. raised its position in Gartner by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider’s stock valued at $975,141,000 after acquiring an additional 11,657 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Gartner by 7.3% in the third quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock valued at $525,272,000 after acquiring an additional 70,236 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Gartner by 3.3% in the third quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider’s stock worth $422,678,000 after acquiring an additional 25,315 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Gartner

In other news, Director Eileen Serra sold 1,200 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the transaction, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. This represents a 42.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now owns 3,259 shares in the company, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IT. Morgan Stanley cut their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Robert W. Baird reduced their price target on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research report on Friday. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Wells Fargo & Company cut their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Finally, StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $546.63.

Gartner Stock Up 2.7 %

Shares of IT stock opened at $430.03 on Friday. The stock has a 50 day moving average of $502.37 and a 200-day moving average of $507.66. The firm has a market cap of $33.03 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. Gartner, Inc. has a 12 month low of $409.50 and a 12 month high of $584.01.

Gartner (NYSE:IT) last released its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating the consensus estimate of $3.22 by $2.23. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.04 EPS. On average, equities analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

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.