Federated Hermes Inc. Increases Stake in Gartner, Inc. (NYSE:IT)

Federated Hermes Inc. increased its holdings in Gartner, Inc. (NYSE:IT) by 165.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 170,709 shares of the information technology services provider’s stock after acquiring an additional 106,514 shares during the quarter. Federated Hermes Inc.’s holdings in Gartner were worth $82,703,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Principal Financial Group Inc. increased its holdings in shares of Gartner by 5.5% in the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after buying an additional 103,814 shares during the period. Verition Fund Management LLC increased its stake in Gartner by 2.6% in the 3rd quarter. Verition Fund Management LLC now owns 2,370 shares of the information technology services provider’s stock worth $1,201,000 after purchasing an additional 60 shares during the period. HighTower Advisors LLC lifted its position in Gartner by 4.6% in the third quarter. HighTower Advisors LLC now owns 27,508 shares of the information technology services provider’s stock valued at $14,168,000 after purchasing an additional 1,212 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Gartner by 3.5% during the third quarter. Janus Henderson Group PLC now owns 10,630 shares of the information technology services provider’s stock valued at $5,388,000 after purchasing an additional 360 shares during the period. Finally, IHT Wealth Management LLC purchased a new stake in shares of Gartner during the third quarter valued at approximately $218,000. 91.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IT. Robert W. Baird lowered their price target on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a report on Friday, March 21st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Barclays cut their target price on Gartner from $600.00 to $510.00 and set an “overweight” rating on the stock in a research note on Friday. Morgan Stanley dropped their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Finally, UBS Group reduced their target price on Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $525.38.

Insider Buying and Selling at Gartner

In other news, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction dated Monday, February 24th. The stock was 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 of the company’s stock, valued at $796,855.79. The trade was a 42.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John J. Rinello sold 90 shares of the 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 directly owns 3,259 shares in the company, valued at $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. Insiders own 3.60% of the company’s stock.

Gartner Trading Down 5.4 %

IT opened at $383.12 on Monday. The stock has a market cap of $29.43 billion, a PE ratio of 23.90, a PEG ratio of 3.30 and a beta of 1.26. The business has a 50 day moving average of $482.71 and a 200-day moving average of $502.12. Gartner, Inc. has a 52 week low of $382.23 and a 52 week high of $584.01. 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 (NYSE:IT) last announced its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. The firm had revenue of $1.72 billion for 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 company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.04 EPS. Equities research analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current fiscal 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.