Pine Valley Investments Ltd Liability Co Buys New Shares in Gartner, Inc. (NYSE:IT)

Pine Valley Investments Ltd Liability Co purchased a new position in shares of Gartner, Inc. (NYSE:ITFree Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,640 shares of the information technology services provider’s stock, valued at approximately $2,625,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IT. US Bancorp DE lifted its position in Gartner by 6.0% in the 1st quarter. US Bancorp DE now owns 2,563 shares of the information technology services provider’s stock valued at $762,000 after acquiring an additional 144 shares in the last quarter. Aviva PLC lifted its position in Gartner by 53.3% in the 1st quarter. Aviva PLC now owns 42,028 shares of the information technology services provider’s stock valued at $12,502,000 after acquiring an additional 14,618 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Gartner by 9.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 27,043 shares of the information technology services provider’s stock valued at $8,044,000 after acquiring an additional 2,347 shares in the last quarter. Allianz Asset Management GmbH lifted its position in Gartner by 25.2% in the 1st quarter. Allianz Asset Management GmbH now owns 98,889 shares of the information technology services provider’s stock valued at $29,415,000 after acquiring an additional 19,892 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Gartner by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 9,198,161 shares of the information technology services provider’s stock valued at $2,736,085,000 after acquiring an additional 102,709 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

Insider Buying and Selling at Gartner

In other Gartner news, EVP Robin B. Kranich sold 1,444 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $455.29, for a total value of $657,438.76. Following the transaction, the executive vice president now directly owns 13,244 shares of the company’s stock, valued at approximately $6,029,860.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Gartner news, EVP Robin B. Kranich sold 1,444 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $455.29, for a total value of $657,438.76. Following the transaction, the executive vice president now directly owns 13,244 shares of the company’s stock, valued at approximately $6,029,860.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Craig Safian sold 4,387 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $467.37, for a total transaction of $2,050,352.19. Following the transaction, the chief financial officer now directly owns 64,307 shares in the company, valued at $30,055,162.59. The disclosure for this sale can be found here. Insiders have sold a total of 30,770 shares of company stock valued at $12,992,112 in the last three months. 3.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on IT. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research report on Friday. Morgan Stanley boosted their price target on shares of Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Wells Fargo & Company boosted their price target on shares of Gartner from $380.00 to $435.00 and gave the stock an “overweight” rating in a research report on Friday, December 15th. Finally, UBS Group boosted their price objective on shares of Gartner from $412.00 to $490.00 and gave the stock a “neutral” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $429.25.

Get Our Latest Stock Report on IT

Gartner Stock Performance

Shares of Gartner stock traded down $9.07 during trading on Tuesday, hitting $460.72. 756,267 shares of the stock were exchanged, compared to its average volume of 404,393. The stock has a market capitalization of $35.91 billion, a price-to-earnings ratio of 39.56, a price-to-earnings-growth ratio of 3.71 and a beta of 1.30. The company has a fifty day moving average price of $449.82 and a 200-day moving average price of $390.86. Gartner, Inc. has a 1-year low of $292.60 and a 1-year high of $471.76. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 4.32.

Gartner (NYSE:ITGet Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.21. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. Gartner had a net margin of 15.97% and a return on equity of 206.71%. Gartner’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.70 EPS. As a group, equities analysts predict that Gartner, Inc. will post 11.07 EPS for the current fiscal year.

Gartner declared that its Board of Directors has approved a stock buyback program on Friday, November 3rd that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Gartner Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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