Wellington Management Group LLP Acquires 198,274 Shares of Gartner, Inc. (NYSE:IT)

Wellington Management Group LLP grew its holdings in shares of Gartner, Inc. (NYSE:IT) by 12.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,852,820 shares of the information technology services provider’s stock after acquiring an additional 198,274 shares during the quarter. Wellington Management Group LLP’s holdings in Gartner were worth $835,826,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IT. Norges Bank purchased a new stake in Gartner in the fourth quarter worth about $388,781,000. First Trust Advisors LP lifted its stake in shares of Gartner by 830.4% in the 4th quarter. First Trust Advisors LP now owns 514,230 shares of the information technology services provider’s stock valued at $231,974,000 after purchasing an additional 458,963 shares during the period. American Century Companies Inc. boosted its position in shares of Gartner by 888.4% during the third quarter. American Century Companies Inc. now owns 300,106 shares of the information technology services provider’s stock valued at $103,119,000 after purchasing an additional 269,744 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Gartner during the third quarter valued at approximately $83,588,000. Finally, Franklin Resources Inc. grew its stake in Gartner by 18.5% in the fourth quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock worth $415,344,000 after purchasing an additional 143,556 shares during the period. Institutional investors own 91.51% of the company’s stock.

Insider Transactions at Gartner

In other Gartner news, Director James C. Smith sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $439.29, for a total transaction of $4,392,900.00. Following the transaction, the director now owns 599,074 shares in the company, valued at approximately $263,167,217.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Gartner news, EVP Yvonne Genovese sold 439 shares of Gartner stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $456.13, for a total value of $200,241.07. Following the completion of the sale, the executive vice president now owns 1,959 shares of the company’s stock, valued at approximately $893,558.67. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James C. Smith sold 10,000 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $439.29, for a total value of $4,392,900.00. Following the transaction, the director now directly owns 599,074 shares in the company, valued at $263,167,217.46. The disclosure for this sale can be found here. Insiders sold 22,544 shares of company stock worth $10,079,813 over the last quarter. 3.60% of the stock is currently owned by insiders.

Gartner Stock Down 0.1 %

Gartner stock traded down $0.46 during trading hours on Friday, hitting $432.21. The stock had a trading volume of 626,347 shares, compared to its average volume of 404,395. The stock’s 50-day moving average price is $441.63 and its 200-day moving average price is $452.05. The stock has a market capitalization of $33.55 billion, a P/E ratio of 43.01, a price-to-earnings-growth ratio of 3.78 and a beta of 1.32. Gartner, Inc. has a 12-month low of $323.61 and a 12-month high of $486.54. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.42.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.40. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.47 billion. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.88 earnings per share. Equities research analysts anticipate that Gartner, Inc. will post 11.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on IT shares. Deutsche Bank Aktiengesellschaft began coverage on Gartner in a research report on Tuesday, April 16th. They set a “hold” rating and a $507.00 price objective for the company. BMO Capital Markets dropped their price objective on shares of Gartner from $450.00 to $432.00 and set a “market perform” rating on the stock in a research note on Thursday, May 2nd. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a report on Thursday. UBS Group lowered their target price on shares of Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, Robert W. Baird cut their price target on Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $474.50.

Gartner 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.