Blueshift Asset Management LLC Makes New $972,000 Investment in Gartner, Inc. (NYSE:IT)

Blueshift Asset Management LLC acquired a new stake in Gartner, Inc. (NYSE:IT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,919 shares of the information technology services provider’s stock, valued at approximately $972,000.

A number of other hedge funds have also recently modified their holdings of IT. Baron Wealth Management LLC boosted its stake in shares of Gartner by 4.1% during the 3rd quarter. Baron Wealth Management LLC now owns 481 shares of the information technology services provider’s stock worth $244,000 after acquiring an additional 19 shares in the last quarter. Fortitude Family Office LLC boosted its position in Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after purchasing an additional 20 shares in the last quarter. Moors & Cabot Inc. boosted its position in Gartner by 3.0% during the second quarter. Moors & Cabot Inc. now owns 763 shares of the information technology services provider’s stock worth $343,000 after purchasing an additional 22 shares in the last quarter. Mather Group LLC. increased its position in shares of Gartner by 2.2% in the second quarter. Mather Group LLC. now owns 1,079 shares of the information technology services provider’s stock valued at $514,000 after buying an additional 23 shares in the last quarter. Finally, Wallace Advisory Group LLC raised its stake in shares of Gartner by 2.4% during the 2nd quarter. Wallace Advisory Group LLC now owns 980 shares of the information technology services provider’s stock worth $440,000 after buying an additional 23 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

Gartner stock opened at $523.13 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The stock has a market cap of $40.35 billion, a P/E ratio of 38.58, a PEG ratio of 3.24 and a beta of 1.32. The company has a 50-day moving average price of $520.24 and a 200 day moving average price of $482.02. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $559.00.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.05. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.56 earnings per share. Sell-side analysts anticipate that Gartner, Inc. will post 11.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Gartner

In other Gartner news, Director James C. Smith sold 2,450 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $554.68, for a total value of $1,358,966.00. Following the sale, the director now owns 529,844 shares of the company’s stock, valued at $293,893,869.92. This trade represents a 0.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott Hensel sold 5,580 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $490.00, for a total transaction of $2,734,200.00. Following the sale, the executive vice president now owns 19,724 shares in the company, valued at $9,664,760. The trade was a 22.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,729 shares of company stock valued at $37,809,011 over the last quarter. 3.60% of the stock is owned by company insiders.

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.