Signaturefd LLC Raises Position in Gartner, Inc. (NYSE:IT)

Posted by on Apr 15th, 2023

Signaturefd LLC grew its holdings in shares of Gartner, Inc. (NYSE:IT – Get Rating) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,149 shares of the information technology services provider’s stock after purchasing an additional 84 shares during the period. Signaturefd LLC’s holdings in Gartner were worth $386,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IT. US Bancorp DE lifted its holdings in shares of Gartner by 6.0% during the 1st quarter. US Bancorp DE now owns 2,563 shares of the information technology services provider’s stock valued at $762,000 after purchasing an additional 144 shares during the last quarter. Aviva PLC raised its stake in Gartner by 53.3% in the 1st quarter. Aviva PLC now owns 42,028 shares of the information technology services provider’s stock worth $12,502,000 after acquiring an additional 14,618 shares during the last quarter. Canada Pension Plan Investment Board raised its stake 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 worth $8,044,000 after acquiring an additional 2,347 shares during the last quarter. Allianz Asset Management GmbH raised its stake 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 worth $29,415,000 after acquiring an additional 19,892 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake 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 worth $2,736,085,000 after acquiring an additional 102,709 shares during the last quarter. Hedge funds and other institutional investors own 91.86% of the company’s stock.

Gartner Stock Performance

NYSE IT opened at $314.88 on Friday. The stock has a 50-day simple moving average of $326.52 and a two-hundred day simple moving average of $325.01. The firm has a market capitalization of $24.89 billion, a P/E ratio of 31.52, a PEG ratio of 5.19 and a beta of 1.28. Gartner, Inc. has a fifty-two week low of $221.39 and a fifty-two week high of $358.25. The company has a debt-to-equity ratio of 10.77, a quick ratio of 0.77 and a current ratio of 0.77.

Gartner (NYSE:IT – Get Rating) last released its quarterly earnings data on Tuesday, February 7th. The information technology services provider reported $3.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $1.13. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.45 billion. Gartner had a return on equity of 2,645.96% and a net margin of 14.75%. The company’s revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the business posted $2.99 EPS. On average, equities analysts forecast that Gartner, Inc. will post 9.49 earnings per share for the current year.

Insider Activity

In other news, EVP Valentin Sribar sold 348 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $322.61, for a total transaction of $112,268.28. Following the sale, the executive vice president now directly owns 12,189 shares in the company, valued at approximately $3,932,293.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Craig Safian sold 4,510 shares of the firm’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $341.53, for a total transaction of $1,540,300.30. Following the sale, the chief financial officer now directly owns 64,282 shares in the company, valued at approximately $21,954,231.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Valentin Sribar sold 348 shares of Gartner stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $322.61, for a total value of $112,268.28. Following the completion of the sale, the executive vice president now owns 12,189 shares in the company, valued at $3,932,293.29. The disclosure for this sale can be found here. Insiders have sold 43,031 shares of company stock worth $15,047,172 in the last ninety days. Company insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Morgan Stanley raised their target price on Gartner from $358.00 to $366.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 8th. StockNews.com assumed coverage on Gartner in a research note on Thursday, March 16th. They issued a “buy” rating for the company. Wells Fargo & Company raised their target price on Gartner from $370.00 to $387.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 8th. Finally, BMO Capital Markets raised their target price on Gartner from $356.00 to $357.00 and gave the stock a “market perform” rating in a research note on Thursday, February 9th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $361.71.

Gartner Company Profile

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Gartner, Inc is a research and advisory company, which equips business leaders with insights, advice, and tools that help build organizations. It operates through the following segments: Research, Consulting, and Conferences. The Research segment provides executives with objective insights and advice through reports, briefings, proprietary tools, access to the firm’s research experts, peer networking services, and membership programs.

Further Reading

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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