Gartner, Inc. $IT Stock: Fulcrum Asset Management LLP Raises Stake

Fulcrum Asset Management LLP grew its holdings in Gartner, Inc. (NYSE:IT) by 5,888.4% during the third quarter, Holdings Channel.com reports. The firm owned 17,606 shares of the information technology services provider’s stock after acquiring an additional 17,312 shares during the period. Fulcrum Asset Management LLP’s holdings in Gartner were worth $3,272,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Bamco Inc. NY acquired a new stake in shares of Gartner in the second quarter valued at $985,243,000. BlackRock Inc. bought a new position in shares of Gartner in the second quarter valued at about $676,246,000. Bank of America Corp DE bought a new position in shares of Gartner in the second quarter valued at about $117,661,000. Madison Asset Management LLC bought a new position in shares of Gartner in the second quarter valued at about $74,481,000. Finally, Bank of New York Mellon Corp acquired a new position in Gartner during the 2nd quarter worth about $51,262,000. Institutional investors own 91.51% of the company’s stock.

Gartner Trading Up 0.3%

NYSE IT opened at $190.64 on Tuesday. The stock has a 50-day simple moving average of $197.12 and a 200 day simple moving average of $169.36. The company has a market capitalization of $12.04 billion, a PE ratio of 13.61, a P/E/G ratio of 0.75 and a beta of 0.92. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 46.98. Gartner, Inc. has a 12 month low of $124.25 and a 12 month high of $256.89.

Gartner (NYSE:IT) last released its earnings results on Tuesday, November 3rd. The information technology services provider reported $3.59 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.75. Gartner had a return on equity of 2,287.71% and a net margin of 14.81%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the firm posted $2.76 earnings per share. The company’s quarterly revenue was down 1.2% on a year-over-year basis. Research analysts forecast that Gartner, Inc. will post 15.02 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on IT. Truist Financial lowered shares of Gartner from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $235.00 to $210.00 in a report on Wednesday, November 4th. Royal Bank Of Canada restated a “sector perform” rating and issued a $198.00 price objective on shares of Gartner in a research report on Tuesday, October 20th. Morgan Stanley boosted their target price on shares of Gartner from $182.00 to $192.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 4th. The Goldman Sachs Group upped their target price on shares of Gartner from $181.00 to $207.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 4th. Finally, Wells Fargo & Company increased their price target on shares of Gartner from $150.00 to $175.00 and gave the company an “underweight” rating in a research note on Tuesday, October 20th. Seven research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Gartner presently has an average rating of “Reduce” and a consensus price target of $206.20.

Insider Transactions at Gartner

In other news, EVP Akhil Jain sold 700 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $201.73, for a total value of $141,211.00. Following the completion of the sale, the executive vice president directly owned 8,130 shares of the company’s stock, valued at $1,640,064.90. This represents a 7.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Robin Kranich sold 3,278 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $196.50, for a total transaction of $644,127.00. Following the completion of the sale, the executive vice president owned 20,358 shares in the company, valued at $4,000,347. This represents a 13.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.60% of the company’s stock.

Gartner Profile

Gartner, Inc is a global research and advisory company that provides business and technology leaders with insights to support decision-making. Its research covers areas such as information technology, digital transformation, cybersecurity, finance, human resources, and supply chain management.

The company offers research subscriptions, advisory services, consulting, and conferences. Its research includes tools and analysis such as Magic Quadrants and Hype Cycles, which help organizations assess markets, technologies, and potential vendors.

Founded in 1979 by Gideon Gartner, the company serves clients across a range of industries and geographies.