Court Place Advisors LLC Takes $234,000 Position in Gartner, Inc. (NYSE:IT)

Court Place Advisors LLC acquired a new position in shares of Gartner, Inc. (NYSE:IT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 519 shares of the information technology services provider’s stock, valued at approximately $234,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Gartner by 1.1% during 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 purchasing an additional 102,709 shares during the period. BlackRock Inc. increased its holdings in shares of Gartner by 2.6% during the first quarter. BlackRock Inc. now owns 6,394,140 shares of the information technology services provider’s stock worth $2,083,019,000 after buying an additional 165,046 shares in the last quarter. State Street Corp increased its holdings in shares of Gartner by 2.3% during the first quarter. State Street Corp now owns 3,072,139 shares of the information technology services provider’s stock worth $1,000,811,000 after buying an additional 69,116 shares in the last quarter. Morgan Stanley increased its holdings in shares of Gartner by 4.6% in the third quarter. Morgan Stanley now owns 2,157,075 shares of the information technology services provider’s stock valued at $741,193,000 after purchasing an additional 95,040 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Gartner by 20.3% during the first quarter. Wellington Management Group LLP now owns 2,029,738 shares of the information technology services provider’s stock worth $603,766,000 after purchasing an additional 342,228 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Trading Down 1.9 %

NYSE:IT traded down $8.72 during midday trading on Wednesday, reaching $449.41. 401,446 shares of the stock traded hands, compared to its average volume of 389,576. The company has a debt-to-equity ratio of 3.60, a quick ratio of 0.91 and a current ratio of 0.91. Gartner, Inc. has a 12 month low of $292.60 and a 12 month high of $486.54. The stock has a market capitalization of $35.04 billion, a P/E ratio of 40.63, a PEG ratio of 4.23 and a beta of 1.29. The company has a fifty day moving average of $465.66 and a 200 day moving average of $433.71.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $3.04 EPS for the quarter, beating the consensus estimate of $2.83 by $0.21. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. Gartner had a net margin of 14.94% and a return on equity of 156.35%. Gartner’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.70 EPS. On average, research analysts predict that Gartner, Inc. will post 11.36 EPS for the current year.

Analysts Set New Price Targets

IT has been the topic of several recent research reports. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Gartner in a report on Tuesday. They issued a “hold” rating and a $507.00 price objective for the company. Morgan Stanley increased 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, February 6th. BMO Capital Markets increased their price target on shares of Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. Finally, UBS Group upgraded shares of Gartner from a “neutral” rating to a “buy” rating and raised their target price for the company from $484.00 to $550.00 in a research report on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $477.60.

Insider Activity at Gartner

In related news, Director James C. Smith sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $459.68, for a total value of $4,596,800.00. Following the sale, the director now owns 623,235 shares in the company, valued at $286,488,664.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Gartner news, EVP Akhil Jain sold 250 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $464.55, for a total value of $116,137.50. Following the completion of the sale, the executive vice president now directly owns 5,239 shares of the company’s stock, valued at approximately $2,433,777.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James C. Smith sold 10,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $459.68, for a total value of $4,596,800.00. Following the transaction, the director now owns 623,235 shares of the company’s stock, valued at $286,488,664.80. The disclosure for this sale can be found here. Insiders sold 22,952 shares of company stock worth $10,598,070 over the last three months. 3.90% of the stock is owned by corporate insiders.

Gartner Company 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.