DSM Capital Partners LLC Takes Position in Gartner, Inc. (NYSE:IT)

DSM Capital Partners LLC purchased a new stake in Gartner, Inc. (NYSE:IT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 72 shares of the information technology services provider’s stock, valued at approximately $32,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Gartner during the fourth quarter worth approximately $388,781,000. American Century Companies Inc. grew its holdings 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 worth $103,119,000 after buying an additional 269,744 shares during the last quarter. Eagle Asset Management Inc. acquired a new position in Gartner in the 3rd quarter valued at about $83,588,000. Franklin Resources Inc. raised its stake in Gartner by 18.5% during the 4th quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock valued at $415,344,000 after acquiring an additional 143,556 shares during the last quarter. Finally, Artisan Partners Limited Partnership acquired a new stake in Gartner during the 3rd quarter worth approximately $48,614,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Morgan Stanley boosted their target price on Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. UBS Group cut their price objective on shares of Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research note on Saturday, May 18th. Robert W. Baird dropped their price target on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Finally, BMO Capital Markets reduced their price objective on shares of Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $474.50.

Insider Buying and Selling

In related news, Director James C. Smith sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $459.68, for a total value of $4,596,800.00. Following the sale, the director now directly owns 623,235 shares in the company, valued at approximately $286,488,664.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director James C. Smith sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $459.68, for a total transaction of $4,596,800.00. Following the completion of the transaction, the director now directly owns 623,235 shares of the company’s stock, valued at approximately $286,488,664.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Akhil Jain sold 250 shares of Gartner stock in a transaction that occurred 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 transaction, the executive vice president now owns 5,239 shares of the company’s stock, valued at $2,433,777.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,549 shares of company stock valued at $13,142,472. 3.60% of the stock is owned by insiders.

Gartner Price Performance

Shares of NYSE IT traded down $6.65 during midday trading on Friday, hitting $439.04. The company had a trading volume of 362,135 shares, compared to its average volume of 457,826. The firm has a market capitalization of $34.08 billion, a price-to-earnings ratio of 43.69, a price-to-earnings-growth ratio of 3.84 and a beta of 1.32. Gartner, Inc. has a twelve month low of $323.61 and a twelve month high of $486.54. The business has a 50-day simple moving average of $455.05 and a two-hundred day simple moving average of $450.79. 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 posted its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $2.88 EPS. Equities research analysts anticipate that Gartner, Inc. will post 11.55 earnings per share for the current year.

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.