National Pension Service Raises Stake in Gartner, Inc. $IT

National Pension Service grew its position in Gartner, Inc. (NYSE:IT) by 5.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,861 shares of the information technology services provider’s stock after purchasing an additional 6,575 shares during the quarter. National Pension Service’s holdings in Gartner were worth $32,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Gartner by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 9,572,283 shares of the information technology services provider’s stock worth $3,869,308,000 after buying an additional 138,834 shares during the period. State Street Corp lifted its position in shares of Gartner by 2.9% in the second quarter. State Street Corp now owns 3,413,397 shares of the information technology services provider’s stock valued at $1,379,763,000 after acquiring an additional 96,172 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Gartner by 4.1% in the second quarter. Geode Capital Management LLC now owns 2,258,233 shares of the information technology services provider’s stock worth $910,481,000 after acquiring an additional 89,877 shares during the period. Sustainable Growth Advisers LP boosted its stake in shares of Gartner by 71.7% in the second quarter. Sustainable Growth Advisers LP now owns 1,161,513 shares of the information technology services provider’s stock worth $469,507,000 after acquiring an additional 485,188 shares during the period. Finally, Norges Bank purchased a new stake in shares of Gartner during the second quarter worth about $394,133,000. 91.51% of the stock is currently owned by institutional investors.

Gartner Price Performance

Gartner stock opened at $202.33 on Tuesday. Gartner, Inc. has a 52-week low of $201.78 and a 52-week high of $584.01. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 4.42. The firm’s fifty day moving average is $237.22 and its 200 day moving average is $250.35. The company has a market cap of $14.58 billion, a price-to-earnings ratio of 17.75 and a beta of 1.06.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, November 4th. The information technology services provider reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.35. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.52 billion. Gartner had a net margin of 13.71% and a return on equity of 92.12%. Sell-side analysts forecast that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Claire Herkes sold 367 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $231.56, for a total value of $84,982.52. Following the completion of the sale, the executive vice president directly owned 4,074 shares of the company’s stock, valued at $943,375.44. This trade represents a 8.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen G. Pagliuca bought 43,300 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were bought at an average cost of $229.57 per share, for a total transaction of $9,940,381.00. Following the transaction, the director owned 111,613 shares in the company, valued at approximately $25,622,996.41. The trade was a 63.38% increase in their position. The SEC filing for this purchase provides additional information. 3.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on IT shares. Morgan Stanley dropped their price target on Gartner from $281.00 to $275.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. BMO Capital Markets lowered their target price on shares of Gartner from $272.00 to $254.00 and set a “market perform” rating on the stock in a report on Wednesday, November 5th. Wells Fargo & Company cut their target price on shares of Gartner from $231.00 to $218.00 and set an “underweight” rating for the company in a research note on Wednesday, November 5th. Truist Financial set a $300.00 price target on shares of Gartner in a research note on Wednesday, November 26th. Finally, The Goldman Sachs Group dropped their price objective on shares of Gartner from $457.00 to $390.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $309.67.

Gartner Profile

Gartner, Inc is a global research and advisory firm that provides insights, advice and tools for leaders in IT, finance, HR, customer service and other business functions. Founded in 1979 and headquartered in Stamford, Connecticut, Gartner specializes in helping organizations make informed decisions about technology, operations and strategy through a combination of published research, advisory services, consulting, executive programs and events.

The company’s offerings include proprietary research reports, market forecasts, and analytical frameworks that are widely used by technology buyers and vendors.