Legal & General Group Plc Grows Position in Gartner, Inc. (IT)

Legal & General Group Plc increased its holdings in Gartner, Inc. (NYSE:IT) by 159.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 420,700 shares of the information technology services provider’s stock after purchasing an additional 258,439 shares during the quarter. Legal & General Group Plc owned 0.46% of Gartner worth $52,337,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC raised its holdings in shares of Gartner by 1,426.9% during the second quarter. Janus Henderson Group PLC now owns 4,278,595 shares of the information technology services provider’s stock valued at $528,449,000 after acquiring an additional 3,998,373 shares during the period. Vanguard Group Inc. raised its holdings in shares of Gartner by 32.4% during the second quarter. Vanguard Group Inc. now owns 8,680,305 shares of the information technology services provider’s stock valued at $1,072,104,000 after acquiring an additional 2,125,783 shares during the period. State Street Corp raised its holdings in shares of Gartner by 31.9% during the second quarter. State Street Corp now owns 3,585,747 shares of the information technology services provider’s stock valued at $442,867,000 after acquiring an additional 867,040 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Gartner by 525.5% during the third quarter. Principal Financial Group Inc. now owns 909,985 shares of the information technology services provider’s stock valued at $113,211,000 after acquiring an additional 764,504 shares during the period. Finally, Artisan Partners Limited Partnership grew its position in Gartner by 54.3% during the second quarter. Artisan Partners Limited Partnership now owns 1,846,952 shares of the information technology services provider’s stock valued at $228,117,000 after purchasing an additional 649,942 shares in the last quarter. Institutional investors and hedge funds own 96.43% of the company’s stock.

Gartner, Inc. (NYSE:IT) traded up $0.27 during midday trading on Wednesday, hitting $121.52. 556,100 shares of the company traded hands, compared to its average volume of 683,111. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 3.38. The company has a market cap of $10,991.43, a P/E ratio of 39.11, a P/E/G ratio of 2.21 and a beta of 1.06. Gartner, Inc. has a fifty-two week low of $90.37 and a fifty-two week high of $130.02.

Gartner (NYSE:IT) last posted its quarterly earnings data on Thursday, November 2nd. The information technology services provider reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.13. The business had revenue of $828.09 million during the quarter, compared to the consensus estimate of $826.09 million. Gartner had a negative net margin of 1.25% and a positive return on equity of 57.60%. Gartner’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.58 EPS. sell-side analysts anticipate that Gartner, Inc. will post 3.43 earnings per share for the current fiscal year.

A number of brokerages recently commented on IT. Cantor Fitzgerald reaffirmed a “buy” rating and set a $139.00 price objective on shares of Gartner in a research report on Thursday, November 2nd. Morgan Stanley boosted their price objective on shares of Gartner from $118.00 to $120.00 and gave the company an “equal weight” rating in a research report on Monday, October 23rd. Zacks Investment Research raised shares of Gartner from a “hold” rating to a “buy” rating and set a $139.00 price objective on the stock in a research report on Monday, October 16th. BMO Capital Markets reaffirmed a “buy” rating and set a $137.00 price objective on shares of Gartner in a research report on Friday, October 13th. Finally, BidaskClub downgraded shares of Gartner from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Gartner presently has a consensus rating of “Buy” and an average price target of $132.60.

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About Gartner

Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.

Institutional Ownership by Quarter for Gartner (NYSE:IT)

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