90,000 Shares in Gartner, Inc. (NYSE:IT) Acquired by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC purchased a new stake in shares of Gartner, Inc. (NYSE:ITGet Rating) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 90,000 shares of the information technology services provider’s stock, valued at approximately $26,771,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cibc World Market Inc. lifted its position in Gartner by 1.8% during the first quarter. Cibc World Market Inc. now owns 41,621 shares of the information technology services provider’s stock valued at $12,381,000 after buying an additional 751 shares in the last quarter. APG Asset Management N.V. lifted its position in Gartner by 26.7% during the first quarter. APG Asset Management N.V. now owns 25,151 shares of the information technology services provider’s stock valued at $6,724,000 after buying an additional 5,300 shares in the last quarter. Oribel Capital Management LP lifted its position in Gartner by 182.3% during the first quarter. Oribel Capital Management LP now owns 35,000 shares of the information technology services provider’s stock valued at $10,411,000 after buying an additional 22,600 shares in the last quarter. Fure Financial Corp acquired a new position in Gartner during the first quarter valued at approximately $327,000. Finally, BlackRock Inc. lifted its position in Gartner by 2.8% during the first quarter. BlackRock Inc. now owns 6,446,779 shares of the information technology services provider’s stock valued at $1,917,660,000 after buying an additional 173,532 shares in the last quarter. 92.20% of the stock is owned by institutional investors and hedge funds.

Gartner Stock Up 0.6 %

Shares of NYSE:IT opened at $298.56 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 20.79. The company has a fifty day simple moving average of $276.55 and a 200 day simple moving average of $273.68. The firm has a market cap of $23.61 billion, a PE ratio of 33.66, a price-to-earnings-growth ratio of 2.88 and a beta of 1.40. Gartner, Inc. has a 12-month low of $221.39 and a 12-month high of $368.99.

Gartner (NYSE:ITGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The information technology services provider reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.70. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.32 billion. Gartner had a net margin of 14.42% and a return on equity of 497.67%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.24 earnings per share. On average, equities research analysts anticipate that Gartner, Inc. will post 9.08 EPS for the current fiscal year.

Insider Buying and Selling at Gartner

In other Gartner news, CFO Craig Safian sold 5,577 shares of the business’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $303.28, for a total transaction of $1,691,392.56. Following the completion of the sale, the chief financial officer now owns 61,986 shares in the company, valued at $18,799,114.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Gartner news, CEO Eugene A. Hall sold 10,425 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $294.26, for a total transaction of $3,067,660.50. Following the completion of the sale, the chief executive officer now owns 1,167,041 shares in the company, valued at $343,413,484.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Craig Safian sold 5,577 shares of the business’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $303.28, for a total transaction of $1,691,392.56. Following the sale, the chief financial officer now owns 61,986 shares of the company’s stock, valued at approximately $18,799,114.08. The disclosure for this sale can be found here. Insiders sold a total of 22,995 shares of company stock worth $6,806,053 over the last 90 days. Insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on IT shares. Morgan Stanley lifted their price target on shares of Gartner from $274.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 3rd. Robert W. Baird lifted their price objective on shares of Gartner from $334.00 to $365.00 in a research note on Wednesday, August 3rd. Barclays lifted their price objective on shares of Gartner from $265.00 to $315.00 and gave the company an “equal weight” rating in a research note on Thursday, August 4th. TheStreet upgraded shares of Gartner from a “c+” rating to a “b-” rating in a research note on Wednesday, August 17th. Finally, BMO Capital Markets dropped their price objective on shares of Gartner from $315.00 to $265.00 and set a “market perform” rating on the stock in a research note on Tuesday, June 21st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $321.67.

About Gartner

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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.

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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