Industrial Alliance Investment Management Inc. Makes New Investment in Gartner, Inc. (NYSE:IT)

Industrial Alliance Investment Management Inc. purchased a new position in shares of Gartner, Inc. (NYSE:IT – Get Rating) in the third quarter, HoldingsChannel reports. The fund purchased 9,870 shares of the information technology services provider’s stock, valued at approximately $2,731,000.

A number of other large investors have also recently bought and sold shares of IT. Massachusetts Financial Services Co. MA boosted its holdings in shares of Gartner by 145.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,227,844 shares of the information technology services provider’s stock valued at $616,422,000 after buying an additional 1,318,892 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Gartner by 129.9% in the 2nd quarter. Millennium Management LLC now owns 963,565 shares of the information technology services provider’s stock valued at $233,019,000 after buying an additional 544,479 shares during the last quarter. Findlay Park Partners LLP acquired a new stake in shares of Gartner in the 3rd quarter valued at approximately $145,262,000. Putnam Investments LLC boosted its holdings in shares of Gartner by 254.0% in the 3rd quarter. Putnam Investments LLC now owns 492,201 shares of the information technology services provider’s stock valued at $136,187,000 after buying an additional 353,146 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Gartner by 20.3% in the 1st quarter. Wellington Management Group LLP now owns 2,029,738 shares of the information technology services provider’s stock valued at $603,766,000 after buying an additional 342,228 shares during the last quarter. Institutional investors and hedge funds own 91.86% of the company’s stock.

Analyst Ratings Changes

IT has been the subject of several recent analyst reports. BMO Capital Markets increased their price objective on Gartner from $356.00 to $357.00 and gave the company a “market perform” rating in a report on Thursday, February 9th. Barclays increased their price target on Gartner from $330.00 to $350.00 and gave the company an “equal weight” rating in a research note on Friday, December 2nd. StockNews.com assumed coverage on Gartner in a research note on Thursday. They issued a “buy” rating on the stock. Morgan Stanley increased their price target on Gartner from $358.00 to $366.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 8th. Finally, Wells Fargo & Company increased their price target on Gartner from $370.00 to $387.00 and gave the company an “overweight” rating in a research note on Wednesday, February 8th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Gartner has an average rating of “Moderate Buy” and a consensus price target of $359.00.

Gartner Stock Down 1.6 %

IT stock opened at $305.95 on Friday. The company has a debt-to-equity ratio of 10.77, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market capitalization of $24.19 billion, a price-to-earnings ratio of 30.63, a PEG ratio of 5.08 and a beta of 1.28. The business’s fifty day moving average price is $334.65 and its two-hundred day moving average price is $321.84. Gartner, Inc. has a fifty-two week low of $221.39 and a fifty-two week high of $358.25.

Gartner (NYSE:IT – Get Rating) last released its earnings results on Tuesday, February 7th. The information technology services provider reported $3.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $1.13. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.45 billion. Gartner had a return on equity of 2,645.96% and a net margin of 14.75%. Gartner’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.99 EPS. On average, equities analysts anticipate that Gartner, Inc. will post 9.49 earnings per share for the current year.

Insider Transactions at Gartner

In other news, EVP Valentin Sribar sold 348 shares of the stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $322.61, for a total transaction of $112,268.28. Following the sale, the executive vice president now directly owns 12,189 shares of the company’s stock, valued at approximately $3,932,293.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Craig Safian sold 4,510 shares of the firm’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $341.53, for a total value of $1,540,300.30. Following the sale, the chief financial officer now directly owns 64,282 shares of the company’s stock, valued at $21,954,231.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Valentin Sribar sold 348 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $322.61, for a total value of $112,268.28. Following the completion of the sale, the executive vice president now directly owns 12,189 shares in the company, valued at $3,932,293.29. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,031 shares of company stock valued at $15,047,172. 3.70% of the stock is owned by corporate insiders.

About Gartner

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Gartner, Inc is a research and advisory company, which equips business leaders with insights, advice, and tools that help build organizations. It operates through the following segments: Research, Consulting, and Conferences. The Research segment provides executives with objective insights and advice through reports, briefings, proprietary tools, access to the firm’s research experts, peer networking services, and membership programs.