Harbor Investment Advisory LLC Increases Stock Position in Gartner, Inc. (NYSE:IT)

Harbor Investment Advisory LLC boosted its stake in Gartner, Inc. (NYSE:IT) by 7,500.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76 shares of the information technology services provider’s stock after purchasing an additional 75 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Gartner were worth $34,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of IT. Morgan Stanley lifted its stake in Gartner by 271.1% in the 4th quarter. Morgan Stanley now owns 2,151,011 shares of the information technology services provider’s stock worth $723,041,000 after purchasing an additional 1,571,413 shares in the last quarter. Norges Bank purchased a new stake in shares of Gartner during the 4th quarter valued at about $263,599,000. Principal Financial Group Inc. raised its position in shares of Gartner by 30.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,565,046 shares of the information technology services provider’s stock valued at $537,766,000 after buying an additional 364,128 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Gartner by 20.3% during 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 in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Gartner by 888.4% during the 3rd quarter. American Century Companies Inc. now owns 300,106 shares of the information technology services provider’s stock valued at $103,119,000 after buying an additional 269,744 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Valentin Sribar sold 682 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $453.00, for a total transaction of $308,946.00. Following the transaction, the executive vice president now directly owns 12,269 shares in the company, valued at $5,557,857. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Valentin Sribar sold 682 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $453.00, for a total transaction of $308,946.00. Following the transaction, the executive vice president now directly owns 12,269 shares in the company, valued at $5,557,857. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Claire Herkes sold 1,460 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $475.76, for a total transaction of $694,609.60. Following the transaction, the executive vice president now owns 2,842 shares in the company, valued at $1,352,109.92. The disclosure for this sale can be found here. Insiders have sold 22,952 shares of company stock worth $10,598,070 in the last three months. Corporate insiders own 3.90% of the company’s stock.

Gartner Stock Performance

Gartner stock opened at $465.45 on Friday. The company has a debt-to-equity ratio of 3.60, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $36.29 billion, a P/E ratio of 42.08, a price-to-earnings-growth ratio of 4.33 and a beta of 1.29. The company’s 50-day moving average is $465.86 and its 200 day moving average is $430.82. Gartner, Inc. has a 1-year low of $292.60 and a 1-year high of $486.54.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.21. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. Gartner had a net margin of 14.94% and a return on equity of 156.35%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.70 EPS. Research analysts forecast that Gartner, Inc. will post 11.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. UBS Group raised shares of Gartner from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $484.00 to $550.00 in a research report on Thursday. BMO Capital Markets increased their price objective on shares of Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. Finally, Wells Fargo & Company increased their price objective on shares of Gartner from $380.00 to $435.00 and gave the stock an “overweight” rating in a research report on Friday, December 15th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $470.25.

About Gartner

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.