abrdn plc Buys 8,150 Shares of Gartner, Inc. (NYSE:IT)

abrdn plc boosted its stake in shares of Gartner, Inc. (NYSE:IT) by 15.8% in the fourth quarter, HoldingsChannel reports. The firm owned 59,872 shares of the information technology services provider’s stock after purchasing an additional 8,150 shares during the quarter. abrdn plc’s holdings in Gartner were worth $27,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. BKM Wealth Management LLC acquired a new stake in shares of Gartner during the fourth quarter worth $26,000. AdvisorNet Financial Inc lifted its holdings in shares of Gartner by 59.5% during the fourth quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock worth $30,000 after buying an additional 25 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in Gartner by 7,500.0% in the fourth quarter. Harbor Investment Advisory LLC now owns 76 shares of the information technology services provider’s stock valued at $34,000 after purchasing an additional 75 shares in the last quarter. OFI Invest Asset Management acquired a new position in Gartner in the third quarter valued at about $25,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Gartner in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. UBS Group raised Gartner from a “neutral” rating to a “buy” rating and boosted their price target for the company from $484.00 to $550.00 in a research note on Thursday, April 11th. BMO Capital Markets boosted their price target on Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a research note on Thursday, February 8th. Deutsche Bank Aktiengesellschaft started coverage on Gartner in a research note on Tuesday, April 16th. They set a “hold” rating and a $507.00 target price for the company. Morgan Stanley boosted their target price on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Finally, StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Gartner has a consensus rating of “Hold” and an average target price of $477.60.

Insider Transactions at Gartner

In other news, EVP Yvonne Genovese sold 560 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $457.37, for a total transaction of $256,127.20. Following the sale, the executive vice president now directly owns 2,398 shares in the company, valued at $1,096,773.26. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Gartner news, EVP Yvonne Genovese sold 560 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $457.37, for a total transaction of $256,127.20. Following the completion of the sale, the executive vice president now owns 2,398 shares of the company’s stock, valued at approximately $1,096,773.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Akhil Jain sold 250 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $464.55, for a total transaction of $116,137.50. Following the sale, the executive vice president now directly owns 5,239 shares of the company’s stock, valued at approximately $2,433,777.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,952 shares of company stock worth $10,598,070. Insiders own 3.60% of the company’s stock.

Gartner Stock Performance

NYSE:IT opened at $443.06 on Tuesday. The stock has a market cap of $34.55 billion, a P/E ratio of 40.06, a price-to-earnings-growth ratio of 4.02 and a beta of 1.29. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.60. The stock’s 50-day moving average is $464.91 and its 200-day moving average is $436.38. Gartner, Inc. has a 1-year low of $292.60 and a 1-year high of $486.54.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.21. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $3.70 earnings per share. Equities research analysts anticipate that Gartner, Inc. will post 11.36 earnings per share for the current year.

Gartner Company Profile

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.