Prudential PLC buys 2,312 shares of Gartner, Inc. (NYSE:IT)

Prudential PLC raised its stake in shares of Gartner, Inc. (NYSE:IT – Free Report) by 27.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 10,875 shares of the information technology services provider’s stock after acquiring an additional 2,312 shares during the period. Prudential PLC’s holdings in Gartner were worth $4,884,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Gartner by 0.7% in the first quarter. Vanguard Group Inc. now owns 8,974,760 shares of the information technology services provider’s stock worth $4,277,999,000 after buying an additional 60,786 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Gartner by 22.0% in the second quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock worth $852,014,000 after purchasing an additional 341,911 shares in the last quarter. Wellington Management Group LLP boosted its stake in Gartner by 12.0% in the fourth quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock worth $835,826,000 after buying an additional 198,274 shares in the last quarter. Brown Advisory Inc. boosted its stake in Gartner by 4.6% in the fourth quarter. Brown Advisory Inc. now owns 1,208,914 shares of the information technology services provider’s stock worth $545,353,000 after buying an additional 52,826 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Gartner by 18.5% in the 4th quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock worth $415,344,000 after buying an additional 143,556 shares during the last quarter. 91.51% of shares are held by institutional investors.

Gartner Trading Up 1.4%

Shares of Gartner stock opened at $499.57 on Wednesday. The stock has a market cap of $38.50 billion, a P/E ratio of 49.71, a PEG ratio of 3.77 and a beta of 1.32. Gartner, Inc. it has a fifty-two week low of $323.61 and a fifty-two week high of $509.15. The company’s fifty day moving average price is $473.65 and its 200 day moving average price is $459.71. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90, and a current ratio of 0.90.

Gartner (NYSE:IT – Get Your Free Report ) last released its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The company’s revenue rose 6.1% year-over-year. In the same quarter last year, the company earned $2.85 per share. Equities research analysts forecast that Gartner, Inc. will post 11.59 earnings per share for the current fiscal year.

Analysts on Wall Street are forecasting an increase

A number of equities analysts recently covered IT shares. Wells Fargo & Company upgraded Gartner to a “strong sell” rating in a research note on Tuesday, August 13th. UBS Group boosted their price objective on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Robert W. Baird boosted their price objective on Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley upped their target price on Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $521.00, according to MarketBeat.

Get the latest IT stock report

Indoor activity

In other news, CEO Eugene A. Hall sold 12,082 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $504.84, for a total transaction of $6,099,476.88. Following the transaction, the chief executive officer now directly owns 1,143,389 shares of the company’s stock, valued at $577,228,502.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this link. In other news, CEO Eugene A. Hall sold 12,082 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $504.84, for a total transaction of $6,099,476.88. Following the completion of the sale, the chief executive officer now directly owns 1,143,389 shares in the company, valued at $577,228,502.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC’s website. Also, EVP Yvonne Genovese sold 443 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $483.62, for a total transaction of $214,243.66. Following the sale, the executive vice president now owns 1,959 shares of the company’s stock, valued at $947,411.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,998 shares of company stock worth $13,834,898. 3.60% of shares are currently owned by insiders.

Gartner profile

(Free Report)

Gartner, Inc. operates as a research and consulting 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 includes on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.

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