GAMMA Investing LLC Makes New Investment in Gartner, Inc. (NYSE:IT)

GAMMA Investing LLC purchased a new position in Gartner, Inc. (NYSE:IT) during the 4th quarter, HoldingsChannel reports. The firm purchased 280 shares of the information technology services provider’s stock, valued at approximately $128,000.

A number of other institutional investors and hedge funds have also modified their holdings of IT. BKM Wealth Management LLC bought a new position in Gartner during the fourth quarter worth about $26,000. MCF Advisors LLC bought a new stake in shares of Gartner in the 4th quarter valued at approximately $27,000. AdvisorNet Financial Inc grew its stake in shares of Gartner by 59.5% in the 4th quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 25 shares during the period. Harbor Investment Advisory LLC grew its stake in shares of Gartner by 7,500.0% in the 4th 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 during the period. Finally, OFI Invest Asset Management bought a new stake in shares of Gartner in the 3rd quarter valued at approximately $25,000. 91.51% of the stock is currently owned by institutional investors.

Gartner Stock Up 0.6 %

NYSE IT opened at $448.78 on Friday. The firm has a market cap of $34.99 billion, a PE ratio of 40.58, a price-to-earnings-growth ratio of 4.12 and a beta of 1.29. Gartner, Inc. has a one year low of $293.73 and a one year high of $486.54. The stock’s 50 day simple moving average is $464.87 and its 200 day simple moving average is $438.46. The company has a debt-to-equity ratio of 3.60, a current ratio of 0.91 and a quick ratio of 0.91.

Gartner (NYSE:IT) last released its quarterly 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 analyst estimates of $1.59 billion. Gartner had a return on equity of 156.35% and a net margin of 14.94%. Gartner’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $3.70 EPS. As a group, sell-side analysts forecast that Gartner, Inc. will post 11.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IT. BMO Capital Markets upped their price objective 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 began coverage on Gartner in a research note on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price objective on the stock. UBS Group upgraded Gartner from a “neutral” rating to a “buy” rating and upped their price objective for the company from $484.00 to $550.00 in a research note on Thursday, April 11th. Morgan Stanley upped their price objective on Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Finally, StockNews.com lowered 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $477.60.

Insider Buying and Selling at Gartner

In other Gartner news, Director James C. Smith sold 5,000 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $455.00, for a total value of $2,275,000.00. Following the transaction, the director now directly owns 638,235 shares in the company, valued at approximately $290,396,925. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Claire Herkes sold 1,460 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $475.76, for a total value of $694,609.60. Following the transaction, the executive vice president now owns 2,842 shares of the company’s stock, valued at approximately $1,352,109.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James C. Smith sold 5,000 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $455.00, for a total value of $2,275,000.00. Following the completion of the transaction, the director now directly owns 638,235 shares in the company, valued at approximately $290,396,925. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,952 shares of company stock worth $10,598,070. Insiders own 3.60% of the company’s stock.

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.