HB Wealth Management LLC Acquires 27 Shares of Gartner, Inc. (NYSE:IT)

HB Wealth Management LLC raised its holdings in shares of Gartner, Inc. (NYSE:IT) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,073 shares of the information technology services provider’s stock after purchasing an additional 27 shares during the quarter. HB Wealth Management LLC’s holdings in Gartner were worth $484,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fox Run Management L.L.C. bought a new stake in shares of Gartner during the third quarter worth $230,000. Chapin Davis Inc. bought a new stake in shares of Gartner during the fourth quarter worth $960,000. Stifel Financial Corp lifted its position in shares of Gartner by 32.6% during the third quarter. Stifel Financial Corp now owns 33,817 shares of the information technology services provider’s stock worth $11,620,000 after purchasing an additional 8,319 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Gartner by 60.7% in the third quarter. Envestnet Asset Management Inc. now owns 323,573 shares of the information technology services provider’s stock valued at $111,183,000 after acquiring an additional 122,248 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Gartner in the fourth quarter valued at about $13,934,000. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on IT shares. Morgan Stanley lifted their price objective on Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Wells Fargo & Company lifted their price objective on Gartner from $380.00 to $435.00 and gave the company an “overweight” rating in a report on Friday, December 15th. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. UBS Group lifted their price objective on Gartner from $412.00 to $490.00 and gave the company a “neutral” rating in a report on Tuesday, February 6th. Finally, BMO Capital Markets lifted their price objective on Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a report on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Gartner has an average rating of “Hold” and a consensus price target of $455.25.

Insider Transactions at Gartner

In other news, EVP Akhil Jain sold 250 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $464.55, for a total transaction of $116,137.50. Following the sale, the executive vice president now owns 5,239 shares in the company, valued at $2,433,777.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director James C. Smith sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $459.68, for a total value of $4,596,800.00. Following the sale, the director now owns 623,235 shares in the company, valued at $286,488,664.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Akhil Jain sold 250 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $464.55, for a total value of $116,137.50. Following the completion of the transaction, the executive vice president now directly owns 5,239 shares of the company’s stock, valued at $2,433,777.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,952 shares of company stock worth $10,598,070. Insiders own 3.90% of the company’s stock.

Gartner Price Performance

IT opened at $481.12 on Thursday. The business’s 50-day moving average is $464.22 and its two-hundred day moving average is $421.49. Gartner, Inc. has a 1 year low of $292.60 and a 1 year high of $486.54. 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 $37.51 billion, a PE ratio of 43.50, a price-to-earnings-growth ratio of 4.32 and a beta of 1.29.

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

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.