Wedge Capital Management L L P NC Increases Holdings in Gartner, Inc. (NYSE:IT)

Wedge Capital Management L L P NC grew its holdings in Gartner, Inc. (NYSE:IT) by 11.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 132,107 shares of the information technology services provider’s stock after buying an additional 13,286 shares during the quarter. Gartner makes up about 1.2% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 16th largest holding. Wedge Capital Management L L P NC’s holdings in Gartner were worth $64,002,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Eastern Bank purchased a new stake in Gartner in the third quarter worth $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of Gartner in the 3rd quarter worth about $44,000. True Wealth Design LLC boosted its stake in shares of Gartner by 2,350.0% during the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after purchasing an additional 94 shares in the last quarter. Fortitude Family Office LLC increased its position in shares of Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after buying an additional 20 shares during the period. Finally, Asset Dedication LLC raised its stake in Gartner by 46.5% in the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock worth $75,000 after buying an additional 47 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Gartner

In related news, EVP William James Wartinbee III sold 189 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $523.54, for a total transaction of $98,949.06. Following the transaction, the executive vice president now owns 7,311 shares in the company, valued at $3,827,600.94. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Claire Herkes sold 411 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total transaction of $214,229.64. Following the completion of the sale, the executive vice president now owns 1,494 shares in the company, valued at $778,732.56. This represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,583 shares of company stock worth $19,241,974 over the last quarter. 3.60% of the stock is currently owned by insiders.

Gartner Stock Up 0.8 %

NYSE:IT opened at $516.34 on Friday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $39.83 billion, a P/E ratio of 38.08, a P/E/G ratio of 2.72 and a beta of 1.33. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $559.00. The firm has a 50-day simple moving average of $507.49 and a two-hundred day simple moving average of $498.03.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.56 EPS. Analysts predict that Gartner, Inc. will post 11.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IT. Wells Fargo & Company cut their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research report on Friday, January 10th. Morgan Stanley reduced their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research note on Thursday. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $525.00 to $600.00 in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Finally, StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Gartner has an average rating of “Hold” and an average target price of $550.75.

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.