Gartner, Inc. (NYSE:IT) Shares Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC lifted its position in shares of Gartner, Inc. (NYSE:IT) by 8.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 947 shares of the information technology services provider’s stock after purchasing an additional 70 shares during the period. Summit Trail Advisors LLC’s holdings in Gartner were worth $480,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IT. Sustainable Growth Advisers LP acquired a new position in shares of Gartner during the second quarter worth $266,541,000. Principal Financial Group Inc. increased 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 buying an additional 341,911 shares during the last quarter. Natixis Advisors LLC increased its stake in shares of Gartner by 117.4% in the second quarter. Natixis Advisors LLC now owns 200,097 shares of the information technology services provider’s stock worth $89,856,000 after buying an additional 108,061 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Gartner in the third quarter worth $36,789,000. Finally, Swedbank AB bought a new stake in shares of Gartner in the first quarter worth $30,735,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IT has been the subject of a number of research analyst reports. BMO Capital Markets lifted their price target on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Robert W. Baird lifted their price target on shares of Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, Bank of America lifted their price target on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $539.25.

Insider Activity

In other news, EVP Akhil Jain sold 500 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $492.00, for a total transaction of $246,000.00. Following the completion of the transaction, the executive vice president now owns 4,339 shares of the company’s stock, valued at approximately $2,134,788. The trade was a 10.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott Hensel sold 5,580 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $490.00, for a total transaction of $2,734,200.00. Following the transaction, the executive vice president now directly owns 19,724 shares of the company’s stock, valued at approximately $9,664,760. This trade represents a 22.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,729 shares of company stock valued at $37,809,011. 3.60% of the stock is currently owned by company insiders.

Gartner Stock Up 0.8 %

IT stock opened at $523.13 on Wednesday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $559.00. The firm has a fifty day moving average price of $520.24 and a two-hundred day moving average price of $482.02. The firm has a market cap of $40.35 billion, a price-to-earnings ratio of 38.58, a PEG ratio of 3.25 and a beta of 1.32.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the company posted $2.56 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts predict that Gartner, Inc. will post 11.89 EPS for the current 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.