OneAscent Financial Services LLC Acquires New Stake in Gartner, Inc. (NYSE:IT)

OneAscent Financial Services LLC bought a new stake in Gartner, Inc. (NYSE:IT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 518 shares of the information technology services provider’s stock, valued at approximately $251,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IT. Czech National Bank boosted its holdings in shares of Gartner by 6.5% during the fourth quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock worth $8,103,000 after purchasing an additional 1,028 shares during the last quarter. Entropy Technologies LP purchased a new position in Gartner during the fourth quarter worth about $366,000. D.A. Davidson & CO. boosted its stake in Gartner by 2.6% in the 4th quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider’s stock worth $551,000 after buying an additional 29 shares during the last quarter. Conestoga Capital Advisors LLC grew its holdings in Gartner by 1.5% in the 4th quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider’s stock valued at $15,322,000 after buying an additional 480 shares during the period. Finally, Barclays PLC increased its stake in shares of Gartner by 8.6% during the 3rd quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock valued at $84,520,000 after acquiring an additional 13,205 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the transaction, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. The trade was a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Gartner Trading Down 5.4 %

Shares of IT opened at $383.12 on Friday. Gartner, Inc. has a 12 month low of $382.23 and a 12 month high of $584.01. The stock’s 50-day moving average is $482.71 and its two-hundred day moving average is $502.19. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market cap of $29.43 billion, a PE ratio of 23.90, a P/E/G ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, topping the consensus estimate of $3.22 by $2.23. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the company posted $3.04 EPS. Gartner’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. UBS Group decreased their target price on shares of Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Robert W. Baird cut their target price on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Wells Fargo & Company lowered their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. Finally, Morgan Stanley cut their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Gartner has a consensus rating of “Hold” and a consensus target price of $525.38.

Gartner 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.