NewEdge Advisors LLC Acquires 142 Shares of Gartner, Inc. (NYSE:IT)

NewEdge Advisors LLC lifted its holdings in shares of Gartner, Inc. (NYSE:IT) by 3.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,285 shares of the information technology services provider’s stock after purchasing an additional 142 shares during the period. NewEdge Advisors LLC’s holdings in Gartner were worth $2,076,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in IT. Kestra Investment Management LLC purchased a new stake in shares of Gartner during the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. purchased a new stake in Gartner during the 4th quarter valued at $49,000. Promus Capital LLC bought a new stake in Gartner in the 4th quarter worth $57,000. Hurley Capital LLC purchased a new position in shares of Gartner in the fourth quarter valued at about $73,000. Finally, Global Retirement Partners LLC raised its stake in shares of Gartner by 14.0% during the fourth quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock valued at $134,000 after acquiring an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

Shares of NYSE IT opened at $401.30 on Wednesday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The company has a 50 day simple moving average of $443.89 and a two-hundred day simple moving average of $491.12. Gartner, Inc. has a fifty-two week low of $366.05 and a fifty-two week high of $584.01. The company has a market capitalization of $30.83 billion, a price-to-earnings ratio of 25.03, a P/E/G ratio of 3.30 and a beta of 1.26.

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. 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 report on Thursday, January 16th. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. Barclays decreased their target price on Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a report on Monday. UBS Group cut their price target on shares of Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Finally, Robert W. Baird decreased their price objective on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Gartner has an average rating of “Hold” and an average price target of $513.63.

Insider Buying and Selling

In related news, SVP John J. Rinello sold 90 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares in the company, valued at approximately $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eileen Serra sold 1,200 shares of the firm’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 completion of the transaction, the director now directly owns 1,627 shares in the company, valued at $796,855.79. The trade was a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is owned by corporate insiders.

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.