GAMMA Investing LLC Purchases 125 Shares of Gartner, Inc. (NYSE:IT)

GAMMA Investing LLC lifted its position in Gartner, Inc. (NYSE:IT) by 44.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 405 shares of the information technology services provider’s stock after acquiring an additional 125 shares during the quarter. GAMMA Investing LLC’s holdings in Gartner were worth $193,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Paralel Advisors LLC lifted its position in shares of Gartner by 1.3% in the 3rd quarter. Paralel Advisors LLC now owns 5,875 shares of the information technology services provider’s stock worth $2,019,000 after purchasing an additional 73 shares during the period. Kestra Advisory Services LLC lifted its holdings in Gartner by 8.7% during the third quarter. Kestra Advisory Services LLC now owns 4,403 shares of the information technology services provider’s stock worth $1,513,000 after buying an additional 352 shares during the period. QRG Capital Management Inc. bought a new stake in Gartner during the 3rd quarter valued at $278,000. Dark Forest Capital Management LP bought a new stake in Gartner during the 3rd quarter valued at $433,000. Finally, LPL Financial LLC increased its holdings in shares of Gartner by 23.0% in the 3rd quarter. LPL Financial LLC now owns 28,129 shares of the information technology services provider’s stock valued at $9,665,000 after acquiring an additional 5,266 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IT has been the topic of a number of recent research reports. UBS Group dropped their price objective on Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Gartner in a report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price target on the stock. Robert W. Baird reduced their price objective on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. BMO Capital Markets lowered their target price on shares of Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a research note on Thursday, May 2nd. Finally, StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $474.50.

Gartner Price Performance

Shares of IT opened at $450.48 on Friday. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91. The company’s fifty day moving average price is $439.74 and its 200-day moving average price is $452.09. Gartner, Inc. has a 1-year low of $323.61 and a 1-year high of $486.54. The firm has a market capitalization of $34.97 billion, a PE ratio of 44.82, a price-to-earnings-growth ratio of 3.91 and a beta of 1.32.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.40. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the company earned $2.88 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. On average, equities research analysts predict that Gartner, Inc. will post 11.55 EPS for the current year.

Insider Buying and Selling at Gartner

In related news, EVP Yvonne Genovese sold 439 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $456.13, for a total transaction of $200,241.07. Following the completion of the transaction, the executive vice president now owns 1,959 shares of the company’s stock, valued at $893,558.67. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Gartner news, Director Anne Sutherland Fuchs sold 705 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $428.99, for a total value of $302,437.95. Following the sale, the director now owns 8,524 shares in the company, valued at approximately $3,656,710.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Yvonne Genovese sold 439 shares of Gartner stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $456.13, for a total transaction of $200,241.07. Following the transaction, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at $893,558.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,544 shares of company stock worth $10,079,813. Company insiders own 3.60% of the company’s stock.

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.