Chapin Davis Inc. Buys 555 Shares of Gartner, Inc. (NYSE:IT)

Chapin Davis Inc. lifted its stake in shares of Gartner, Inc. (NYSE:IT) by 26.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,683 shares of the information technology services provider’s stock after purchasing an additional 555 shares during the quarter. Chapin Davis Inc.’s holdings in Gartner were worth $1,279,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. LPL Financial LLC grew its position in Gartner by 23.0% in the 3rd quarter. LPL Financial LLC now owns 28,129 shares of the information technology services provider’s stock worth $9,665,000 after purchasing an additional 5,266 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake in Gartner by 357.9% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 87 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 68 shares during the last quarter. Bank of Nova Scotia lifted its stake in Gartner by 2.4% in the third quarter. Bank of Nova Scotia now owns 43,588 shares of the information technology services provider’s stock valued at $14,977,000 after purchasing an additional 1,011 shares during the last quarter. Gateway Advisory LLC grew its holdings in Gartner by 1.8% during the third quarter. Gateway Advisory LLC now owns 1,720 shares of the information technology services provider’s stock valued at $591,000 after purchasing an additional 30 shares during the period. Finally, Fairhaven Wealth Management LLC increased its position in Gartner by 7.8% in the third quarter. Fairhaven Wealth Management LLC now owns 1,046 shares of the information technology services provider’s stock worth $359,000 after buying an additional 76 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Trading Up 1.0 %

NYSE:IT opened at $449.06 on Monday. The stock has a market cap of $34.86 billion, a price-to-earnings ratio of 44.68, a PEG ratio of 3.93 and a beta of 1.33. The company’s 50 day moving average price is $439.07 and its 200-day moving average price is $452.08. Gartner, Inc. has a 52 week low of $323.61 and a 52 week high of $486.54. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.42.

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

Insider Transactions at Gartner

In related news, Director James C. Smith sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $439.29, for a total value of $4,392,900.00. Following the transaction, the director now owns 599,074 shares of the company’s stock, valued at $263,167,217.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director James C. Smith sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $439.29, for a total value of $4,392,900.00. Following the transaction, the director now directly owns 599,074 shares of the company’s stock, valued at approximately $263,167,217.46. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Yvonne Genovese sold 439 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $456.13, for a total value of $200,241.07. Following the sale, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at approximately $893,558.67. The disclosure for this sale can be found here. Insiders have sold a total of 22,544 shares of company stock worth $10,079,813 in the last ninety days. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on IT. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research report on Saturday. Robert W. Baird dropped their price objective on Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. UBS Group decreased their price target 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 started coverage on shares of Gartner in a research note on Tuesday, April 16th. They set a “hold” rating and a $507.00 price objective for the company. Finally, BMO Capital Markets reduced their price target on shares of Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $474.50.

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.