Thoroughbred Financial Services LLC Buys Shares of 1,156 Gartner, Inc. (NYSE:IT)

Thoroughbred Financial Services LLC bought a new stake in Gartner, Inc. (NYSE:IT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,156 shares of the information technology services provider’s stock, valued at approximately $519,000.

Other institutional investors also recently bought and sold shares of the company. TCW Group Inc. grew its position in shares of Gartner by 4.0% during the fourth quarter. TCW Group Inc. now owns 199,062 shares of the information technology services provider’s stock worth $89,800,000 after purchasing an additional 7,639 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Gartner by 11.4% during the first quarter. Russell Investments Group Ltd. now owns 25,063 shares of the information technology services provider’s stock worth $11,987,000 after purchasing an additional 2,560 shares in the last quarter. Icon Wealth Advisors LLC purchased a new stake in shares of Gartner during the fourth quarter worth about $2,093,000. Madison Asset Management LLC grew its holdings in Gartner by 2.8% during the 4th quarter. Madison Asset Management LLC now owns 344,657 shares of the information technology services provider’s stock valued at $155,478,000 after buying an additional 9,538 shares in the last quarter. Finally, TFO Wealth Partners LLC grew its holdings in Gartner by 3,456.6% during the 4th quarter. TFO Wealth Partners LLC now owns 2,703 shares of the information technology services provider’s stock valued at $1,219,000 after buying an additional 2,627 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

IT opened at $510.08 on Tuesday. The business has a fifty day moving average of $477.01 and a 200 day moving average of $460.61. Gartner, Inc. has a 52-week low of $323.61 and a 52-week high of $515.09. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 3.80. The stock has a market cap of $39.60 billion, a P/E ratio of 50.75, a PEG ratio of 3.89 and a beta of 1.32.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.20. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the business earned $2.85 EPS. Gartner’s revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Gartner, Inc. will post 11.59 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on IT shares. BMO Capital Markets raised their price target on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Morgan Stanley raised their price target on Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. UBS Group raised their price target on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Robert W. Baird raised their price target on Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company upgraded Gartner to a “strong sell” rating in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $521.00.

Insiders Place Their Bets

In other Gartner news, EVP Alwyn Dawkins sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $505.49, for a total value of $505,490.00. Following the completion of the sale, the executive vice president now directly owns 56,650 shares in the company, valued at approximately $28,636,008.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Akhil Jain sold 400 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $485.00, for a total transaction of $194,000.00. Following the completion of the sale, the executive vice president now directly owns 4,839 shares in the company, valued at approximately $2,346,915. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alwyn Dawkins sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $505.49, for a total value of $505,490.00. Following the sale, the executive vice president now owns 56,650 shares of the company’s stock, valued at $28,636,008.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,164 shares of company stock worth $32,601,014. 3.60% of the stock is currently owned by company insiders.

Gartner Company 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.