Moors & Cabot Inc. Has $343,000 Stake in Gartner, Inc. (NYSE:IT)

Moors & Cabot Inc. increased its position in shares of Gartner, Inc. (NYSE:IT) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 763 shares of the information technology services provider’s stock after purchasing an additional 22 shares during the period. Moors & Cabot Inc.’s holdings in Gartner were worth $343,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in IT. Frazier Financial Advisors LLC acquired a new position in Gartner in the 4th quarter valued at $27,000. DSM Capital Partners LLC acquired a new position in Gartner in the fourth quarter valued at about $32,000. Central Pacific Bank Trust Division bought a new stake in Gartner during the first quarter worth about $36,000. Crewe Advisors LLC grew its stake in Gartner by 223.3% during the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after buying an additional 67 shares in the last quarter. Finally, J.Safra Asset Management Corp grew its stake in Gartner by 58.7% during the first quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock worth $70,000 after buying an additional 54 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insider Activity at Gartner

In other news, EVP Alwyn Dawkins sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total value of $505,490.00. Following the transaction, the executive vice president now owns 56,650 shares in the company, valued at approximately $28,636,008.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Alwyn Dawkins sold 1,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $505.49, for a total value of $505,490.00. Following the transaction, the executive vice president now directly owns 56,650 shares of the company’s stock, valued at approximately $28,636,008.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen E. Dykstra sold 1,683 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $465.55, for a total value of $783,520.65. Following the sale, the director now directly owns 19,825 shares of the company’s stock, valued at approximately $9,229,528.75. The disclosure for this sale can be found here. Insiders have sold 65,164 shares of company stock worth $32,601,014 over the last ninety days. Insiders own 3.60% of the company’s stock.

Gartner Price Performance

Shares of NYSE:IT opened at $513.59 on Friday. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. Gartner, Inc. has a 52 week low of $323.61 and a 52 week high of $517.48. The firm has a market cap of $39.87 billion, a PE ratio of 51.10, a price-to-earnings-growth ratio of 3.89 and a beta of 1.32. The firm’s fifty day moving average is $483.06 and its 200-day moving average is $462.16.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping the consensus estimate of $3.02 by $0.20. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.85 EPS. Sell-side analysts predict that Gartner, Inc. will post 11.59 earnings per share for the current year.

Analysts Set New Price Targets

IT has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price objective on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. UBS Group boosted their price target on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Bank of America raised their price objective on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets boosted their target price on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley raised their price target on shares of Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Gartner has an average rating of “Hold” and an average target price of $521.00.

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.