Commonwealth Equity Services LLC Purchases 30 Shares of Gartner, Inc. (NYSE:IT)

Commonwealth Equity Services LLC increased its position in shares of Gartner, Inc. (NYSE:IT) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,379 shares of the information technology services provider’s stock after purchasing an additional 30 shares during the period. Commonwealth Equity Services LLC’s holdings in Gartner were worth $1,637,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in IT. Principal Financial Group Inc. increased its stake in Gartner by 5.5% in the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after purchasing an additional 103,814 shares during the period. D.A. Davidson & CO. increased its stake in Gartner by 4.2% in the 3rd quarter. D.A. Davidson & CO. now owns 1,108 shares of the information technology services provider’s stock worth $561,000 after buying an additional 45 shares during the period. CreativeOne Wealth LLC bought a new stake in Gartner during the 3rd quarter valued at about $229,000. Fiduciary Trust Co grew its stake in Gartner by 7.2% in the 3rd quarter. Fiduciary Trust Co now owns 3,761 shares of the information technology services provider’s stock worth $1,906,000 after acquiring an additional 252 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its position in shares of Gartner by 13.7% during the third quarter. Public Sector Pension Investment Board now owns 3,330 shares of the information technology services provider’s stock worth $1,688,000 after acquiring an additional 400 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Insider Activity

In other Gartner news, Director Eileen Serra sold 1,200 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were 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 owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares in the company, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Gartner Stock Performance

Shares of Gartner stock opened at $418.57 on Friday. The company has a market capitalization of $32.15 billion, a PE ratio of 26.11, a P/E/G ratio of 3.30 and a beta of 1.29. The company has a 50-day simple moving average of $494.18 and a two-hundred day simple moving average of $505.57. Gartner, Inc. has a one year low of $409.50 and a one year high of $584.01. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on IT. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. Morgan Stanley lowered their target price on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Robert W. Baird cut their price target on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Wells Fargo & Company decreased their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. Finally, StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $536.63.

About Gartner

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.