Gateway Advisory LLC Buys 51 Shares of Gartner, Inc. (NYSE:IT)

Gateway Advisory LLC increased its stake in Gartner, Inc. (NYSE:IT) by 3.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,665 shares of the information technology services provider’s stock after purchasing an additional 51 shares during the period. Gateway Advisory LLC’s holdings in Gartner were worth $748,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Gilbert & Cook Inc. raised its position in Gartner by 10.6% during the fourth quarter. Gilbert & Cook Inc. now owns 1,430 shares of the information technology services provider’s stock valued at $645,000 after purchasing an additional 137 shares in the last quarter. D.A. Davidson & CO. boosted its stake in Gartner by 19.6% in the fourth quarter. D.A. Davidson & CO. now owns 1,068 shares of the information technology services provider’s stock valued at $482,000 after buying an additional 175 shares in the last quarter. US Bancorp DE boosted its stake in Gartner by 5.4% in the fourth quarter. US Bancorp DE now owns 5,090 shares of the information technology services provider’s stock valued at $2,296,000 after buying an additional 260 shares in the last quarter. Pine Valley Investments Ltd Liability Co grew its position in Gartner by 46.8% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 11,219 shares of the information technology services provider’s stock valued at $5,061,000 after acquiring an additional 3,579 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in Gartner by 4.8% during the fourth quarter. TD Asset Management Inc now owns 53,059 shares of the information technology services provider’s stock worth $23,935,000 after acquiring an additional 2,419 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Alwyn Dawkins sold 1,000 shares of the firm’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 transaction of $505,490.00. Following the completion of the sale, the executive vice president now owns 56,650 shares of the company’s stock, valued at approximately $28,636,008.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Akhil Jain sold 400 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 4,839 shares of the company’s stock, valued at approximately $2,346,915. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Alwyn Dawkins sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 56,650 shares in the company, valued at approximately $28,636,008.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,164 shares of company stock worth $32,601,014. 3.60% of the stock is owned by corporate insiders.

Gartner Stock Performance

Shares of IT stock opened at $516.38 on Tuesday. The stock has a market capitalization of $40.09 billion, a PE ratio of 51.38, a PEG ratio of 3.89 and a beta of 1.32. The business’s 50 day simple moving average is $484.29 and its 200 day simple moving average is $462.45. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90. Gartner, Inc. has a one year low of $323.61 and a one year high of $517.48.

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

Analysts Set New Price Targets

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

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.