Wedmont Private Capital Raises Position in Gartner, Inc. (NYSE:IT)

Wedmont Private Capital boosted its stake in Gartner, Inc. (NYSE:IT) by 6.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,740 shares of the information technology services provider’s stock after buying an additional 110 shares during the period. Wedmont Private Capital’s holdings in Gartner were worth $792,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IT. Norges Bank bought a new position in shares of Gartner during the fourth quarter valued at approximately $388,781,000. First Trust Advisors LP increased its stake in shares of Gartner by 830.4% during the fourth quarter. First Trust Advisors LP now owns 514,230 shares of the information technology services provider’s stock valued at $231,974,000 after purchasing an additional 458,963 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Gartner by 12.0% during the fourth quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock valued at $835,826,000 after purchasing an additional 198,274 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Gartner by 18.5% during the fourth quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock valued at $415,344,000 after purchasing an additional 143,556 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Gartner by 26.3% during the fourth quarter. Mackenzie Financial Corp now owns 629,969 shares of the information technology services provider’s stock valued at $284,185,000 after purchasing an additional 131,222 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Stock Performance

NYSE:IT traded up $4.29 during trading hours on Tuesday, reaching $479.89. The company had a trading volume of 174,040 shares, compared to its average volume of 403,157. The company has a current ratio of 0.90, a quick ratio of 0.91 and a debt-to-equity ratio of 3.80. Gartner, Inc. has a 52 week low of $323.61 and a 52 week high of $509.15. The firm has a market cap of $37.25 billion, a price-to-earnings ratio of 47.73, a PEG ratio of 3.80 and a beta of 1.33. The firm’s 50 day moving average price is $455.39 and its 200-day moving average price is $455.50.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the firm posted $2.85 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. On average, analysts forecast that Gartner, Inc. will post 11.58 EPS for the current year.

Insider Transactions at Gartner

In other news, EVP Alwyn Dawkins sold 600 shares of Gartner stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $447.63, for a total transaction of $268,578.00. Following the transaction, the executive vice president now owns 51,583 shares in the company, valued at approximately $23,090,098.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Yvonne Genovese sold 439 shares of Gartner stock in a transaction on Monday, May 20th. The shares were sold at an average price of $456.13, for a total transaction of $200,241.07. Following the transaction, the executive vice president now owns 1,959 shares in the company, valued at approximately $893,558.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alwyn Dawkins sold 600 shares of Gartner stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $447.63, for a total transaction of $268,578.00. Following the transaction, the executive vice president now owns 51,583 shares in the company, valued at approximately $23,090,098.29. The disclosure for this sale can be found here. Insiders have sold 37,809 shares of company stock worth $17,720,941 in the last 90 days. 3.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group raised their target price on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets raised their price target on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Wells Fargo & Company initiated coverage on shares of Gartner in a research report on Monday. They set an “underweight” rating and a $435.00 price target for the company. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. 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 report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $521.00.

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.