Conestoga Capital Advisors LLC Acquires 253 Shares of Gartner, Inc. (NYSE:IT)

Conestoga Capital Advisors LLC raised its stake in shares of Gartner, Inc. (NYSE:IT) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,146 shares of the information technology services provider’s stock after purchasing an additional 253 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in Gartner were worth $15,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of IT. Fortitude Family Office LLC grew its position in Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after acquiring an additional 20 shares during the last quarter. Moors & Cabot Inc. increased its holdings in shares of Gartner by 3.0% in the second quarter. Moors & Cabot Inc. now owns 763 shares of the information technology services provider’s stock worth $343,000 after buying an additional 22 shares during the period. TIAA Trust National Association lifted its stake in shares of Gartner by 3.2% in the 1st quarter. TIAA Trust National Association now owns 744 shares of the information technology services provider’s stock valued at $355,000 after acquiring an additional 23 shares during the last quarter. Mather Group LLC. boosted its holdings in Gartner by 2.2% during the 2nd quarter. Mather Group LLC. now owns 1,079 shares of the information technology services provider’s stock valued at $514,000 after acquiring an additional 23 shares during the period. Finally, Wallace Advisory Group LLC grew its position in Gartner by 2.4% during the 2nd quarter. Wallace Advisory Group LLC now owns 980 shares of the information technology services provider’s stock worth $440,000 after acquiring an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Akhil Jain sold 400 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $485.00, for a total value of $194,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,839 shares in the company, valued at $2,346,915. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Gartner news, EVP Akhil Jain sold 400 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $485.00, for a total transaction of $194,000.00. Following the completion of the transaction, the executive vice president now owns 4,839 shares of the company’s stock, valued at approximately $2,346,915. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Claire Herkes sold 478 shares of Gartner stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $506.01, for a total transaction of $241,872.78. Following the transaction, the executive vice president now owns 1,905 shares of the company’s stock, valued at $963,949.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,582 shares of company stock worth $25,743,407. 3.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

IT has been the subject of a number of analyst reports. Wells Fargo & Company increased their price objective on Gartner from $435.00 to $460.00 and gave the company an “underweight” rating in a research note on Monday, October 14th. Robert W. Baird boosted their price objective on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. BMO Capital Markets boosted 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. Finally, Morgan Stanley increased their price objective on Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $532.86.

Gartner Trading Up 1.0 %

IT stock traded up $5.15 during trading on Friday, reaching $507.65. The company had a trading volume of 85,093 shares, compared to its average volume of 364,573. The business has a 50 day moving average of $507.87 and a 200 day moving average of $471.18. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $39.12 billion, a P/E ratio of 48.43, a PEG ratio of 3.22 and a beta of 1.32. Gartner, Inc. has a 52 week low of $332.59 and a 52 week high of $535.29.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.20. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the company earned $2.85 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Gartner, Inc. will post 11.65 earnings per share for the current fiscal year.

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.