Wilmington Savings Fund Society FSB Invests $897,000 in Gartner, Inc. (NYSE:IT)

Wilmington Savings Fund Society FSB purchased a new stake in Gartner, Inc. (NYSE:IT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,771 shares of the information technology services provider’s stock, valued at approximately $897,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pine Valley Investments Ltd Liability Co boosted its position in Gartner by 15.6% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 17,146 shares of the information technology services provider’s stock worth $8,689,000 after acquiring an additional 2,313 shares during the period. Virtu Financial LLC purchased a new stake in shares of Gartner in the third quarter worth approximately $1,216,000. Unigestion Holding SA acquired a new stake in shares of Gartner during the third quarter worth approximately $24,048,000. Virtue Capital Management LLC purchased a new position in Gartner during the third quarter valued at approximately $205,000. Finally, Coldstream Capital Management Inc. grew its position in Gartner by 10.5% during the third quarter. Coldstream Capital Management Inc. now owns 2,256 shares of the information technology services provider’s stock valued at $1,148,000 after purchasing an additional 215 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Stock Down 1.1 %

Shares of IT stock opened at $508.46 on Friday. The company has a market capitalization of $39.22 billion, a price-to-earnings ratio of 37.50, a PEG ratio of 3.24 and a beta of 1.31. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. The stock’s 50 day simple moving average is $522.13 and its 200 day simple moving average is $488.89. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $559.00.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.56 earnings per share. As a group, research analysts predict that Gartner, Inc. will post 11.89 EPS for the current year.

Insiders Place Their Bets

In other news, Director James C. Smith sold 2,450 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $554.68, for a total transaction of $1,358,966.00. Following the completion of the transaction, the director now directly owns 529,844 shares in the company, valued at $293,893,869.92. The trade was a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William James Wartinbee III sold 189 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $523.54, for a total transaction of $98,949.06. Following the completion of the sale, the executive vice president now owns 7,311 shares in the company, valued at approximately $3,827,600.94. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,583 shares of company stock valued at $19,241,974 in the last quarter. Insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Robert W. Baird lifted their target price on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Wells Fargo & Company increased their price objective on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Morgan Stanley boosted their target price on Gartner from $560.00 to $564.00 and gave the company an “equal weight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Finally, StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $543.75.

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.