Proficio Capital Partners LLC Takes $95.76 Million Position in Gartner, Inc. (NYSE:IT)

Proficio Capital Partners LLC purchased a new stake in Gartner, Inc. (NYSE:IT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 197,664 shares of the information technology services provider’s stock, valued at approximately $95,762,000. Proficio Capital Partners LLC owned approximately 0.26% of Gartner at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kestra Investment Management LLC acquired a new stake in shares of Gartner in the fourth quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new position in Gartner in the third quarter valued at approximately $44,000. True Wealth Design LLC increased its stake in Gartner by 2,350.0% in the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after acquiring an additional 94 shares during the last quarter. Capital Performance Advisors LLP bought a new position in Gartner in the third quarter valued at approximately $77,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its stake in Gartner by 20.8% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 261 shares of the information technology services provider’s stock valued at $132,000 after acquiring an additional 45 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IT has been the topic of a number of recent analyst reports. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $525.00 to $600.00 in a research note on Friday, January 10th. Robert W. Baird lifted their price objective on shares of Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company decreased their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $552.63.

Gartner Stock Performance

NYSE IT opened at $491.38 on Friday. The stock has a market cap of $37.75 billion, a PE ratio of 30.65, a PEG ratio of 3.30 and a beta of 1.34. The firm’s fifty day moving average price is $509.78 and its two-hundred day moving average price is $509.80. 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, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $584.01.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $2.23. The company had revenue of $1.72 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.04 earnings per share. On average, equities analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Transactions at Gartner

In related news, Director Eileen Serra sold 1,200 shares of the business’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 transaction, the director now owns 1,627 shares in the company, valued at $796,855.79. The trade was a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William James Wartinbee III sold 189 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $523.54, for a total transaction of $98,949.06. Following the completion of the transaction, 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. Over the last 90 days, insiders have sold 1,479 shares of company stock worth $734,419. Company insiders own 3.60% of the company’s stock.

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.