AlphaQuest LLC Invests $2.90 Million in Gartner, Inc. (NYSE:IT)

AlphaQuest LLC acquired a new stake in shares of Gartner, Inc. (NYSE:IT) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 5,991 shares of the information technology services provider’s stock, valued at approximately $2,902,000. Gartner makes up about 0.4% of AlphaQuest LLC’s investment portfolio, making the stock its 18th largest position.

Several other institutional investors also recently bought and sold shares of the business. Baron Wealth Management LLC lifted its position in shares of Gartner by 4.1% during the third quarter. Baron Wealth Management LLC now owns 481 shares of the information technology services provider’s stock valued at $244,000 after buying an additional 19 shares during the last quarter. Howard Capital Management Inc. lifted its position in Gartner by 4.4% during the fourth quarter. Howard Capital Management Inc. now owns 452 shares of the information technology services provider’s stock valued at $219,000 after acquiring an additional 19 shares during the last quarter. Gilbert & Cook Inc. boosted its stake in Gartner by 1.5% in the fourth quarter. Gilbert & Cook Inc. now owns 1,364 shares of the information technology services provider’s stock valued at $661,000 after acquiring an additional 20 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in Gartner by 2.5% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 826 shares of the information technology services provider’s stock worth $400,000 after purchasing an additional 20 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in shares of Gartner by 2.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 917 shares of the information technology services provider’s stock worth $444,000 after purchasing an additional 22 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $525.00 to $600.00 in a report on Friday, January 10th. Wells Fargo & Company cut their price objective on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a report on Friday, January 10th. Morgan Stanley lowered their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Finally, StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Gartner has an average rating of “Moderate Buy” and an average target price of $552.63.

Insider Transactions at Gartner

In related news, SVP John J. Rinello sold 90 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the sale, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. This represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Gartner Stock Performance

Shares of NYSE IT opened at $482.18 on Friday. The stock has a market cap of $37.04 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 3.30 and a beta of 1.29. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $584.01. The company has a 50 day simple moving average of $509.85 and a two-hundred day simple moving average of $509.97. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.04 earnings per share. As a group, analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current year.

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.