Oppenheimer Asset Management Inc. Increases Stock Position in Gartner, Inc. (NYSE:IT)

Oppenheimer Asset Management Inc. boosted its stake in Gartner, Inc. (NYSE:IT) by 40.8% during the 2nd quarter, Holdings Channel reports. The firm owned 47,205 shares of the information technology services provider’s stock after buying an additional 13,667 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Gartner were worth $21,198,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. TCW Group Inc. lifted its stake in Gartner by 4.0% in the 4th quarter. TCW Group Inc. now owns 199,062 shares of the information technology services provider’s stock worth $89,800,000 after purchasing an additional 7,639 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Gartner by 11.4% during the 1st quarter. Russell Investments Group Ltd. now owns 25,063 shares of the information technology services provider’s stock valued at $11,987,000 after buying an additional 2,560 shares in the last quarter. Icon Wealth Advisors LLC purchased a new stake in shares of Gartner during the 4th quarter valued at about $2,093,000. Madison Asset Management LLC raised its position in shares of Gartner by 2.8% during the 4th quarter. Madison Asset Management LLC now owns 344,657 shares of the information technology services provider’s stock valued at $155,478,000 after buying an additional 9,538 shares in the last quarter. Finally, TFO Wealth Partners LLC raised its position in shares of Gartner by 3,456.6% during the 4th quarter. TFO Wealth Partners LLC now owns 2,703 shares of the information technology services provider’s stock valued at $1,219,000 after buying an additional 2,627 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Activity

In other Gartner news, EVP Alwyn Dawkins sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total value of $505,490.00. Following the completion of the sale, the executive vice president now directly owns 56,650 shares in the company, valued at $28,636,008.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Gartner news, EVP Yvonne Genovese sold 443 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $483.62, for a total value of $214,243.66. Following the completion of the sale, the executive vice president now directly owns 1,959 shares in the company, valued at $947,411.58. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Alwyn Dawkins sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total transaction of $505,490.00. Following the completion of the sale, the executive vice president now owns 56,650 shares of the company’s stock, valued at $28,636,008.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,626 shares of company stock worth $15,145,217. Corporate insiders own 3.60% of the company’s stock.

Gartner Price Performance

NYSE IT opened at $510.56 on Friday. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. The firm’s 50 day moving average price is $475.84 and its 200-day moving average price is $460.31. Gartner, Inc. has a 52-week low of $323.61 and a 52-week high of $510.98. The company has a market cap of $39.34 billion, a PE ratio of 50.80, a P/E/G ratio of 3.89 and a beta of 1.32.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the firm earned $2.85 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Sell-side analysts forecast that Gartner, Inc. will post 11.59 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Bank of America upped their target price on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. UBS Group upped their target price on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Robert W. Baird upped their price target on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company upgraded shares of Gartner to a “strong sell” rating in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $521.00.

About Gartner

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.