Icon Wealth Advisors LLC Buys 23,589 Shares of Gartner, Inc. (NYSE:IT)

Icon Wealth Advisors LLC increased its stake in shares of Gartner, Inc. (NYSE:IT) by 498.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,322 shares of the information technology services provider’s stock after buying an additional 23,589 shares during the quarter. Gartner comprises approximately 0.5% of Icon Wealth Advisors LLC’s investment portfolio, making the stock its 23rd biggest position. Icon Wealth Advisors LLC’s holdings in Gartner were worth $14,352,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Trust N.A. raised its position in shares of Gartner by 2.9% in the 3rd quarter. Raymond James Trust N.A. now owns 1,454 shares of the information technology services provider’s stock valued at $737,000 after buying an additional 41 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Gartner by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 490,011 shares of the information technology services provider’s stock valued at $248,318,000 after acquiring an additional 3,691 shares during the last quarter. Banco Santander S.A. bought a new stake in Gartner during the third quarter worth $646,000. Landscape Capital Management L.L.C. bought a new stake in Gartner during the third quarter worth $422,000. Finally, Citizens Financial Group Inc. RI boosted its holdings in shares of Gartner by 20.2% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 947 shares of the information technology services provider’s stock valued at $480,000 after purchasing an additional 159 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Activity

In related news, EVP Yvonne Genovese sold 443 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 1,959 shares in the company, valued at $947,411.58. The trade was a 18.44 % 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 Akhil Jain sold 500 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $492.00, for a total transaction of $246,000.00. Following the sale, the executive vice president now directly owns 4,339 shares in the company, valued at $2,134,788. This trade represents a 10.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,172 shares of company stock valued at $38,023,255. Company insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on IT. Barclays boosted their price target on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Bank of America increased their target price on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Robert W. Baird lifted their price target on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, UBS Group raised 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $539.25.

Gartner Trading Up 0.3 %

Shares of NYSE IT opened at $519.54 on Friday. The firm has a 50 day moving average price of $519.61 and a two-hundred day moving average price of $479.95. The stock has a market cap of $40.07 billion, a P/E ratio of 38.31, a price-to-earnings-growth ratio of 3.23 and a beta of 1.32. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $559.00. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. Gartner’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.56 earnings per share. As a group, equities analysts forecast that Gartner, Inc. will post 11.89 EPS for the current year.

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.