Proficio Capital Partners LLC Buys New Shares in Gartner, Inc. (NYSE:IT)

Proficio Capital Partners LLC acquired a new stake in shares of Gartner, Inc. (NYSE:IT) during the 4th quarter, Holdings Channel reports. The firm acquired 197,664 shares of the information technology services provider’s stock, valued at approximately $95,762,000.

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

Analysts Set New Price Targets

IT has been the subject of several recent research reports. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird boosted their target price on shares of Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. Morgan Stanley decreased 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 report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $552.63.

Gartner Trading Down 1.4 %

Shares of IT stock opened at $491.38 on Friday. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $584.01. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The company has a 50-day simple moving average of $509.78 and a two-hundred day simple moving average of $509.80. The company has a market capitalization of $37.75 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 3.30 and a beta of 1.34.

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

Insider Activity

In other news, Director Eileen Serra sold 1,200 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 1,627 shares of the company’s stock, valued at $796,855.79. This represents a 42.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John J. Rinello sold 90 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,479 shares of company stock valued at $734,419 in the last three months. 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.