Legacy Private Trust Co. Buys 55 Shares of Gartner, Inc. (NYSE:IT)

Legacy Private Trust Co. grew its stake in Gartner, Inc. (NYSE:IT) by 13.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 455 shares of the information technology services provider’s stock after acquiring an additional 55 shares during the period. Legacy Private Trust Co.’s holdings in Gartner were worth $220,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of IT. Choreo LLC bought a new stake in Gartner in the second quarter valued at approximately $722,000. Victory Capital Management Inc. increased its position in shares of Gartner by 43.3% in the 2nd quarter. Victory Capital Management Inc. now owns 59,140 shares of the information technology services provider’s stock valued at $26,557,000 after buying an additional 17,874 shares in the last quarter. Assetmark Inc. raised its stake in Gartner by 70.0% during the 3rd quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider’s stock worth $2,607,000 after buying an additional 2,118 shares during the period. Federated Hermes Inc. lifted its holdings in Gartner by 9.0% during the second quarter. Federated Hermes Inc. now owns 59,393 shares of the information technology services provider’s stock worth $26,671,000 after acquiring an additional 4,887 shares in the last quarter. Finally, ING Groep NV grew its stake in Gartner by 38.4% in the third quarter. ING Groep NV now owns 10,306 shares of the information technology services provider’s stock valued at $5,223,000 after acquiring an additional 2,860 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Stock Performance

Shares of IT opened at $494.49 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $559.00. The firm has a fifty day simple moving average of $510.68 and a 200 day simple moving average of $495.70. The stock has a market capitalization of $38.14 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 3.18 and a beta of 1.33.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the company earned $2.56 EPS. Gartner’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts forecast that Gartner, Inc. will post 11.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on IT shares. Barclays raised their price target on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Wells Fargo & Company upped their price target on shares of Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. Morgan Stanley raised their price objective on shares of Gartner from $560.00 to $564.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Gartner presently has a consensus rating of “Hold” and a consensus price target of $543.75.

Insiders Place Their Bets

In other news, EVP Claire Herkes sold 411 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total value of $214,229.64. Following the transaction, the executive vice president now owns 1,494 shares of the company’s stock, valued at approximately $778,732.56. This represents a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William James Wartinbee III sold 189 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $523.54, for a total value of $98,949.06. Following the transaction, the executive vice president now owns 7,311 shares in the company, valued at approximately $3,827,600.94. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,583 shares of company stock valued at $19,241,974 in the last 90 days. 3.60% of the stock is currently owned by insiders.

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.