Quartz Partners LLC Acquires 350 Shares of Gartner, Inc. (NYSE:IT)

Quartz Partners LLC lifted its holdings in Gartner, Inc. (NYSE:IT) by 8.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,629 shares of the information technology services provider’s stock after buying an additional 350 shares during the period. Gartner comprises 1.4% of Quartz Partners LLC’s holdings, making the stock its 17th largest holding. Quartz Partners LLC’s holdings in Gartner were worth $2,243,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in IT. Eastern Bank bought a new stake in Gartner in the third quarter worth $26,000. Kestra Investment Management LLC purchased a new stake in shares of Gartner in the fourth quarter valued at $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Gartner in the 3rd quarter worth about $44,000. True Wealth Design LLC boosted its stake in shares of Gartner by 2,350.0% during the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after purchasing an additional 94 shares during the period. Finally, Fortitude Family Office LLC grew its holdings in Gartner by 23.8% during the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after purchasing an additional 20 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IT has been the topic of a number of analyst reports. Wells Fargo & Company cut their target price on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft increased their target price on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Robert W. Baird boosted their target price on shares of Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Finally, Morgan Stanley reduced their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Gartner presently has a consensus rating of “Moderate Buy” and an average target price of $552.63.

Insider Activity

In other Gartner news, EVP William James Wartinbee III sold 189 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $523.54, for a total transaction of $98,949.06. Following the completion of the sale, the executive vice president now directly owns 7,311 shares of the company’s stock, valued at approximately $3,827,600.94. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares in the company, 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. Over the last ninety days, insiders have sold 5,690 shares of company stock worth $2,981,025. Corporate insiders own 3.60% of the company’s stock.

Gartner Stock Performance

Shares of Gartner stock opened at $487.44 on Monday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock’s fifty day moving average price is $509.42 and its 200-day moving average price is $509.60. The firm has a market cap of $37.44 billion, a P/E ratio of 30.41, a P/E/G ratio of 3.30 and a beta of 1.34. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $584.01.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the firm posted $3.04 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

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.