5,991 Shares in Gartner, Inc. (NYSE:IT) Bought by AlphaQuest LLC

AlphaQuest LLC acquired a new stake in shares of Gartner, Inc. (NYSE:IT) during the 4th quarter, HoldingsChannel reports. The fund acquired 5,991 shares of the information technology services provider’s stock, valued at approximately $2,902,000. Gartner accounts for approximately 0.4% of AlphaQuest LLC’s portfolio, making the stock its 18th biggest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IT. Kestra Investment Management LLC acquired a new position in shares of Gartner during the 4th quarter worth about $29,000. Ashton Thomas Securities LLC purchased a new stake in Gartner during the 3rd quarter worth approximately $44,000. SBI Securities Co. Ltd. acquired a new position in shares of Gartner during the fourth quarter valued at approximately $49,000. True Wealth Design LLC lifted its position in shares of Gartner by 2,350.0% in the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after acquiring an additional 94 shares in the last quarter. Finally, Promus Capital LLC purchased a new position in shares of Gartner in the fourth quarter valued at approximately $57,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. The trade was a 2.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the transaction, the director now directly owns 1,627 shares of the company’s stock, valued at $796,855.79. The trade was a 42.45 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on IT shares. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday. Wells Fargo & Company dropped their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. Morgan Stanley decreased 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. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Finally, Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Gartner presently has a consensus rating of “Moderate Buy” and an average price target of $552.63.

Gartner Stock Performance

NYSE:IT opened at $482.18 on Friday. The company’s 50-day moving average is $509.85 and its two-hundred day moving average is $509.97. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $584.01. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market capitalization of $37.04 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last released its quarterly earnings data 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. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.04 earnings per share. Analysts forecast that Gartner, Inc. will post 12.5 EPS for the current 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.