Ashton Thomas Securities LLC Purchases New Position in Gartner, Inc. (NYSE:IT)

Ashton Thomas Securities LLC acquired a new stake in Gartner, Inc. (NYSE:IT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 86 shares of the information technology services provider’s stock, valued at approximately $44,000.

A number of other hedge funds have also recently added to or reduced their stakes in IT. Atria Investments Inc lifted its stake in shares of Gartner by 2.2% in the 3rd quarter. Atria Investments Inc now owns 18,785 shares of the information technology services provider’s stock valued at $9,519,000 after acquiring an additional 412 shares during the last quarter. Bridges Investment Management Inc. acquired a new position in Gartner in the 3rd quarter worth about $221,000. Assetmark Inc. raised its position in Gartner by 70.0% in the third quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider’s stock valued at $2,607,000 after purchasing an additional 2,118 shares during the last quarter. Verdence Capital Advisors LLC acquired a new stake in shares of Gartner during the third quarter valued at about $226,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Gartner during the third quarter worth about $77,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Yvonne Genovese sold 443 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $483.62, for a total transaction of $214,243.66. Following the transaction, the executive vice president now owns 1,959 shares in the company, valued at approximately $947,411.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director James C. Smith sold 2,450 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $554.68, for a total transaction of $1,358,966.00. Following the completion of the sale, the director now directly owns 529,844 shares of the company’s stock, valued at $293,893,869.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Yvonne Genovese sold 443 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $483.62, for a total transaction of $214,243.66. Following the completion of the transaction, the executive vice president now directly owns 1,959 shares in the company, valued at approximately $947,411.58. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,172 shares of company stock worth $38,023,255. 3.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

IT has been the topic of a number of research reports. Barclays boosted their target price on shares of 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 price objective on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. UBS Group raised their target price on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Robert W. Baird upped their price target on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, BMO Capital Markets raised their price objective on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Gartner currently has an average rating of “Hold” and a consensus price target of $539.25.

Gartner Stock Performance

IT stock opened at $551.80 on Thursday. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $559.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The stock has a 50-day moving average price of $516.48 and a 200-day moving average price of $476.56. The firm has a market cap of $42.52 billion, a PE ratio of 40.69, a price-to-earnings-growth ratio of 3.44 and a beta of 1.32.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.05. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.56 earnings per share. As a group, equities research analysts expect that Gartner, Inc. will post 11.89 earnings per share 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.