Gartner, Inc. (NYSE:IT) Stake Lifted by Empowered Funds LLC

Empowered Funds LLC lifted its stake in shares of Gartner, Inc. (NYSE:IT) by 37.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,537 shares of the information technology services provider’s stock after acquiring an additional 1,515 shares during the quarter. Empowered Funds LLC’s holdings in Gartner were worth $2,806,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Eastern Bank bought a new position in shares of Gartner during the 3rd quarter valued at about $26,000. Ashton Thomas Securities LLC acquired a new position in Gartner in the third quarter worth approximately $44,000. Crewe Advisors LLC increased its holdings in shares of Gartner by 223.3% in the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after buying an additional 67 shares in the last quarter. Fortitude Family Office LLC lifted its position in shares of 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 acquiring an additional 20 shares during the last quarter. Finally, Asset Dedication LLC boosted its stake in shares of Gartner by 46.5% during the 3rd quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock worth $75,000 after acquiring an additional 47 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on IT shares. Wells Fargo & Company upped their target price on Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. Bank of America upped their price objective on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted 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. Morgan Stanley upped their price target on shares of Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Finally, Barclays lifted their price objective on shares of Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $539.25.

Gartner Trading Down 0.6 %

Shares of NYSE:IT opened at $517.73 on Wednesday. The firm has a fifty day moving average of $519.24 and a two-hundred day moving average of $479.68. The company has a quick ratio of 1.02, a current 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 market capitalization of $39.93 billion, a P/E ratio of 38.18, a price-to-earnings-growth ratio of 3.27 and a beta of 1.32.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the firm earned $2.56 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities analysts expect that Gartner, Inc. will post 11.89 EPS for the current fiscal year.

Insider Activity at Gartner

In related news, EVP Akhil Jain sold 500 shares of Gartner stock in a transaction on Monday, September 9th. The shares were sold at an average price of $492.00, for a total value of $246,000.00. Following the completion of the sale, the executive vice president now owns 4,339 shares of the company’s stock, valued at approximately $2,134,788. The trade was a 10.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Yvonne Genovese sold 443 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $483.62, for a total transaction of $214,243.66. Following the transaction, the executive vice president now directly owns 1,959 shares in the company, valued at $947,411.58. The trade was a 18.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,172 shares of company stock valued at $38,023,255. 3.60% of the stock is owned by corporate insiders.

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.