Legacy Private Trust Co. Has $220,000 Position in Gartner, Inc. (NYSE:IT)

Legacy Private Trust Co. increased its position in shares of Gartner, Inc. (NYSE:IT) by 13.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 455 shares of the information technology services provider’s stock after buying an additional 55 shares during the quarter. Legacy Private Trust Co.’s holdings in Gartner were worth $220,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in shares of Gartner by 43.3% during the 2nd quarter. Victory Capital Management Inc. now owns 59,140 shares of the information technology services provider’s stock worth $26,557,000 after purchasing an additional 17,874 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Gartner during the second quarter worth $650,000. Caprock Group LLC increased its holdings in Gartner by 86.4% in the 2nd quarter. Caprock Group LLC now owns 1,847 shares of the information technology services provider’s stock valued at $829,000 after buying an additional 856 shares during the period. Ballentine Partners LLC acquired a new position in shares of Gartner in the 2nd quarter valued at $214,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Gartner during the 2nd quarter worth about $143,000. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on IT shares. Morgan Stanley upped their target price on shares of Gartner from $560.00 to $564.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Barclays increased their target price on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Robert W. Baird boosted their price target on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Wells Fargo & Company increased their price objective on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research note 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, Gartner currently has an average rating of “Hold” and a consensus target price of $543.75.

Insider Buying and Selling

In related news, EVP Claire Herkes sold 411 shares of Gartner stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total value of $214,229.64. Following the completion of the sale, the executive vice president now directly owns 1,494 shares in the company, valued at $778,732.56. This trade represents a 21.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James C. Smith sold 17,533 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $547.09, for a total transaction of $9,592,128.97. Following the transaction, the director now owns 532,294 shares in the company, valued at approximately $291,212,724.46. The trade was a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,583 shares of company stock worth $19,241,974 in the last quarter. Insiders own 3.60% of the company’s stock.

Gartner Stock Performance

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

Gartner (NYSE:IT) last posted 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 net margin of 17.33% and a return on equity of 118.27%. 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 company posted $2.56 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that Gartner, Inc. will post 11.87 EPS 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.