Raymond James Financial Inc. Buys Shares of 341,561 Gartner, Inc. (NYSE:IT)

Raymond James Financial Inc. bought a new stake in Gartner, Inc. (NYSE:IT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 341,561 shares of the information technology services provider's stock, valued at approximately $165,476,000. Raymond James Financial Inc. owned approximately 0.44% of Gartner at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Promus Capital LLC bought a new position in Gartner during the fourth quarter worth $57,000. Arizona State Retirement System boosted its position in Gartner by 0.6% during the fourth quarter. Arizona State Retirement System now owns 22,382 shares of the information technology services provider's stock worth $10,843,000 after purchasing an additional 140 shares during the period. Aigen Investment Management LP boosted its position in Gartner by 1,159.5% during the fourth quarter. Aigen Investment Management LP now owns 5,126 shares of the information technology services provider's stock worth $2,483,000 after purchasing an additional 4,719 shares during the period. Proficio Capital Partners LLC bought a new position in Gartner during the fourth quarter worth $95,762,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Gartner by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 509,206 shares of the information technology services provider's stock worth $246,695,000 after purchasing an additional 19,195 shares during the period. 91.51% of the stock is owned by institutional investors.

Insider Buying and Selling at Gartner

In other news, SVP John J. Rinello sold 90 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares in the company, valued at approximately $1,728,932.09. The trade was a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eileen Serra sold 1,200 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the sale, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.60% of the company's stock.

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Gartner Price Performance

Gartner stock traded down $0.90 during midday trading on Friday, reaching $482.18. The company's stock had a trading volume of 566,090 shares, compared to its average volume of 489,266. Gartner, Inc. has a 52 week low of $411.15 and a 52 week high of $584.01. 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 business has a 50-day moving average price of $509.85 and a 200-day moving average price of $509.97. The stock has a market cap of $37.04 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT - Get Free Report) last released its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.22 by $2.23. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.69 billion. During the same quarter in the previous year, the business posted $3.04 earnings per share. The business's revenue for the quarter was up 8.1% on a year-over-year basis. On average, sell-side analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on IT shares. The Goldman Sachs Group reissued a "buy" rating on shares of Gartner in a report on Tuesday, February 4th. Barclays raised Gartner from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $525.00 to $600.00 in a report on Friday, January 10th. StockNews.com raised Gartner from a "hold" rating to a "buy" rating in a report on Wednesday. Morgan Stanley dropped their target price on Gartner from $564.00 to $555.00 and set an "equal weight" rating for the company in a report on Thursday, January 16th. Finally, Robert W. Baird lifted their target price on Gartner from $579.00 to $605.00 and gave the stock an "outperform" rating in a report on Wednesday, February 5th. 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 MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $552.63.

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.