Impact Capital Partners LLC Buys New Position in Gartner, Inc. (NYSE:IT)

Impact Capital Partners LLC bought a new position in shares of Gartner, Inc. (NYSE:IT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 740 shares of the information technology services provider's stock, valued at approximately $359,000.

Other institutional investors have also made changes to their positions in the company. Kestra Investment Management LLC acquired a new stake in Gartner in the fourth quarter valued at $29,000. Ashton Thomas Securities LLC acquired a new stake in Gartner in the third quarter valued at $44,000. SBI Securities Co. Ltd. acquired a new stake in Gartner in the fourth quarter valued at $49,000. True Wealth Design LLC raised its holdings in 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 acquired a new stake in Gartner in the fourth quarter valued at $57,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IT has been the topic of several recent analyst reports. StockNews.com raised shares of Gartner from a "hold" rating to a "buy" rating in a report on Wednesday, March 5th. Wells Fargo & Company cut their price target on shares of Gartner from $470.00 to $460.00 and set an "underweight" rating on the stock in a report on Friday, January 10th. Robert W. Baird increased their target price on shares of Gartner from $579.00 to $605.00 and gave the stock an "outperform" rating in a report on Wednesday, February 5th. Barclays raised shares of Gartner from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $525.00 to $600.00 in a report on Friday, January 10th. Finally, Morgan Stanley dropped their target price on shares of Gartner from $564.00 to $555.00 and set an "equal weight" rating on the stock in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $552.63.

Remove Ads

Gartner Stock Performance

Shares of NYSE:IT traded down $14.95 on Tuesday, reaching $446.75. 1,519,793 shares of the company's stock were exchanged, compared to its average volume of 510,501. The firm has a market capitalization of $34.32 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 3.30 and a beta of 1.29. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $584.01. The business's 50-day moving average is $506.91 and its two-hundred day moving average is $509.47. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, topping the consensus estimate of $3.22 by $2.23. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.04 earnings per share. As a group, equities research analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Transactions at Gartner

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

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.