Argent Capital Management LLC Grows Stock Holdings in Gartner, Inc. (NYSE:IT)

Argent Capital Management LLC increased its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 9.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,785 shares of the information technology services provider's stock after buying an additional 964 shares during the period. Argent Capital Management LLC's holdings in Gartner were worth $5,225,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Eastern Bank purchased a new stake in shares of Gartner during the third quarter worth about $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of Gartner during the third quarter worth about $44,000. True Wealth Design LLC boosted its holdings in shares of Gartner by 2,350.0% during the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider's stock worth $50,000 after purchasing an additional 94 shares during the period. Fortitude Family Office LLC boosted its holdings in shares of Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider's stock worth $53,000 after purchasing an additional 20 shares during the period. Finally, Asset Dedication LLC boosted its holdings in shares of Gartner by 46.5% during the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider's stock worth $75,000 after purchasing an additional 47 shares during the period. Hedge funds and other institutional investors own 91.51% of the company's stock.

Gartner Price Performance

Gartner stock traded up $2.97 during mid-day trading on Thursday, hitting $512.25. The stock had a trading volume of 354,381 shares, compared to its average volume of 416,740. The firm has a market capitalization of $39.51 billion, a P/E ratio of 37.78, a P/E/G ratio of 2.72 and a beta of 1.33. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. Gartner, Inc. has a one year low of $411.15 and a one year high of $559.00. The firm's 50 day moving average is $508.69 and its 200 day moving average is $497.40.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings results 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 net margin of 17.33% and a return on equity of 118.27%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the firm posted $2.56 EPS. Gartner's revenue for the quarter was up 5.4% compared to the same quarter last year. On average, sell-side analysts forecast that Gartner, Inc. will post 11.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Gartner

In related news, EVP William James Wartinbee III sold 189 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $523.54, for a total value of $98,949.06. Following the completion of the transaction, the executive vice president now owns 7,311 shares of the company's stock, valued at approximately $3,827,600.94. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James C. Smith sold 17,533 shares of the business's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $547.09, for a total value of $9,592,128.97. Following the sale, the director now directly owns 532,294 shares in the company, valued at $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. 3.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on IT shares. Robert W. Baird lifted their price objective on Gartner from $565.00 to $590.00 and gave the company an "outperform" rating in a research report on Wednesday, November 6th. StockNews.com cut Gartner from a "buy" rating to a "hold" rating in a research report on Tuesday. Barclays raised Gartner from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft boosted their price target on Gartner from $529.00 to $531.00 and gave the stock a "hold" rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company dropped their price target on Gartner from $470.00 to $460.00 and set an "underweight" rating on the stock in a research report on Friday, January 10th. 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. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $550.75.

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.