Legacy Capital Wealth Partners LLC Acquires Shares of 547 Gartner, Inc. (NYSE:IT)

Legacy Capital Wealth Partners LLC acquired a new position in Gartner, Inc. (NYSE:IT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 547 shares of the information technology services provider's stock, valued at approximately $265,000.

Several other hedge funds have also added to or reduced their stakes in IT. Eastern Bank bought a new stake in Gartner in the third quarter worth about $26,000. Ashton Thomas Securities LLC bought a new stake in Gartner in the third quarter worth about $44,000. True Wealth Design LLC increased its stake in shares of 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 worth $50,000 after purchasing an additional 94 shares in the last quarter. Fortitude Family Office LLC increased its stake in shares of Gartner by 23.8% in 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 in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Gartner in the third quarter worth about $77,000. Institutional investors own 91.51% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Gartner from $564.00 to $555.00 and set an "equal weight" rating for the company in a research note on Thursday, January 16th. StockNews.com upgraded shares of Gartner from a "hold" rating to a "buy" rating in a research note on Wednesday, February 12th. Wells Fargo & Company reduced their target price on shares of Gartner from $470.00 to $460.00 and set an "underweight" rating for the company in a research note on Friday, January 10th. 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 note on Wednesday, November 6th. Finally, Robert W. Baird lifted their target price on shares of Gartner from $579.00 to $605.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $552.63.

Gartner Price Performance

IT stock traded down $15.72 during mid-day trading on Friday, hitting $487.44. 522,715 shares of the stock were exchanged, compared to its average volume of 479,359. The stock has a market capitalization of $37.60 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 3.38 and a beta of 1.34. The business has a fifty day moving average price of $509.42 and a 200 day moving average price of $509.05. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $584.01.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The company's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.04 earnings per share. On average, sell-side analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Activity at Gartner

In other news, SVP John J. Rinello sold 90 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares of the company's stock, valued at $1,728,932.09. The trade was a 2.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James C. Smith sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $524.02, for a total value of $2,620,100.00. Following the completion of the sale, the director now directly owns 509,457 shares in the company, valued at approximately $266,965,657.14. This represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,690 shares of company stock worth $2,981,025 in the last 90 days. Company 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.