MGB Wealth Management LLC Buys Shares of 509 Gartner, Inc. (NYSE:IT)

MGB Wealth Management LLC purchased a new position in shares of Gartner, Inc. (NYSE:IT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 509 shares of the information technology services provider's stock, valued at approximately $247,000.

Other institutional investors have also modified their holdings of the company. Eastern Bank purchased a new position in shares of Gartner in the 3rd quarter valued at about $26,000. Ashton Thomas Securities LLC acquired a new position in Gartner during the third quarter worth $44,000. True Wealth Design LLC increased its stake 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 in the last quarter. Fortitude Family Office LLC raised its position in shares of Gartner by 23.8% during the 3rd 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 last quarter. Finally, Asset Dedication LLC raised 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 valued at $75,000 after acquiring an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Gartner Stock Down 0.4 %

Shares of NYSE:IT traded down $1.83 during trading hours on Monday, reaching $515.34. The stock had a trading volume of 353,808 shares, compared to its average volume of 480,360. The stock has a market capitalization of $39.75 billion, a price-to-earnings ratio of 32.15, a P/E/G ratio of 3.50 and a beta of 1.34. The firm's 50 day moving average is $510.09 and its 200-day moving average is $508.44. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $584.01. 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 (NYSE:IT - Get Free Report) last announced its quarterly 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 136.32% and a net margin of 20.00%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the company posted $3.04 earnings per share. The firm's quarterly revenue was up 8.1% compared to the same quarter last year. Research analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Activity at Gartner

In other news, Director James C. Smith sold 5,000 shares of the company's stock in a transaction dated Tuesday, November 26th. The shares were 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 of the company's stock, valued at approximately $266,965,657.14. This represents a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William James Wartinbee III sold 189 shares of the firm's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $523.54, for a total value of $98,949.06. Following the transaction, the executive vice president now directly owns 7,311 shares in the company, valued at approximately $3,827,600.94. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,690 shares of company stock valued at $2,981,025 in the last three months. 3.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on IT shares. Deutsche Bank Aktiengesellschaft increased their price objective on Gartner from $529.00 to $531.00 and gave the company a "hold" rating in a research note on Wednesday, November 6th. Morgan Stanley reduced their target price on shares of Gartner from $564.00 to $555.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 16th. Barclays raised shares of Gartner from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $525.00 to $600.00 in a research report on Friday, January 10th. Wells Fargo & Company cut their target price on Gartner from $470.00 to $460.00 and set an "underweight" rating on the stock in a research report on Friday, January 10th. Finally, StockNews.com raised Gartner from a "hold" rating to a "buy" rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target 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.