Permanent Capital Management LP Invests $361,000 in Gartner, Inc. (NYSE:IT)

Permanent Capital Management LP acquired a new stake in shares of Gartner, Inc. (NYSE:IT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 745 shares of the information technology services provider's stock, valued at approximately $361,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Kestra Investment Management LLC bought a new stake in Gartner during the 4th quarter valued at $29,000. Ashton Thomas Securities LLC acquired a new stake in Gartner in the third quarter valued at approximately $44,000. True Wealth Design LLC grew its stake in Gartner by 2,350.0% during the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider's stock worth $50,000 after buying an additional 94 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Gartner during the 4th quarter worth approximately $49,000. Finally, Promus Capital LLC purchased a new position in Gartner in the 4th quarter worth $57,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Gartner Price Performance

Gartner stock traded down $4.98 during midday trading on Tuesday, reaching $466.63. The company had a trading volume of 470,133 shares, compared to its average volume of 372,143. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $584.01. The firm's fifty day simple moving average is $509.57 and its 200-day simple moving average is $510.31. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $35.85 billion, a P/E ratio of 29.11, a P/E/G ratio of 3.30 and a beta of 1.29.

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Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $1.69 billion. During the same period in the previous year, the company posted $3.04 earnings per share. The business's revenue was up 8.1% on a year-over-year basis. As a group, equities analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current year.

Insiders Place Their Bets

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 transaction of $47,745.90. Following the transaction, the senior vice president now directly owns 3,259 shares in the company, 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 at this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the sale, the director now directly owns 1,627 shares of the company's stock, valued at approximately $796,855.79. This represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on IT shares. StockNews.com raised Gartner from a "hold" rating to a "buy" rating in a report on Wednesday, March 5th. The Goldman Sachs Group reissued a "buy" rating on shares of Gartner in a report on Tuesday, February 4th. Robert W. Baird lifted their price objective on shares of Gartner from $579.00 to $605.00 and gave the company an "outperform" rating in a report on Wednesday, February 5th. Wells Fargo & Company decreased their price objective on shares of Gartner from $470.00 to $460.00 and set an "underweight" rating for the company in a research report on Friday, January 10th. Finally, Barclays upgraded Gartner from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $525.00 to $600.00 in a research report on Friday, January 10th. One equities 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 company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.