SVB Wealth LLC Makes New $3.44 Million Investment in Gartner, Inc. (NYSE:IT)

SVB Wealth LLC purchased a new position in Gartner, Inc. (NYSE:IT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,108 shares of the information technology services provider's stock, valued at approximately $3,444,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp increased its stake in shares of Gartner by 1.1% in the third quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider's stock worth $1,650,697,000 after buying an additional 36,258 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Gartner by 1.9% in the third quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider's stock worth $1,020,378,000 after buying an additional 36,698 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Gartner by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider's stock worth $975,141,000 after buying an additional 11,657 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Gartner by 7.3% in the third quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider's stock worth $525,272,000 after buying an additional 70,236 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Gartner by 3.3% in the third quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider's stock worth $422,678,000 after buying an additional 25,315 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

Wall Street Analyst Weigh In

IT has been the subject of a number of research reports. StockNews.com downgraded shares of Gartner from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Robert W. Baird lifted their price objective on shares of Gartner from $579.00 to $605.00 and gave the stock an "outperform" rating in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Gartner from $529.00 to $531.00 and gave the stock a "hold" rating in a report on Wednesday, November 6th. 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 report on Friday, January 10th. Finally, Barclays raised shares of Gartner from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $525.00 to $600.00 in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $552.63.

Insider Activity

In related news, Director Eileen Serra sold 1,200 shares of the company's stock in a transaction dated 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 owns 1,627 shares of the company's stock, valued at $796,855.79. This represents a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP William James Wartinbee III sold 189 shares of the company's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $523.54, for a total transaction of $98,949.06. Following the completion of the sale, the executive vice president now directly owns 7,311 shares of the company's stock, valued at $3,827,600.94. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,479 shares of company stock valued at $734,419. 3.60% of the stock is currently owned by company insiders.

Gartner Stock Performance

Shares of IT traded down $7.99 during midday trading on Monday, hitting $490.33. 512,620 shares of the stock traded hands, compared to its average volume of 481,336. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $584.01. The firm has a market capitalization of $37.67 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 3.30 and a beta of 1.34. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The business's 50 day moving average price is $510.13 and its two-hundred day moving average price is $510.27.

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 the consensus estimate of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the previous year, the company posted $3.04 earnings per share. The company's revenue for the quarter was up 8.1% compared to the same quarter last year. Equities research analysts predict that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Gartner Company 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.