Wedge Capital Management L L P NC Boosts Holdings in Gartner, Inc. (NYSE:IT)

Wedge Capital Management L L P NC boosted its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 11.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,107 shares of the information technology services provider's stock after purchasing an additional 13,286 shares during the quarter. Gartner comprises approximately 1.2% of Wedge Capital Management L L P NC's investment portfolio, making the stock its 16th biggest position. Wedge Capital Management L L P NC owned about 0.17% of Gartner worth $64,002,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of IT. Eastern Bank acquired a new stake in shares of Gartner during the third quarter worth $26,000. Ashton Thomas Securities LLC bought a new stake in Gartner in the third quarter worth about $44,000. True Wealth Design LLC raised its position in 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 acquiring an additional 94 shares during the period. 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, Asset Dedication LLC increased its stake in shares of Gartner by 46.5% in 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 in the last quarter. Institutional investors own 91.51% of the company's stock.

Gartner Stock Performance

NYSE IT traded up $4.28 on Friday, reaching $516.34. 971,178 shares of the stock were exchanged, compared to its average volume of 357,370. Gartner, Inc. has a one year low of $411.15 and a one year high of $559.00. The firm has a market capitalization of $39.83 billion, a PE ratio of 38.08, a PEG ratio of 2.72 and a beta of 1.33. The company's 50-day simple moving average is $507.49 and its two-hundred day simple moving average is $498.03. 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 (NYSE:IT - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the firm posted $2.56 EPS. The company's revenue was up 5.4% on a year-over-year basis. Analysts expect that Gartner, Inc. will post 11.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. StockNews.com cut shares of Gartner from a "buy" rating to a "hold" rating in a research note on Tuesday. Morgan Stanley decreased their price objective on shares of Gartner from $564.00 to $555.00 and set an "equal weight" rating for the company in a report on Thursday. Robert W. Baird increased their price objective on shares of Gartner from $565.00 to $590.00 and gave the company an "outperform" rating in a research report on Wednesday, November 6th. Barclays raised shares of Gartner from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $525.00 to $600.00 in a research report on Friday, January 10th. Finally, Wells Fargo & Company lowered their target price on shares of Gartner from $470.00 to $460.00 and set an "underweight" rating on the stock in a research note 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 stock. According to MarketBeat.com, Gartner presently has an average rating of "Hold" and an average target price of $550.75.

Insider Buying and Selling at Gartner

In related news, EVP William James Wartinbee III sold 189 shares of the firm's stock in a transaction on 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 directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Claire Herkes sold 411 shares of the firm's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total transaction of $214,229.64. Following the completion of the transaction, the executive vice president now directly owns 1,494 shares of the company's stock, valued at approximately $778,732.56. This trade represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,583 shares of company stock valued at $19,241,974 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

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.