Prana Capital Management LP Takes $18.60 Million Position in Gartner, Inc. (NYSE:IT)

Prana Capital Management LP bought a new stake in Gartner, Inc. (NYSE:IT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 38,383 shares of the information technology services provider’s stock, valued at approximately $18,595,000.

Several other institutional investors also recently modified their holdings of the business. Cary Street Partners Financial LLC purchased a new stake in shares of Gartner during the fourth quarter worth $27,000. Kestra Investment Management LLC purchased a new stake in Gartner during the fourth quarter valued at about $29,000. Itau Unibanco Holding S.A. increased its holdings in shares of Gartner by 453.3% in the fourth quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider’s stock worth $40,000 after buying an additional 68 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Gartner in the fourth quarter worth about $49,000. Finally, Promus Capital LLC bought a new stake in shares of Gartner in the fourth quarter worth about $57,000. 91.51% of the stock is owned by institutional investors.

Gartner Price Performance

Shares of NYSE IT opened at $445.55 on Thursday. Gartner, Inc. has a twelve month low of $366.05 and a twelve month high of $584.01. The firm has a market cap of $34.23 billion, a P/E ratio of 27.79, a PEG ratio of 3.30 and a beta of 1.24. The company has a 50 day moving average of $421.67 and a 200 day moving average of $480.94. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.26. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the business earned $2.93 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, research analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Craig Safian sold 3,415 shares of the company’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $450.17, for a total value of $1,537,330.55. Following the completion of the transaction, the chief financial officer now owns 77,890 shares of the company’s stock, valued at $35,063,741.30. This represents a 4.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 transaction, the director now directly owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. The trade was a 42.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,463 shares of company stock worth $2,495,190 over the last quarter. 2.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Morgan Stanley cut their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Robert W. Baird cut their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Barclays dropped their price target on Gartner from $510.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Finally, The Goldman Sachs Group dropped their price target on Gartner from $622.00 to $535.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Gartner has an average rating of “Hold” and an average target price of $518.67.

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.