Strive Asset Management LLC Buys New Stake in Gartner, Inc. (NYSE:IT)

Strive Asset Management LLC bought a new stake in shares of Gartner, Inc. (NYSE:IT) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 676 shares of the information technology services provider’s stock, valued at approximately $328,000.

A number of other institutional investors also recently added to or reduced their stakes in IT. Cary Street Partners Financial LLC bought a new stake in shares of Gartner during the fourth quarter valued at about $27,000. Kestra Investment Management LLC bought a new position in Gartner in the 4th quarter valued at about $29,000. Itau Unibanco Holding S.A. increased its stake in Gartner by 453.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider’s stock valued at $40,000 after buying an additional 68 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Gartner during the 4th quarter worth about $49,000. Finally, Promus Capital LLC acquired a new stake in shares of Gartner in the 4th quarter worth approximately $57,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Ratings Changes

IT has been the topic of a number of research analyst reports. Barclays lowered their price objective on shares of Gartner from $510.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. The Goldman Sachs Group lowered 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. UBS Group boosted their price objective on Gartner from $500.00 to $525.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Finally, Robert W. Baird lowered their target price on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. One equities 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. Based on data from MarketBeat.com, Gartner currently has an average rating of “Hold” and a consensus price target of $518.67.

Gartner Stock Performance

IT opened at $447.88 on Friday. The firm has a market cap of $34.41 billion, a PE ratio of 27.94, a P/E/G ratio of 3.30 and a beta of 1.24. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The business has a fifty day simple moving average of $420.79 and a 200-day simple moving average of $479.72. Gartner, Inc. has a fifty-two week low of $366.05 and a fifty-two week high of $584.01.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, beating the consensus estimate of $2.72 by $0.26. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. Gartner’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.93 earnings per share. As a group, equities analysts predict that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Transactions at Gartner

In related news, Director Eileen Serra sold 1,200 shares of the stock in a transaction dated Monday, February 24th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John J. Rinello sold 109 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $436.35, for a total value of $47,562.15. Following the sale, the senior vice president now owns 3,280 shares of the company’s stock, valued at $1,431,228. The trade was a 3.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,001 shares of company stock valued at $2,736,801 over the last ninety days. Corporate insiders own 2.30% of the company’s stock.

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.