Graham Capital Management L.P. Acquires New Holdings in Gartner, Inc. (NYSE:IT)

Graham Capital Management L.P. bought a new position in shares of Gartner, Inc. (NYSE:IT) in the fourth quarter, HoldingsChannel reports. The firm bought 8,590 shares of the information technology services provider’s stock, valued at approximately $4,162,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Focus Partners Wealth lifted its stake in Gartner by 5.0% in the 4th quarter. Focus Partners Wealth now owns 3,348 shares of the information technology services provider’s stock valued at $1,694,000 after buying an additional 159 shares in the last quarter. Fund 1 Investments LLC acquired a new position in shares of Gartner in the fourth quarter worth $212,000. Ensign Peak Advisors Inc lifted its position in shares of Gartner by 1.2% in the fourth quarter. Ensign Peak Advisors Inc now owns 31,927 shares of the information technology services provider’s stock valued at $15,468,000 after acquiring an additional 367 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Gartner by 10.8% during the fourth quarter. Deutsche Bank AG now owns 313,344 shares of the information technology services provider’s stock valued at $151,806,000 after acquiring an additional 30,425 shares during the last quarter. Finally, Cornerstone Select Advisors LLC purchased a new stake in Gartner during the 4th quarter worth about $247,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other news, EVP Robin B. Kranich sold 739 shares of Gartner stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $436.50, for a total transaction of $322,573.50. Following the sale, the executive vice president now directly owns 20,464 shares of the company’s stock, valued at approximately $8,932,536. The trade was a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John J. Rinello sold 109 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total value of $47,562.15. Following the completion of the transaction, the senior vice president now directly owns 3,280 shares of the company’s stock, valued at $1,431,228. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,138 shares of company stock valued at $1,005,606. Corporate insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Gartner from $500.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company reduced their price target on Gartner from $401.00 to $400.00 and set an “underweight” rating on the stock in a research note on Thursday, May 1st. Morgan Stanley decreased their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. The Goldman Sachs Group reduced their target price on Gartner from $622.00 to $535.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Barclays decreased their price target on Gartner from $510.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $518.67.

Gartner Stock Performance

Shares of IT stock opened at $432.12 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The company has a market cap of $33.19 billion, a PE ratio of 26.96, a P/E/G ratio of 3.30 and a beta of 1.24. The company’s fifty day simple moving average is $423.97 and its 200-day simple moving average is $482.39. Gartner, Inc. has a 52 week low of $366.05 and a 52 week high of $584.01.

Gartner (NYSE:IT) last released its quarterly earnings data 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. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company posted $2.93 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current 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.