ClearAlpha Technologies LP Invests $462,000 in Gartner, Inc. (NYSE:IT)

ClearAlpha Technologies LP bought a new stake in shares of Gartner, Inc. (NYSE:IT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 911 shares of the information technology services provider’s stock, valued at approximately $462,000.

A number of other hedge funds have also recently bought and sold shares of IT. Eastern Bank acquired a new position in shares of Gartner in the 3rd quarter worth approximately $26,000. Ashton Thomas Securities LLC acquired a new position in Gartner in the third quarter worth approximately $44,000. Crewe Advisors LLC increased its holdings in shares of Gartner by 223.3% in the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after buying an additional 67 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Gartner by 2,350.0% during the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after acquiring an additional 94 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its stake in shares of Gartner by 23.8% during the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after acquiring an additional 20 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Gartner

In other news, Director James C. Smith sold 2,128 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $500.15, for a total transaction of $1,064,319.20. Following the completion of the sale, the director now owns 572,090 shares in the company, valued at approximately $286,130,813.50. This represents a 0.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eugene A. Hall sold 34,060 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total value of $17,213,924.00. Following the completion of the transaction, the chief executive officer now directly owns 1,143,401 shares in the company, valued at $577,874,865.40. The trade was a 2.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,149 shares of company stock valued at $37,694,911. 3.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IT. Robert W. Baird boosted their target price on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Barclays upped their price objective on shares of Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley lifted their target price on shares of Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company increased their target price on Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Gartner presently has an average rating of “Hold” and an average price target of $539.25.

Gartner Trading Down 0.3 %

NYSE IT opened at $517.93 on Monday. 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, Inc. has a 1-year low of $411.15 and a 1-year high of $559.00. The firm’s fifty day simple moving average is $521.01 and its 200-day simple moving average is $484.28. The company has a market capitalization of $39.95 billion, a PE ratio of 38.20, a price-to-earnings-growth ratio of 3.24 and a beta of 1.32.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.56 EPS. As a group, sell-side analysts anticipate that Gartner, Inc. will post 11.89 earnings per share for the current fiscal year.

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.