MGB Wealth Management LLC Acquires New Position in Gartner, Inc. (NYSE:IT)

MGB Wealth Management LLC acquired a new position in shares of Gartner, Inc. (NYSE:IT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 509 shares of the information technology services provider’s stock, valued at approximately $247,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its holdings in Gartner by 208.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 272,267 shares of the information technology services provider’s stock valued at $131,905,000 after purchasing an additional 183,974 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Gartner in the 3rd quarter valued at about $70,955,000. Principal Financial Group Inc. increased its holdings in Gartner by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock valued at $1,014,099,000 after acquiring an additional 103,814 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Gartner during the 3rd quarter valued at about $36,789,000. Finally, JPMorgan Chase & Co. raised its position in Gartner by 7.3% during the third quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock worth $525,272,000 after acquiring an additional 70,236 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Stock Performance

NYSE IT opened at $514.02 on Thursday. The business’s 50-day moving average price is $510.12 and its 200 day moving average price is $507.95. 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 twelve month low of $411.15 and a twelve month high of $584.01. The company has a market capitalization of $39.65 billion, a PE ratio of 32.07, a price-to-earnings-growth ratio of 3.50 and a beta of 1.34.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, topping the consensus estimate of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 136.32%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the prior year, the firm posted $3.04 EPS. The company’s revenue was up 8.1% on a year-over-year basis. On average, research analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on IT. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $525.00 to $600.00 in a report on Friday, January 10th. Robert W. Baird boosted their price target on Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Morgan Stanley reduced 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. Finally, Wells Fargo & Company dropped their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $552.63.

Insider Buying and Selling at Gartner

In related news, EVP Claire Herkes sold 411 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total value of $214,229.64. Following the transaction, the executive vice president now owns 1,494 shares in the company, valued at approximately $778,732.56. This trade represents a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James C. Smith sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $524.02, for a total transaction of $2,620,100.00. Following the sale, the director now owns 509,457 shares of the company’s stock, valued at approximately $266,965,657.14. This represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,690 shares of company stock worth $2,981,025 in the last quarter. 3.60% of the stock is owned by insiders.

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.