Lansing Street Advisors Invests $222,000 in Gartner, Inc. (NYSE:IT)

Lansing Street Advisors bought a new position in Gartner, Inc. (NYSE:IT) in the fourth quarter, Holdings Channel.com reports. The firm bought 458 shares of the information technology services provider’s stock, valued at approximately $222,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Eastern Bank bought a new position in Gartner in the 3rd quarter valued at approximately $26,000. Kestra Investment Management LLC bought a new position in Gartner in the 4th quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new position in Gartner in the 3rd quarter valued at approximately $44,000. True Wealth Design LLC raised its holdings in Gartner by 2,350.0% in the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after buying an additional 94 shares during the last quarter. Finally, Fortitude Family Office LLC raised its holdings in Gartner by 23.8% in the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after buying an additional 20 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Transactions at Gartner

In related news, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James C. Smith sold 5,000 shares of Gartner stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $524.02, for a total transaction of $2,620,100.00. Following the completion of the sale, the director now directly owns 509,457 shares of the company’s stock, valued at approximately $266,965,657.14. The trade was a 0.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,690 shares of company stock valued at $2,981,025 in the last quarter. 3.60% of the stock is currently owned by company insiders.

Gartner Stock Performance

Shares of IT stock opened at $487.44 on Friday. The company has a market cap of $37.44 billion, a price-to-earnings ratio of 30.41, a price-to-earnings-growth ratio of 3.30 and a beta of 1.34. Gartner, Inc. has a 52 week low of $411.15 and a 52 week high of $584.01. 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 firm has a 50 day moving average of $509.42 and a 200-day moving average of $509.30.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, topping the consensus estimate of $3.22 by $2.23. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.04 EPS. On average, equities analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current year.

Analysts Set New Price Targets

IT has been the subject of a number of research reports. Robert W. Baird raised their price objective on shares of Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Wells Fargo & Company lowered their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. Morgan Stanley lowered their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Finally, Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $525.00 to $600.00 in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Gartner has an average rating of “Moderate Buy” and an average target price of $552.63.

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.