Paralel Advisors LLC Grows Holdings in Gartner, Inc. (NYSE:IT)

Paralel Advisors LLC raised its position in Gartner, Inc. (NYSE:IT) by 10.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,269 shares of the information technology services provider’s stock after purchasing an additional 480 shares during the period. Paralel Advisors LLC’s holdings in Gartner were worth $2,553,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Howard Capital Management Inc. increased its stake in shares of Gartner by 4.4% during the fourth quarter. Howard Capital Management Inc. now owns 452 shares of the information technology services provider’s stock worth $219,000 after purchasing an additional 19 shares in the last quarter. Gilbert & Cook Inc. boosted its position in Gartner by 1.5% during the fourth quarter. Gilbert & Cook Inc. now owns 1,364 shares of the information technology services provider’s stock worth $661,000 after acquiring an additional 20 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in Gartner by 2.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 826 shares of the information technology services provider’s stock valued at $400,000 after purchasing an additional 20 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Gartner by 2.9% in the 4th quarter. Parallel Advisors LLC now owns 737 shares of the information technology services provider’s stock valued at $357,000 after purchasing an additional 21 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in Gartner by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 917 shares of the information technology services provider’s stock valued at $444,000 after purchasing an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Stock Performance

Shares of IT stock traded down $13.72 during trading hours on Thursday, reaching $392.41. The stock had a trading volume of 12,341 shares, compared to its average volume of 445,310. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. Gartner, Inc. has a twelve month low of $366.05 and a twelve month high of $584.01. The firm has a 50-day simple moving average of $467.43 and a 200-day simple moving average of $497.94. The firm has a market capitalization of $30.14 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 3.30 and a beta of 1.26.

Gartner (NYSE:IT) last announced its earnings results 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. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period last year, the company posted $3.04 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, equities analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insider Transactions at Gartner

In related news, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eileen Serra sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the transaction, the director now directly owns 1,627 shares in the company, valued at approximately $796,855.79. The trade was a 42.45 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on IT shares. Robert W. Baird cut their target price on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Barclays cut their target price on shares of Gartner from $600.00 to $510.00 and set an “overweight” rating on the stock in a research note on Friday, April 4th. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. UBS Group cut their target price on shares of Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $518.00.

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.