Smartleaf Asset Management LLC Grows Stake in Gartner, Inc. (NYSE:IT)

Smartleaf Asset Management LLC raised its stake in Gartner, Inc. (NYSE:IT) by 255.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,219 shares of the information technology services provider’s stock after acquiring an additional 876 shares during the period. Smartleaf Asset Management LLC’s holdings in Gartner were worth $592,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Czech National Bank grew its stake in shares of Gartner by 6.5% in the fourth quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock worth $8,103,000 after acquiring an additional 1,028 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Gartner by 70.0% during the third quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider’s stock valued at $2,607,000 after purchasing an additional 2,118 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Gartner during the fourth quarter valued at $366,000. D.A. Davidson & CO. lifted its holdings in shares of Gartner by 2.6% during the fourth quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider’s stock valued at $551,000 after purchasing an additional 29 shares in the last quarter. Finally, ING Groep NV lifted its holdings in shares of Gartner by 38.4% during the third quarter. ING Groep NV now owns 10,306 shares of the information technology services provider’s stock valued at $5,223,000 after purchasing an additional 2,860 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Stock Down 1.6 %

IT stock opened at $490.33 on Tuesday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The business’s 50-day moving average is $510.13 and its two-hundred day moving average is $510.27. The company has a market cap of $37.67 billion, a price-to-earnings ratio of 30.59, a P/E/G ratio of 3.30 and a beta of 1.34. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $584.01.

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

Insiders Place Their Bets

In related news, Director Eileen Serra sold 1,200 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the sale, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP John J. Rinello sold 90 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,479 shares of company stock worth $734,419 over the last quarter. 3.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IT. Wells Fargo & Company lowered their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a report on Friday, January 10th. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $525.00 to $600.00 in a report on Friday, January 10th. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Morgan Stanley lowered their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. 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 company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $552.63.

About Gartner

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.