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

ClearAlpha Technologies LP purchased a new stake in Gartner, Inc. (NYSE:IT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 911 shares of the information technology services provider’s stock, valued at approximately $462,000.

Several other hedge funds have also recently bought and sold shares of IT. Sustainable Growth Advisers LP purchased a new position in Gartner in the second quarter valued at about $266,541,000. Principal Financial Group Inc. raised its holdings in shares of Gartner by 22.0% during the 2nd quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock valued at $852,014,000 after buying an additional 341,911 shares during the period. Natixis Advisors LLC lifted its position in Gartner by 117.4% during the 2nd quarter. Natixis Advisors LLC now owns 200,097 shares of the information technology services provider’s stock worth $89,856,000 after acquiring an additional 108,061 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Gartner in the third quarter valued at $36,789,000. Finally, Mizuho Securities USA LLC grew its holdings in Gartner by 1,074.8% during the 3rd quarter. Mizuho Securities USA LLC now owns 70,312 shares of the information technology services provider’s stock valued at $35,631,000 after purchasing an additional 64,327 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Akhil Jain sold 500 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $492.00, for a total value of $246,000.00. Following the completion of the sale, the executive vice president now owns 4,339 shares of the company’s stock, valued at $2,134,788. This represents a 10.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James C. Smith sold 2,450 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $554.68, for a total transaction of $1,358,966.00. Following the completion of the transaction, the director now owns 529,844 shares of the company’s stock, valued at $293,893,869.92. This represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,149 shares of company stock worth $37,694,911. Insiders own 3.60% of the company’s stock.

Gartner Trading Down 0.3 %

NYSE:IT opened at $517.93 on Monday. The firm has a market capitalization of $39.95 billion, a P/E ratio of 38.20, a P/E/G ratio of 3.24 and a beta of 1.32. The business has a 50 day simple moving average of $521.01 and a 200 day simple moving average of $484.28. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $559.00.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the company posted $2.56 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts predict that Gartner, Inc. will post 11.89 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on IT shares. Robert W. Baird boosted their price objective on shares of Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Morgan Stanley increased their price target on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Barclays raised their price target on shares of Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company upped their price target on shares of 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 given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $539.25.

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.