MGB Wealth Management LLC Acquires Shares of 509 Gartner, Inc. (NYSE:IT)

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

Several other institutional investors have also modified their holdings of the company. Baron Wealth Management LLC increased its holdings in Gartner by 4.1% in the third quarter. Baron Wealth Management LLC now owns 481 shares of the information technology services provider’s stock valued at $244,000 after buying an additional 19 shares during the last quarter. Fortitude Family Office LLC increased its holdings in shares of 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 acquiring an additional 20 shares during the last quarter. Gilbert & Cook Inc. raised its position in shares of Gartner by 1.5% during the 4th 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 in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Gartner by 2.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 917 shares of the information technology services provider’s stock worth $444,000 after purchasing an additional 22 shares during the last quarter. Finally, Trust Point Inc. boosted its holdings in Gartner by 3.2% in the third quarter. Trust Point Inc. now owns 746 shares of the information technology services provider’s stock valued at $378,000 after purchasing an additional 23 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IT has been the topic of a number of research analyst reports. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a report on Wednesday. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. Wells Fargo & Company decreased their price objective on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Robert W. Baird lifted their target price on Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Finally, Morgan Stanley reduced their target price on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $552.63.

Gartner Price Performance

Shares of IT opened at $514.02 on Thursday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $584.01. The firm has a 50-day simple moving average of $510.12 and a 200-day simple moving average of $507.95. The company has a market capitalization of $39.65 billion, a price-to-earnings ratio of 32.07, a price-to-earnings-growth ratio of 3.50 and a beta of 1.34.

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

Insider Buying and Selling

In related news, EVP Claire Herkes sold 411 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total transaction of $214,229.64. Following the completion of the transaction, the executive vice president now directly owns 1,494 shares of the company’s stock, valued at $778,732.56. This represents a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction that occurred 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 directly owns 3,259 shares in the company, 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 5,690 shares of company stock valued at $2,981,025 over the last three months. 3.60% of the stock is currently owned by company insiders.

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.