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

Lansing Street Advisors purchased a new position in shares of Gartner, Inc. (NYSE:IT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 458 shares of the information technology services provider’s stock, valued at approximately $222,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Czech National Bank raised its position in Gartner by 6.5% during 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 in the last quarter. Assetmark Inc. raised its position in Gartner by 70.0% during the third quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider’s stock worth $2,607,000 after acquiring an additional 2,118 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Gartner in the fourth quarter valued at about $366,000. ING Groep NV raised its position in shares of Gartner by 38.4% in 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 during the period. Finally, Conestoga Capital Advisors LLC raised its position in shares of Gartner by 1.5% in the fourth quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider’s stock valued at $15,322,000 after purchasing an additional 480 shares during the period. 91.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IT. Morgan Stanley dropped their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Robert W. Baird increased their price objective on shares of Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $552.63.

Gartner Trading Down 3.1 %

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

Gartner (NYSE:IT) last released its quarterly earnings results 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. The business had revenue of $1.72 billion for 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%. Gartner’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.04 earnings per share. As a group, sell-side analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insiders Place Their Bets

In other Gartner news, EVP William James Wartinbee III sold 189 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $523.54, for a total transaction of $98,949.06. Following the sale, the executive vice president now directly owns 7,311 shares in the company, valued at $3,827,600.94. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $47,745.90. Following the completion of the transaction, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,690 shares of company stock worth $2,981,025 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Gartner 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.