Occudo Quantitative Strategies LP Purchases New Shares in Gartner, Inc. (NYSE:IT)

Occudo Quantitative Strategies LP purchased a new stake in Gartner, Inc. (NYSE:IT) during the 4th quarter, HoldingsChannel reports. The firm purchased 7,342 shares of the information technology services provider’s stock, valued at approximately $3,557,000. Gartner comprises approximately 0.6% of Occudo Quantitative Strategies LP’s investment portfolio, making the stock its 24th biggest holding.

Other large investors have also added to or reduced their stakes in the company. Cary Street Partners Financial LLC bought a new stake in shares of Gartner during the 4th quarter valued at about $27,000. Kestra Investment Management LLC bought a new position in shares of Gartner during the 4th quarter valued at approximately $29,000. Itau Unibanco Holding S.A. raised its holdings in Gartner by 453.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider’s stock valued at $40,000 after buying an additional 68 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Gartner during the 4th quarter valued at $49,000. Finally, Promus Capital LLC purchased a new stake in Gartner during the 4th quarter valued at $57,000. Institutional investors own 91.51% of the company’s stock.

Gartner Stock Up 3.3%

Shares of IT opened at $446.76 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. Gartner, Inc. has a one year low of $366.05 and a one year high of $584.01. The stock has a market capitalization of $34.32 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 3.30 and a beta of 1.24. The stock has a 50 day moving average price of $423.10 and a 200 day moving average price of $481.41.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.26. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.93 earnings per share. Equities research analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IT has been the topic of a number of recent analyst reports. Morgan Stanley reduced their target price on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Robert W. Baird cut their price target on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Barclays dropped their price objective on Gartner from $510.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. The Goldman Sachs Group dropped their price objective on Gartner from $622.00 to $535.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Finally, UBS Group raised their price objective on Gartner from $500.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $518.67.

Insider Activity

In related news, SVP John J. Rinello sold 109 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $436.35, for a total value of $47,562.15. Following the sale, the senior vice president now owns 3,280 shares in the company, valued at approximately $1,431,228. The trade was a 3.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the sale, the director now owns 1,627 shares in the company, valued at $796,855.79. This represents a 42.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,048 shares of company stock valued at $957,860 in the last quarter. Insiders own 2.30% of the company’s stock.

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.