Corient IA LLC Invests $583,000 in Gartner, Inc. (NYSE:IT)

Corient IA LLC bought a new position in shares of Gartner, Inc. (NYSE:IT) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,390 shares of the information technology services provider’s stock, valued at approximately $583,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cary Street Partners Financial LLC bought a new stake in shares of Gartner in the fourth quarter valued at about $27,000. Itau Unibanco Holding S.A. grew its stake in Gartner by 453.3% in the fourth quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider’s stock valued at $40,000 after purchasing an additional 68 shares during the last quarter. Olde Wealth Management LLC purchased a new position in Gartner in the first quarter valued at about $42,000. GW&K Investment Management LLC grew its stake in Gartner by 210.8% in the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 78 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new position in Gartner in the first quarter valued at about $55,000. 91.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IT has been the topic of several analyst reports. Morgan Stanley cut their target price on Gartner from $455.00 to $322.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 6th. The Goldman Sachs Group cut their target price on Gartner from $535.00 to $457.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. UBS Group reiterated a “neutral” rating and issued a $270.00 target price (down previously from $480.00) on shares of Gartner in a research note on Wednesday, August 6th. Wells Fargo & Company cut their target price on Gartner from $345.00 to $225.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 6th. Finally, Barclays cut their target price on Gartner from $475.00 to $320.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Gartner presently has an average rating of “Hold” and an average target price of $369.25.

Insider Buying and Selling

In related news, EVP Akhil Jain sold 625 shares of the company’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $450.00, for a total value of $281,250.00. Following the sale, the executive vice president owned 6,548 shares in the company, valued at $2,946,600. This represents a 8.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Gartner Trading Down 1.8%

Shares of Gartner stock opened at $238.75 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61. Gartner, Inc. has a 12-month low of $223.65 and a 12-month high of $584.01. The firm has a market capitalization of $18.38 billion, a price-to-earnings ratio of 14.69 and a beta of 1.19. The firm’s 50 day simple moving average is $356.35 and its two-hundred day simple moving average is $417.93.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the business posted $3.22 EPS. Gartner’s revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

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.