Fortem Financial Group LLC Boosts Stock Position in Gartner, Inc. (NYSE:IT)

Fortem Financial Group LLC raised its position in Gartner, Inc. (NYSE:IT) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,847 shares of the information technology services provider’s stock after purchasing an additional 73 shares during the period. Fortem Financial Group LLC’s holdings in Gartner were worth $1,379,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Eastern Bank purchased a new position in shares of Gartner during the third quarter valued at approximately $26,000. Ashton Thomas Securities LLC acquired a new position in Gartner in the 3rd quarter valued at $44,000. True Wealth Design LLC lifted its stake in shares of Gartner by 2,350.0% during the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after purchasing an additional 94 shares during the period. Fortitude Family Office LLC boosted its holdings in shares of Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after purchasing an additional 20 shares during the last quarter. Finally, Asset Dedication LLC grew its position in shares of Gartner by 46.5% in the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock valued at $75,000 after purchasing an additional 47 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on IT. Wells Fargo & Company increased their target price on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Robert W. Baird boosted their target price on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Morgan Stanley increased their price target on shares of Gartner from $560.00 to $564.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Finally, Barclays boosted their price objective on shares of Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a research note 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. According to MarketBeat, Gartner currently has a consensus rating of “Hold” and a consensus target price of $543.75.

Insider Buying and Selling

In related news, EVP Claire Herkes sold 411 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total value of $214,229.64. Following the sale, 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 legal filing with the SEC, which is accessible through this link. Also, EVP William James Wartinbee III sold 189 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $523.54, for a total transaction of $98,949.06. Following the transaction, the executive vice president now directly owns 7,311 shares of the company’s stock, valued at approximately $3,827,600.94. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,583 shares of company stock valued at $19,241,974. Corporate insiders own 3.60% of the company’s stock.

Gartner Trading Up 0.7 %

Shares of IT stock traded up $3.31 during mid-day trading on Monday, reaching $489.28. The company’s stock had a trading volume of 252,731 shares, compared to its average volume of 302,859. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. The firm has a market capitalization of $37.74 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 3.18 and a beta of 1.31. The company’s 50 day simple moving average is $511.68 and its 200-day simple moving average is $494.79. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $559.00.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company posted $2.56 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, research analysts predict that Gartner, Inc. will post 11.87 EPS for the current fiscal 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.