Twinbeech Capital LP Purchases New Position in Gartner, Inc. (NYSE:IT)

Twinbeech Capital LP purchased a new stake in shares of Gartner, Inc. (NYSE:IT) during the 4th quarter, Holdings Channel reports. The fund purchased 89,307 shares of the information technology services provider’s stock, valued at approximately $43,267,000.

A number of other institutional investors have also recently added to or reduced their stakes in IT. Barclays PLC grew its holdings in Gartner by 8.6% during the 3rd quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock worth $84,520,000 after acquiring an additional 13,205 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Gartner by 7.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock worth $525,272,000 after acquiring an additional 70,236 shares during the last quarter. Gateway Investment Advisers LLC bought a new stake in Gartner during the 4th quarter worth approximately $450,000. Merit Financial Group LLC bought a new stake in Gartner during the 4th quarter worth approximately $772,000. Finally, Smith Salley Wealth Management grew its holdings in Gartner by 7.6% during the 4th quarter. Smith Salley Wealth Management now owns 5,252 shares of the information technology services provider’s stock worth $2,545,000 after acquiring an additional 370 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Gartner Stock Up 0.3%

Gartner stock opened at $447.88 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. Gartner, Inc. has a 12-month low of $366.05 and a 12-month high of $584.01. The firm’s fifty day moving average is $420.79 and its 200 day moving average is $479.56. The company has a market capitalization of $34.41 billion, a PE ratio of 27.94, a PEG ratio of 3.30 and a beta of 1.24.

Gartner (NYSE:IT) last released its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.26. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the company earned $2.93 EPS. Gartner’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts predict that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Activity at Gartner

In other Gartner news, Director Eileen Serra sold 1,200 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the transaction, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. This represents a 42.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP William James Wartinbee III sold 538 shares of the company’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $449.09, for a total transaction of $241,610.42. Following the transaction, the executive vice president now owns 7,965 shares in the company, valued at approximately $3,577,001.85. The trade was a 6.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,001 shares of company stock worth $2,736,801 in the last quarter. Company insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

IT has been the topic of a number of analyst reports. Barclays reduced their price objective on shares of Gartner from $510.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Wells Fargo & Company reduced their price objective on shares of Gartner from $401.00 to $400.00 and set an “underweight” rating on the stock in a research note on Thursday, May 1st. UBS Group upped their price objective on shares of Gartner from $500.00 to $525.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Finally, Robert W. Baird reduced their price objective on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Gartner currently has an average rating of “Hold” and a consensus price target of $518.67.

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.