Wealth Alliance Sells 84 Shares of Gartner, Inc. (NYSE:IT)

Wealth Alliance cut its position in shares of Gartner, Inc. (NYSE:IT) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,178 shares of the information technology services provider’s stock after selling 84 shares during the quarter. Wealth Alliance’s holdings in Gartner were worth $531,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. OFI Invest Asset Management bought a new position in Gartner in the third quarter valued at approximately $25,000. BKM Wealth Management LLC bought a new position in Gartner in the fourth quarter valued at approximately $26,000. Cornerstone Planning Group LLC bought a new position in Gartner in the second quarter valued at approximately $27,000. VisionPoint Advisory Group LLC boosted its stake in shares of Gartner by 254.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 85 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 61 shares during the period. Finally, Resurgent Financial Advisors LLC bought a new position in shares of Gartner during the 4th quarter worth approximately $29,000. 91.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Claire Herkes sold 1,460 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $475.76, for a total transaction of $694,609.60. Following the transaction, the executive vice president now directly owns 2,842 shares of the company’s stock, valued at approximately $1,352,109.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the sale, the executive vice president now owns 12,269 shares of the company’s stock, valued at approximately $5,557,857. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Claire Herkes sold 1,460 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $475.76, for a total value of $694,609.60. Following the completion of the sale, the executive vice president now directly owns 2,842 shares of the company’s stock, valued at approximately $1,352,109.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,952 shares of company stock valued at $10,598,070. 3.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on IT shares. Morgan Stanley lifted their target price on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. UBS Group upgraded Gartner from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $484.00 to $550.00 in a research note on Thursday, April 11th. Deutsche Bank Aktiengesellschaft started coverage on Gartner in a report on Tuesday. They set a “hold” rating and a $507.00 price target for the company. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. Finally, BMO Capital Markets lifted their price target on Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $477.60.

Gartner Price Performance

Gartner stock opened at $449.41 on Thursday. The company has a debt-to-equity ratio of 3.60, a quick ratio of 0.91 and a current ratio of 0.91. Gartner, Inc. has a 52 week low of $292.60 and a 52 week high of $486.54. The stock has a market capitalization of $35.04 billion, a P/E ratio of 40.63, a price-to-earnings-growth ratio of 4.18 and a beta of 1.29. The stock has a fifty day moving average of $465.66 and a 200-day moving average of $433.71.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.21. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. Gartner had a return on equity of 156.35% and a net margin of 14.94%. Gartner’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.70 EPS. On average, sell-side analysts expect that Gartner, Inc. will post 11.36 earnings per share 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.