Prime Capital Investment Advisors LLC Raises Position in Gartner, Inc. (NYSE:IT)

Prime Capital Investment Advisors LLC lifted its stake in Gartner, Inc. (NYSE:IT) by 5.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 507 shares of the information technology services provider’s stock after acquiring an additional 25 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Gartner were worth $257,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. TIAA Trust National Association boosted its holdings in Gartner by 3.2% in the first quarter. TIAA Trust National Association now owns 744 shares of the information technology services provider’s stock valued at $355,000 after purchasing an additional 23 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Gartner by 22.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 15,859 shares of the information technology services provider’s stock valued at $7,560,000 after purchasing an additional 2,960 shares during the last quarter. UniSuper Management Pty Ltd boosted its holdings in Gartner by 28.1% in the first quarter. UniSuper Management Pty Ltd now owns 12,102 shares of the information technology services provider’s stock valued at $5,769,000 after purchasing an additional 2,655 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Gartner by 1.3% in the first quarter. Bessemer Group Inc. now owns 609,945 shares of the information technology services provider’s stock valued at $290,742,000 after purchasing an additional 7,852 shares during the last quarter. Finally, Lake Street Advisors Group LLC purchased a new position in Gartner in the first quarter valued at about $304,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Stock Down 2.7 %

Shares of Gartner stock opened at $522.86 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The business’s 50 day simple moving average is $518.32 and its 200-day simple moving average is $478.34. The stock has a market capitalization of $40.29 billion, a price-to-earnings ratio of 38.56, a PEG ratio of 3.27 and a beta of 1.32. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $559.00.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.56 EPS. Equities research analysts forecast that Gartner, Inc. will post 11.89 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on IT. Morgan Stanley increased their price target on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. BMO Capital Markets increased their target price on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. UBS Group increased their target price on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Robert W. Baird increased their target price on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Gartner has a consensus rating of “Hold” and a consensus price target of $539.25.

Insider Activity at Gartner

In related news, EVP Yvonne Genovese sold 443 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $483.62, for a total value of $214,243.66. Following the sale, the executive vice president now directly owns 1,959 shares in the company, valued at $947,411.58. This trade represents a 18.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James C. Smith sold 2,450 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $554.68, for a total value of $1,358,966.00. Following the completion of the sale, the director now owns 529,844 shares in the company, valued at approximately $293,893,869.92. This represents a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,172 shares of company stock worth $38,023,255 in the last three months. 3.60% of the stock is owned by company insiders.

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.