Bryn Mawr Capital Management LLC Buys 8,419 Shares of Gartner, Inc. (NYSE:IT)

Bryn Mawr Capital Management LLC grew its stake in Gartner, Inc. (NYSE:IT) by 652.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,710 shares of the information technology services provider’s stock after purchasing an additional 8,419 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Gartner were worth $4,704,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Eastern Bank bought a new position in Gartner during the 3rd quarter valued at about $26,000. Kestra Investment Management LLC bought a new position in shares of Gartner during the fourth quarter valued at approximately $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of Gartner in the third quarter worth approximately $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 acquiring an additional 94 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its stake in shares of Gartner by 23.8% during the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after acquiring an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling at Gartner

In other Gartner news, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of the sale, the senior vice president now directly owns 3,259 shares in the company, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James C. Smith sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $524.02, for a total value of $2,620,100.00. Following the transaction, the director now directly owns 509,457 shares in the company, valued at approximately $266,965,657.14. The trade was a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,690 shares of company stock worth $2,981,025 over the last quarter. Insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on IT shares. Wells Fargo & Company reduced their target price on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $525.00 to $600.00 in a research report on Friday, January 10th. Morgan Stanley reduced their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Gartner currently has an average rating of “Hold” and a consensus target price of $552.63.

Gartner Price Performance

NYSE IT opened at $516.02 on Thursday. The company has a market cap of $39.80 billion, a PE ratio of 32.19, a P/E/G ratio of 3.37 and a beta of 1.34. The firm’s 50 day moving average price is $510.07 and its 200-day moving average price is $508.88. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $584.01.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $2.23. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.69 billion. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.04 EPS. Sell-side analysts forecast that Gartner, Inc. will post 12.5 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.