Sequoia Financial Advisors LLC Raises Stake in Gartner, Inc. (NYSE:IT)

Sequoia Financial Advisors LLC lifted its position in shares of Gartner, Inc. (NYSE:IT) by 1.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,731 shares of the information technology services provider’s stock after buying an additional 30 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Gartner were worth $839,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in IT. Principal Financial Group Inc. raised its stake in shares of Gartner by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after buying an additional 103,814 shares during the last quarter. Apollon Wealth Management LLC raised its stake in Gartner by 19.4% in the 3rd quarter. Apollon Wealth Management LLC now owns 1,014 shares of the information technology services provider’s stock valued at $514,000 after purchasing an additional 165 shares during the last quarter. Prime Capital Investment Advisors LLC raised its stake in Gartner by 5.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 507 shares of the information technology services provider’s stock valued at $257,000 after purchasing an additional 25 shares during the last quarter. Aigen Investment Management LP acquired a new position in Gartner in the 3rd quarter valued at about $206,000. Finally, KBC Group NV raised its stake in Gartner by 6.2% in the 3rd quarter. KBC Group NV now owns 12,186 shares of the information technology services provider’s stock valued at $6,175,000 after purchasing an additional 716 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Trading Up 1.2 %

NYSE IT opened at $457.45 on Monday. The company has a 50-day moving average of $507.51 and a 200-day moving average of $509.64. The company has a market cap of $35.14 billion, a P/E ratio of 28.54, a P/E/G ratio of 3.30 and a beta of 1.29. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $584.01. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating the consensus estimate of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the firm posted $3.04 earnings per share. Gartner’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insider Activity at Gartner

In other Gartner news, Director Eileen Serra sold 1,200 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the sale, the director now owns 1,627 shares of the company’s stock, valued at $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John J. Rinello sold 90 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the sale, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

IT has been the subject of several analyst reports. Robert W. Baird boosted their target price on shares of Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Wells Fargo & Company cut their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company 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, March 5th. Morgan Stanley cut their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Finally, Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $525.00 to $600.00 in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $552.63.

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.