CenterBook Partners LP Buys Shares of 1,738 Gartner, Inc. (NYSE:IT)

CenterBook Partners LP purchased a new position in shares of Gartner, Inc. (NYSE:IT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,738 shares of the information technology services provider’s stock, valued at approximately $842,000.

A number of other hedge funds have also recently modified their holdings of IT. Principal Financial Group Inc. increased its stake in Gartner by 5.5% during the third 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 acquiring an additional 103,814 shares during the last quarter. Barclays PLC grew its holdings in shares of 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 purchasing an additional 13,205 shares during the period. Virtue Capital Management LLC acquired a new stake in shares of Gartner during the 3rd quarter worth about $205,000. Virtu Financial LLC purchased a new stake in Gartner in the 3rd quarter valued at about $1,216,000. Finally, Pine Valley Investments Ltd Liability Co lifted its position in Gartner by 15.6% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 17,146 shares of the information technology services provider’s stock valued at $8,689,000 after buying an additional 2,313 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Activity

In related news, Director Eileen Serra sold 1,200 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was 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 of the company’s stock, valued at $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP John J. Rinello sold 90 shares of the company’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 sale, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

Gartner Trading Up 2.0 %

NYSE IT opened at $399.84 on Friday. Gartner, Inc. has a 12 month low of $366.05 and a 12 month high of $584.01. The company has a market capitalization of $30.71 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 3.30 and a beta of 1.26. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The firm’s fifty day moving average price is $461.38 and its 200 day moving average price is $496.34.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Robert W. Baird decreased their price objective on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Morgan Stanley cut their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Finally, Wells Fargo & Company lowered their target price on Gartner from $488.00 to $401.00 and set an “underweight” rating for the company in a report on Wednesday. One research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $518.00.

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.