Panoramic Capital Partners LLC Takes $203,000 Position in Gartner, Inc. (NYSE:IT)

Panoramic Capital Partners LLC purchased a new position in shares of Gartner, Inc. (NYSE:IT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 418 shares of the information technology services provider’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its stake in shares of Gartner by 208.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 272,267 shares of the information technology services provider’s stock worth $131,905,000 after acquiring an additional 183,974 shares during the period. Point72 Asset Management L.P. bought a new stake in Gartner during the third quarter valued at approximately $70,955,000. Principal Financial Group Inc. grew its stake in Gartner by 5.5% in 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 in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Gartner in the 3rd quarter worth $36,789,000. Finally, JPMorgan Chase & Co. raised its position in shares of Gartner by 7.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock valued at $525,272,000 after buying an additional 70,236 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IT has been the subject of several research reports. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. Robert W. Baird increased their price objective on Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Wells Fargo & Company decreased their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a report on Friday, January 10th. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Morgan Stanley lowered their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $552.63.

Gartner Stock Down 0.1 %

Shares of Gartner stock opened at $528.74 on Tuesday. The company’s 50 day moving average price is $510.16 and its 200-day moving average price is $507.55. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $584.01. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $40.78 billion, a price-to-earnings ratio of 32.98, a P/E/G ratio of 3.50 and a beta of 1.34.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (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 analyst estimates of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 136.32%. The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.04 EPS. Equities research analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Activity at Gartner

In related news, EVP William James Wartinbee III sold 189 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $523.54, for a total value of $98,949.06. Following the completion of the transaction, the executive vice president now directly owns 7,311 shares of the company’s stock, valued at $3,827,600.94. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James C. Smith sold 5,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 509,457 shares of the company’s stock, valued at $266,965,657.14. This represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,600 shares of company stock worth $2,933,279 in the last 90 days. Company insiders own 3.60% of the company’s stock.

About Gartner

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.