Aigen Investment Management LP Purchases 4,719 Shares of Gartner, Inc. (NYSE:IT)

Aigen Investment Management LP grew its stake in shares of Gartner, Inc. (NYSE:IT) by 1,159.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,126 shares of the information technology services provider’s stock after acquiring an additional 4,719 shares during the period. Aigen Investment Management LP’s holdings in Gartner were worth $2,483,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kestra Investment Management LLC bought a new position in shares of Gartner in the fourth quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new position in Gartner in the third quarter valued at about $44,000. True Wealth Design LLC raised its position in Gartner by 2,350.0% in the third 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 period. SBI Securities Co. Ltd. bought a new position in shares of Gartner during the 4th quarter valued at approximately $49,000. Finally, Capital Performance Advisors LLP purchased a new position in Gartner in the 3rd quarter worth approximately $77,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the transaction, the senior vice president now owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. The trade was a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eileen Serra sold 1,200 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the transaction, the director now owns 1,627 shares of the company’s stock, valued at $796,855.79. The trade was a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,479 shares of company stock valued at $734,419 in the last three months. Company insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on IT shares. Morgan Stanley decreased their price target 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. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Finally, Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $525.00 to $600.00 in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $552.63.

Gartner Trading Down 1.8 %

Shares of IT stock opened at $482.52 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The firm has a 50 day moving average price of $510.20 and a two-hundred day moving average price of $510.31. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $584.01. The company has a market capitalization of $37.07 billion, a PE ratio of 30.10, a price-to-earnings-growth ratio of 3.30 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, 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 during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the prior year, the company posted $3.04 EPS. The company’s revenue was up 8.1% on a year-over-year basis. As a group, analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current year.

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.