431 Shares in Gartner, Inc. (NYSE:IT) Acquired by Longboard Asset Management LP

Longboard Asset Management LP bought a new stake in shares of Gartner, Inc. (NYSE:IT) during the 4th quarter, Holdings Channel reports. The firm bought 431 shares of the information technology services provider’s stock, valued at approximately $209,000.

Several other hedge funds have also recently added to or reduced their stakes in IT. Handelsbanken Fonder AB raised its stake in Gartner by 1.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 17,692 shares of the information technology services provider’s stock valued at $8,966,000 after acquiring an additional 266 shares in the last quarter. Czech National Bank raised its stake in Gartner by 6.1% during the 3rd quarter. Czech National Bank now owns 15,697 shares of the information technology services provider’s stock valued at $7,955,000 after acquiring an additional 903 shares in the last quarter. GAMMA Investing LLC raised its stake in Gartner by 59.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,051 shares of the information technology services provider’s stock valued at $533,000 after acquiring an additional 390 shares in the last quarter. Diversified Trust Co bought a new stake in Gartner during the 3rd quarter valued at $201,000. Finally, Miracle Mile Advisors LLC raised its stake in Gartner by 15.4% during the 3rd quarter. Miracle Mile Advisors LLC now owns 548 shares of the information technology services provider’s stock valued at $278,000 after acquiring an additional 73 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on IT shares. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. Wells Fargo & Company dropped their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Morgan Stanley dropped their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. One investment 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $550.75.

Insider Buying and Selling

In other news, EVP William James Wartinbee III sold 189 shares of Gartner stock in a transaction on Friday, December 6th. The stock was sold at an average price of $523.54, for a total transaction of $98,949.06. Following the transaction, the executive vice president now owns 7,311 shares in the company, valued at approximately $3,827,600.94. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Claire Herkes sold 411 shares of Gartner stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total value of $214,229.64. Following the transaction, the executive vice president now owns 1,494 shares in the company, valued at $778,732.56. This represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,583 shares of company stock worth $13,884,374 in the last three months. 3.60% of the stock is currently owned by insiders.

Gartner Stock Performance

Shares of NYSE IT opened at $546.38 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $42.14 billion, a price-to-earnings ratio of 40.29, a PEG ratio of 3.37 and a beta of 1.34. The stock’s fifty day simple moving average is $508.97 and its 200 day simple moving average is $505.61. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $584.01.

Gartner (NYSE:IT) last issued its 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 analysts’ expectations of $1.69 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.04 EPS. As a group, sell-side analysts forecast that Gartner, Inc. will post 11.87 earnings per share for the current fiscal 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.