Promus Capital LLC Buys Shares of 118 Gartner, Inc. (NYSE:IT)

Promus Capital LLC bought a new stake in Gartner, Inc. (NYSE:IT) during the fourth quarter, Holdings Channel.com reports. The firm bought 118 shares of the information technology services provider’s stock, valued at approximately $57,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Baron Wealth Management LLC boosted its position in Gartner by 4.1% in the third quarter. Baron Wealth Management LLC now owns 481 shares of the information technology services provider’s stock valued at $244,000 after buying an additional 19 shares in the last quarter. Howard Capital Management Inc. boosted its position in Gartner by 4.4% in the fourth quarter. Howard Capital Management Inc. now owns 452 shares of the information technology services provider’s stock valued at $219,000 after buying an additional 19 shares in the last quarter. Gilbert & Cook Inc. boosted its position in Gartner by 1.5% in the fourth quarter. Gilbert & Cook Inc. now owns 1,364 shares of the information technology services provider’s stock valued at $661,000 after buying an additional 20 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Gartner by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 917 shares of the information technology services provider’s stock valued at $444,000 after buying an additional 22 shares in the last quarter. Finally, Western Financial Corp CA boosted its position in Gartner by 1.0% in the fourth quarter. Western Financial Corp CA now owns 2,259 shares of the information technology services provider’s stock valued at $1,094,000 after buying an additional 23 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Price Performance

Shares of NYSE IT opened at $490.25 on Thursday. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $584.01. The firm has a fifty day simple moving average of $510.05 and a 200 day simple moving average of $510.31. The company has a market capitalization of $37.66 billion, a PE ratio of 30.58, a P/E/G ratio of 3.30 and a beta of 1.34. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

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

Wall Street Analyst Weigh In

IT has been the topic of a number of recent research reports. Morgan Stanley cut their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $525.00 to $600.00 in a report on Friday, January 10th. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company cut their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $552.63.

Insider Buying and Selling at Gartner

In other Gartner news, EVP William James Wartinbee III sold 189 shares of Gartner stock in a transaction on 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 sale, the executive vice president now directly owns 7,311 shares of the company’s stock, valued at approximately $3,827,600.94. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction on Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the sale, the director now directly owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,479 shares of company stock valued at $734,419. Corporate insiders own 3.60% of the company’s stock.

Gartner Company 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.