Permanent Capital Management LP Purchases Shares of 745 Gartner, Inc. (NYSE:IT)

Permanent Capital Management LP purchased a new stake in Gartner, Inc. (NYSE:IT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 745 shares of the information technology services provider’s stock, valued at approximately $361,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Gartner by 2.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 826 shares of the information technology services provider’s stock valued at $400,000 after purchasing an additional 20 shares during the period. Machina Capital S.A.S. bought a new stake in shares of Gartner in the 4th quarter worth $2,032,000. Haven Private LLC bought a new stake in shares of Gartner in the 4th quarter worth $372,000. Andra AP fonden increased its holdings in shares of Gartner by 18.8% in the 4th quarter. Andra AP fonden now owns 125,500 shares of the information technology services provider’s stock worth $60,801,000 after purchasing an additional 19,900 shares in the last quarter. Finally, Callan Family Office LLC bought a new stake in shares of Gartner in the 4th quarter worth $442,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

IT has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their target price on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. Robert W. Baird lifted their target price on Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Morgan Stanley reduced their target price on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $525.00 to $600.00 in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $552.63.

Gartner Stock Down 0.2 %

Shares of NYSE:IT opened at $482.18 on Friday. The business’s 50 day moving average is $509.94 and its 200 day moving average is $509.98. 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 stock has a market cap of $37.04 billion, a P/E ratio of 30.08, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $584.01.

Gartner (NYSE:IT) last posted 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 return on equity of 116.56% and a net margin of 20.00%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the prior year, the business earned $3.04 earnings per share. Gartner’s revenue was up 8.1% on a year-over-year basis. Sell-side analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Buying and Selling

In related news, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the transaction, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eileen Serra sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the transaction, the director now directly owns 1,627 shares in the company, valued at $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. 3.60% of the stock is currently owned by company insiders.

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.