Procyon Advisors LLC Acquires 38 Shares of Gartner, Inc. (NYSE:IT)

Procyon Advisors LLC lifted its holdings in shares of Gartner, Inc. (NYSE:IT) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,641 shares of the information technology services provider’s stock after buying an additional 38 shares during the quarter. Procyon Advisors LLC’s holdings in Gartner were worth $1,279,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Gartner by 1.1% during the third quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock worth $1,650,697,000 after acquiring an additional 36,258 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Gartner by 1.9% in the third quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider’s stock valued at $1,020,378,000 after purchasing an additional 36,698 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Gartner by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock valued at $1,014,099,000 after purchasing an additional 103,814 shares during the period. JPMorgan Chase & Co. lifted its holdings in 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 worth $525,272,000 after purchasing an additional 70,236 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Gartner by 3.3% in the 3rd quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider’s stock worth $422,678,000 after purchasing an additional 25,315 shares during the period. 91.51% of the stock is owned by institutional investors.

Gartner Stock Performance

NYSE IT opened at $516.34 on Friday. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $559.00. The company has a fifty day moving average of $507.49 and a 200-day moving average of $498.03. The company has a market capitalization of $39.83 billion, a P/E ratio of 38.08, a P/E/G ratio of 2.72 and a beta of 1.33. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the company posted $2.56 earnings per share. The company’s revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts predict that Gartner, Inc. will post 11.87 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 transaction, the executive vice president now owns 7,311 shares in the company, valued at $3,827,600.94. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Claire Herkes sold 411 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total transaction of $214,229.64. Following the sale, the executive vice president now owns 1,494 shares of the company’s stock, valued at approximately $778,732.56. The trade was a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,583 shares of company stock worth $19,241,974 in the last quarter. 3.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research report on Tuesday. Barclays raised 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 report on Friday, January 10th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Wells Fargo & Company decreased 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. Finally, Robert W. Baird lifted their price objective on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Gartner has a consensus rating of “Hold” and a consensus price target of $550.75.

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.