Assetmark Inc. Acquires 2,118 Shares of Gartner, Inc. (NYSE:IT)

Assetmark Inc. grew its stake in Gartner, Inc. (NYSE:IT) by 70.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,144 shares of the information technology services provider’s stock after purchasing an additional 2,118 shares during the quarter. Assetmark Inc.’s holdings in Gartner were worth $2,607,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Fortitude Family Office LLC grew its holdings in Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after purchasing an additional 20 shares during the period. Moors & Cabot Inc. grew its holdings in shares of Gartner by 3.0% in the 2nd quarter. Moors & Cabot Inc. now owns 763 shares of the information technology services provider’s stock valued at $343,000 after buying an additional 22 shares during the period. TIAA Trust National Association increased its position in shares of Gartner by 3.2% in the 1st quarter. TIAA Trust National Association now owns 744 shares of the information technology services provider’s stock valued at $355,000 after buying an additional 23 shares in the last quarter. Mather Group LLC. raised its stake in Gartner by 2.2% during the 2nd quarter. Mather Group LLC. now owns 1,079 shares of the information technology services provider’s stock worth $514,000 after buying an additional 23 shares during the period. Finally, Wallace Advisory Group LLC lifted its holdings in Gartner by 2.4% during the second quarter. Wallace Advisory Group LLC now owns 980 shares of the information technology services provider’s stock worth $440,000 after acquiring an additional 23 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Gartner Price Performance

NYSE IT opened at $551.80 on Thursday. The firm’s 50 day moving average is $516.48 and its 200-day moving average is $476.56. 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 company has a market capitalization of $42.52 billion, a PE ratio of 40.69, a price-to-earnings-growth ratio of 3.44 and a beta of 1.32. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $559.00.

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, beating the consensus estimate of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the business earned $2.56 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that Gartner, Inc. will post 11.89 earnings per share for the current fiscal year.

Insider Activity at Gartner

In other news, Director James C. Smith sold 2,450 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $554.68, for a total value of $1,358,966.00. Following the completion of the sale, the director now owns 529,844 shares of the company’s stock, valued at approximately $293,893,869.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Gartner news, EVP Yvonne Genovese sold 443 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $483.62, for a total transaction of $214,243.66. Following the transaction, the executive vice president now owns 1,959 shares of the company’s stock, valued at $947,411.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James C. Smith sold 2,450 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $554.68, for a total value of $1,358,966.00. Following the completion of the sale, the director now directly owns 529,844 shares of the company’s stock, valued at approximately $293,893,869.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,172 shares of company stock valued at $38,023,255. 3.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

IT has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Barclays lifted their price target on shares of Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Bank of America increased their price objective on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Robert W. Baird boosted their price objective on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $539.25.

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.