Proficio Capital Partners LLC Takes Position in Gartner, Inc. (NYSE:IT)

Proficio Capital Partners LLC purchased a new stake in Gartner, Inc. (NYSE:IT) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 197,664 shares of the information technology services provider’s stock, valued at approximately $95,762,000. Gartner comprises 1.2% of Proficio Capital Partners LLC’s portfolio, making the stock its 7th biggest position.

Other institutional investors have also made changes to their positions in the company. Fisher Funds Management LTD bought a new position in Gartner during the 4th quarter worth $97,518,000. Assenagon Asset Management S.A. grew its stake in Gartner by 208.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 272,267 shares of the information technology services provider’s stock worth $131,905,000 after buying an additional 183,974 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Gartner during the 3rd quarter worth $70,955,000. Principal Financial Group Inc. grew its stake in 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 worth $1,014,099,000 after buying an additional 103,814 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Gartner during the 3rd quarter worth $36,789,000. 91.51% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP John J. Rinello sold 90 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the sale, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eileen Serra sold 1,200 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the sale, the director now directly owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. This represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IT. Wells Fargo & Company lowered their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Morgan Stanley lowered their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, March 5th. The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Finally, Robert W. Baird boosted their price target on Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $552.63.

Gartner Trading Down 1.7 %

Shares of Gartner stock opened at $451.83 on Friday. 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 firm has a market cap of $34.71 billion, a price-to-earnings ratio of 28.19, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29. The business has a fifty day simple moving average of $508.71 and a 200-day simple moving average of $509.85. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $584.01.

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

Gartner 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.