Wealthspire Advisors LLC Acquires 157 Shares of Gartner, Inc. (NYSE:IT)

Wealthspire Advisors LLC grew its holdings in shares of Gartner, Inc. (NYSE:IT) by 32.5% in the second quarter, HoldingsChannel.com reports. The fund owned 640 shares of the information technology services provider’s stock after purchasing an additional 157 shares during the period. Wealthspire Advisors LLC’s holdings in Gartner were worth $287,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Frazier Financial Advisors LLC purchased a new position in shares of Gartner during the 4th quarter valued at about $27,000. DSM Capital Partners LLC purchased a new position in shares of Gartner during the 4th quarter valued at about $32,000. Central Pacific Bank Trust Division purchased a new position in shares of Gartner during the 1st quarter valued at about $36,000. Crewe Advisors LLC raised its holdings in shares of Gartner by 223.3% during the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after buying an additional 67 shares in the last quarter. Finally, J.Safra Asset Management Corp raised its holdings in shares of Gartner by 58.7% during the 1st quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock valued at $70,000 after buying an additional 54 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

IT opened at $507.35 on Wednesday. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. Gartner, Inc. has a 52-week low of $323.61 and a 52-week high of $515.09. The stock has a market capitalization of $39.39 billion, a PE ratio of 50.48, a price-to-earnings-growth ratio of 3.89 and a beta of 1.32. The stock’s 50 day moving average price is $478.23 and its 200-day moving average price is $460.93.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.20. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the firm earned $2.85 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts predict that Gartner, Inc. will post 11.59 EPS for the current year.

Insider Activity at Gartner

In related news, EVP Yvonne Genovese sold 443 shares of Gartner 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 sale, the executive vice president now directly owns 1,959 shares in the company, valued at $947,411.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Yvonne Genovese sold 443 shares of Gartner 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 sale, the executive vice president now directly owns 1,959 shares in the company, valued at $947,411.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Akhil Jain sold 400 shares of Gartner stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $485.00, for a total value of $194,000.00. Following the sale, the executive vice president now owns 4,839 shares in the company, valued at $2,346,915. The disclosure for this sale can be found here. Insiders have sold 65,164 shares of company stock worth $32,601,014 over the last ninety days. 3.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on IT. Wells Fargo & Company raised Gartner to a “strong sell” rating in a research note on Tuesday, August 13th. Morgan Stanley lifted their price target on Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Robert W. Baird lifted their price target on Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, UBS Group lifted their price target on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Gartner presently has an average rating of “Hold” and a consensus target price of $521.00.

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.