Marks Group Wealth Management Inc Increases Holdings in Gartner, Inc. (NYSE:IT)

Marks Group Wealth Management Inc grew its holdings in shares of Gartner, Inc. (NYSE:IT) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,886 shares of the information technology services provider’s stock after buying an additional 44 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Gartner were worth $1,753,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in IT. Principal Financial Group Inc. raised its position in Gartner by 30.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,565,046 shares of the information technology services provider’s stock worth $537,766,000 after purchasing an additional 364,128 shares during the period. American Century Companies Inc. grew its stake in Gartner by 888.4% in the 3rd quarter. American Century Companies Inc. now owns 300,106 shares of the information technology services provider’s stock worth $103,119,000 after acquiring an additional 269,744 shares in the last quarter. Eagle Asset Management Inc. bought a new position in Gartner in the 3rd quarter worth about $83,588,000. Allspring Global Investments Holdings LLC grew its stake in Gartner by 384.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 201,553 shares of the information technology services provider’s stock worth $69,257,000 after acquiring an additional 159,989 shares in the last quarter. Finally, Artisan Partners Limited Partnership bought a new position in Gartner in the 3rd quarter worth about $48,614,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Stock Performance

IT stock traded up $8.13 during trading on Tuesday, hitting $451.19. 109,597 shares of the company traded hands, compared to its average volume of 387,093. The stock’s 50-day simple moving average is $464.91 and its 200 day simple moving average is $436.38. The company has a debt-to-equity ratio of 3.60, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $35.18 billion, a PE ratio of 40.06, a P/E/G ratio of 4.02 and a beta of 1.29. Gartner, Inc. has a 1 year low of $292.60 and a 1 year high of $486.54.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.21. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Gartner had a return on equity of 156.35% and a net margin of 14.94%. Gartner’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the business earned $3.70 earnings per share. On average, equities analysts expect that Gartner, Inc. will post 11.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IT has been the topic of a number of recent research reports. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. BMO Capital Markets increased their price objective on shares of Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a research note on Thursday, February 8th. UBS Group upgraded shares of Gartner from a “neutral” rating to a “buy” rating and raised their target price for the company from $484.00 to $550.00 in a research note on Thursday, April 11th. Morgan Stanley raised their target price on shares of Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Gartner in a report on Tuesday, April 16th. They set a “hold” rating and a $507.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $477.60.

Insider Buying and Selling at Gartner

In other Gartner news, EVP Akhil Jain sold 250 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $464.55, for a total value of $116,137.50. Following the sale, the executive vice president now directly owns 5,239 shares of the company’s stock, valued at $2,433,777.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Gartner news, EVP Akhil Jain sold 250 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $464.55, for a total value of $116,137.50. Following the sale, the executive vice president now directly owns 5,239 shares of the company’s stock, valued at $2,433,777.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Valentin Sribar sold 682 shares of Gartner stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the sale, the executive vice president now directly owns 12,269 shares in the company, valued at $5,557,857. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,952 shares of company stock valued at $10,598,070. Company insiders own 3.60% of the company’s stock.

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.