Triasima Portfolio Management inc. Acquires New Position in Gartner, Inc. (NYSE:IT)

Triasima Portfolio Management inc. acquired a new stake in shares of Gartner, Inc. (NYSE:IT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 7,692 shares of the information technology services provider’s stock, valued at approximately $3,727,000.

Other hedge funds also recently made changes to their positions in the company. Czech National Bank boosted its stake in Gartner by 6.5% in the 4th quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock worth $8,103,000 after purchasing an additional 1,028 shares during the period. Assetmark Inc. boosted its stake in Gartner by 70.0% in the 3rd quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider’s stock worth $2,607,000 after purchasing an additional 2,118 shares during the period. ING Groep NV boosted its stake in Gartner by 38.4% in the 3rd quarter. ING Groep NV now owns 10,306 shares of the information technology services provider’s stock worth $5,223,000 after purchasing an additional 2,860 shares during the period. Conestoga Capital Advisors LLC boosted its stake in Gartner by 1.5% in the 4th quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider’s stock worth $15,322,000 after purchasing an additional 480 shares during the period. Finally, Barclays PLC boosted its stake in Gartner by 8.6% in the 3rd quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock worth $84,520,000 after purchasing an additional 13,205 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Gartner Stock Performance

NYSE:IT opened at $534.12 on Friday. The stock’s fifty day moving average is $509.71 and its 200 day moving average is $506.06. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $584.01. The firm has a market capitalization of $41.20 billion, a PE ratio of 39.39, a PEG ratio of 3.37 and a beta of 1.34. 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 released its quarterly earnings results 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. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the prior year, the firm posted $3.04 EPS. Gartner’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Gartner, Inc. will post 11.87 earnings per share for the current year.

Insider Activity at Gartner

In other Gartner news, Director James C. Smith sold 5,000 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $524.02, for a total value of $2,620,100.00. Following the sale, the director now owns 509,457 shares in the company, valued at $266,965,657.14. This trade represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP William James Wartinbee III sold 189 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $523.54, for a total value of $98,949.06. Following the completion of the sale, the executive vice president now owns 7,311 shares in the company, valued at approximately $3,827,600.94. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,050 shares of company stock worth $4,292,245. Company insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on IT shares. Robert W. Baird upped their price target on Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upped their price target on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Wells Fargo & Company dropped their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $525.00 to $600.00 in a research report on Friday, January 10th. Finally, StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $552.63.

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.