SVB Wealth LLC Makes New $3.44 Million Investment in Gartner, Inc. (NYSE:IT)

SVB Wealth LLC bought a new position in shares of Gartner, Inc. (NYSE:IT) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 7,108 shares of the information technology services provider’s stock, valued at approximately $3,444,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Fisher Funds Management LTD bought a new stake in shares of Gartner in the 4th quarter valued at about $97,518,000. Proficio Capital Partners LLC bought a new stake in shares of Gartner in the 4th quarter valued at about $95,762,000. Assenagon Asset Management S.A. boosted its holdings in shares of Gartner by 208.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 272,267 shares of the information technology services provider’s stock valued at $131,905,000 after buying an additional 183,974 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Gartner in the 3rd quarter valued at about $70,955,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Gartner by 5.5% in the 3rd quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock valued at $1,014,099,000 after buying an additional 103,814 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on IT shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Wells Fargo & Company cut their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $525.00 to $600.00 in a research note on Friday, January 10th. Morgan Stanley lowered their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Finally, StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Gartner has a consensus rating of “Hold” and an average target price of $552.63.

Insider Activity at Gartner

In related news, EVP William James Wartinbee III sold 189 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 7,311 shares of the company’s stock, valued at $3,827,600.94. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 1,627 shares of the company’s stock, valued at $796,855.79. The trade was a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,479 shares of company stock valued at $734,419 over the last three months. 3.60% of the stock is owned by corporate insiders.

Gartner Stock Performance

Shares of Gartner stock opened at $498.63 on Friday. Gartner, Inc. has a one year low of $411.15 and a one year high of $584.01. The company has a market cap of $38.30 billion, a PE ratio of 31.11, a P/E/G ratio of 3.30 and a beta of 1.34. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The business has a 50-day simple moving average of $510.13 and a 200-day simple moving average of $509.84.

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