WCM Investment Management LLC Grows Position in Gartner, Inc. (NYSE:IT)

WCM Investment Management LLC grew its position in shares of Gartner, Inc. (NYSE:IT) by 25.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,768 shares of the information technology services provider’s stock after purchasing an additional 5,493 shares during the quarter. WCM Investment Management LLC’s holdings in Gartner were worth $12,995,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in IT. Eastern Bank acquired a new stake in Gartner in the third quarter valued at approximately $26,000. Ashton Thomas Securities LLC purchased a new position in shares of Gartner during the 3rd quarter valued at approximately $44,000. True Wealth Design LLC grew its stake in Gartner by 2,350.0% in the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after acquiring an additional 94 shares during the period. Fortitude Family Office LLC increased its holdings in Gartner by 23.8% in the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after acquiring an additional 20 shares in the last quarter. Finally, Asset Dedication LLC raised its position in Gartner by 46.5% during the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock worth $75,000 after acquiring an additional 47 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Stock Down 1.0 %

Shares of IT opened at $528.93 on Monday. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $584.01. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. The stock has a fifty day simple moving average of $509.93 and a two-hundred day simple moving average of $507.08. The company has a market capitalization of $40.80 billion, a PE ratio of 33.00, a price-to-earnings-growth ratio of 3.50 and a beta of 1.34.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $2.23. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 136.32%. Gartner’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business earned $3.04 earnings per share. As a group, equities analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Activity

In other Gartner news, Director James C. Smith sold 5,000 shares of Gartner stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $524.02, for a total transaction of $2,620,100.00. Following the completion of the sale, the director now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $98,949.06. Following the completion of the transaction, the executive vice president now owns 7,311 shares in the company, valued at approximately $3,827,600.94. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,600 shares of company stock valued at $2,933,279. 3.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IT. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. Robert W. Baird boosted their price objective on Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. Wells Fargo & Company decreased their target price on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft boosted their price target on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley decreased their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $552.63.

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.