Fairhaven Wealth Management LLC Increases Stake in Gartner, Inc. (NYSE:IT)

Fairhaven Wealth Management LLC lifted its stake in shares of Gartner, Inc. (NYSE:IT) by 64.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,942 shares of the information technology services provider’s stock after acquiring an additional 760 shares during the quarter. Fairhaven Wealth Management LLC’s holdings in Gartner were worth $872,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. TCW Group Inc. increased its stake in Gartner by 4.0% during the 4th quarter. TCW Group Inc. now owns 199,062 shares of the information technology services provider’s stock valued at $89,800,000 after purchasing an additional 7,639 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Gartner by 11.4% in the first quarter. Russell Investments Group Ltd. now owns 25,063 shares of the information technology services provider’s stock valued at $11,987,000 after purchasing an additional 2,560 shares during the period. Icon Wealth Advisors LLC acquired a new stake in shares of Gartner during the fourth quarter worth about $2,093,000. Charles Schwab Investment Management Inc. boosted its position in Gartner by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 461,813 shares of the information technology services provider’s stock valued at $208,328,000 after buying an additional 10,828 shares during the last quarter. Finally, Madison Asset Management LLC increased its holdings in Gartner by 2.8% in the 4th quarter. Madison Asset Management LLC now owns 344,657 shares of the information technology services provider’s stock worth $155,478,000 after buying an additional 9,538 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gartner

In other news, Director Anne Sutherland Fuchs sold 705 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $428.99, for a total transaction of $302,437.95. Following the transaction, the director now directly owns 8,524 shares of the company’s stock, valued at $3,656,710.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Anne Sutherland Fuchs sold 705 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $428.99, for a total value of $302,437.95. Following the completion of the transaction, the director now owns 8,524 shares of the company’s stock, valued at $3,656,710.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eugene A. Hall sold 12,082 shares of Gartner stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $504.84, for a total value of $6,099,476.88. Following the sale, the chief executive officer now owns 1,143,389 shares in the company, valued at $577,228,502.76. The disclosure for this sale can be found here. Insiders have sold a total of 33,123 shares of company stock worth $15,796,036 in the last quarter. 3.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wells Fargo & Company upgraded Gartner to a “strong sell” rating in a research report on Tuesday, August 13th. Robert W. Baird boosted their target price on shares of Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Bank of America boosted their price objective on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets raised their target price on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. One investment 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, the company presently has a consensus rating of “Hold” and an average target price of $521.00.

Gartner Stock Performance

Gartner stock traded up $6.08 during mid-day trading on Friday, reaching $491.96. 418,196 shares of the company were exchanged, compared to its average volume of 284,982. Gartner, Inc. has a twelve month low of $323.61 and a twelve month high of $509.15. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. The firm’s 50-day simple moving average is $467.82 and its two-hundred day simple moving average is $457.76. The firm has a market cap of $37.91 billion, a PE ratio of 48.95, a price-to-earnings-growth ratio of 3.83 and a beta of 1.33.

Gartner (NYSE:IT) last announced its quarterly 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. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.85 earnings per share. Equities analysts predict that Gartner, Inc. will post 11.59 earnings per share for the current fiscal year.

Gartner Company 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.