Gartner, Inc. (NYSE:IT) Shares Bought by Smith Salley Wealth Management

Smith Salley Wealth Management grew its position in Gartner, Inc. (NYSE:IT) by 7.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,252 shares of the information technology services provider’s stock after acquiring an additional 370 shares during the period. Smith Salley Wealth Management’s holdings in Gartner were worth $2,545,000 at the end of the most recent quarter.

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

Insider Activity at Gartner

In related news, Director James C. Smith sold 10,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $535.76, for a total transaction of $5,357,600.00. Following the completion of the sale, the director now owns 554,274 shares in the company, valued at $296,957,838.24. This represents a 1.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William James Wartinbee III sold 189 shares of Gartner stock in a transaction on Friday, December 6th. The shares were 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. Insiders sold a total of 35,583 shares of company stock valued at $19,241,974 in the last three months. 3.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

IT has been the topic of several analyst reports. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Robert W. Baird increased their price target on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Morgan Stanley reduced their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Wells Fargo & Company dropped their price objective on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $550.75.

Gartner Stock Up 0.8 %

Shares of NYSE:IT opened at $516.34 on Friday. The firm has a 50 day simple moving average of $507.49 and a 200-day simple moving average of $498.39. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $559.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The company has a market capitalization of $39.83 billion, a PE ratio of 38.08, a P/E/G ratio of 2.72 and a beta of 1.33.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. Gartner’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.56 earnings per share. On average, equities analysts predict that Gartner, Inc. will post 11.87 EPS for the current fiscal year.

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.