Conestoga Capital Advisors LLC Purchases 480 Shares of Gartner, Inc. (NYSE:IT)

Conestoga Capital Advisors LLC boosted its holdings in shares of Gartner, Inc. (NYSE:IT) by 1.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,626 shares of the information technology services provider’s stock after purchasing an additional 480 shares during the period. Conestoga Capital Advisors LLC’s holdings in Gartner were worth $15,322,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of IT. State Street Corp increased its stake in shares of Gartner by 1.1% in the 3rd quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock valued at $1,650,697,000 after acquiring an additional 36,258 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Gartner by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider’s stock valued at $1,020,378,000 after buying an additional 36,698 shares in the last quarter. Principal Financial Group Inc. raised its stake in Gartner by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after buying an additional 103,814 shares during the period. JPMorgan Chase & Co. lifted its holdings in Gartner by 7.3% during the third quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock worth $525,272,000 after acquiring an additional 70,236 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Gartner by 3.3% in the third quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider’s stock valued at $422,678,000 after acquiring an additional 25,315 shares during the period. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In related news, EVP William James Wartinbee III sold 189 shares of the business’s stock in a transaction dated 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 directly owns 7,311 shares of the company’s stock, valued at $3,827,600.94. The trade was a 2.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Claire Herkes sold 411 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total transaction of $214,229.64. Following the transaction, the executive vice president now owns 1,494 shares in the company, valued at approximately $778,732.56. The trade was a 21.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,583 shares of company stock worth $19,241,974 in the last three months. 3.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Robert W. Baird upped their price target on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Morgan Stanley lowered their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. Wells Fargo & Company decreased their price objective on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $550.75.

Gartner Stock Performance

Shares of NYSE:IT opened at $537.62 on Monday. The firm has a market cap of $41.47 billion, a PE ratio of 39.43, a PEG ratio of 3.37 and a beta of 1.34. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $559.00. 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 company’s 50 day moving average price is $507.91 and its two-hundred day moving average price is $504.37.

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