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

Fairhaven Wealth Management LLC lifted its stake in shares of Gartner, Inc. (NYSE:IT) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,056 shares of the information technology services provider’s stock after purchasing an additional 55 shares during the period. Fairhaven Wealth Management LLC’s holdings in Gartner were worth $996,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Kestra Investment Management LLC purchased a new stake in Gartner in the fourth quarter worth $29,000. Ashton Thomas Securities LLC bought a new position in shares of Gartner during the 3rd quarter worth $44,000. True Wealth Design LLC increased its holdings 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 worth $50,000 after acquiring an additional 94 shares during the last quarter. Fortitude Family Office LLC raised its stake 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 valued at $53,000 after acquiring an additional 20 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in Gartner during the third quarter valued at about $77,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company cut their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. 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 research note on Thursday, January 16th. Finally, Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $552.63.

Gartner Price Performance

Gartner stock opened at $497.72 on Tuesday. The stock has a market cap of $38.23 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 3.30 and a beta of 1.34. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The business has a 50-day simple moving average of $509.33 and a 200 day simple moving average of $509.73. Gartner, Inc. has a 52 week low of $411.15 and a 52 week high of $584.01.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, topping the consensus estimate of $3.22 by $2.23. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. Gartner’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.04 earnings per share. On average, research analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Transactions at Gartner

In other Gartner news, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at $1,728,932.09. The trade was a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Claire Herkes sold 411 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total value of $214,229.64. Following the transaction, the executive vice president now owns 1,494 shares in the company, valued at $778,732.56. This trade represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 690 shares of company stock valued at $360,925 in the last quarter. Insiders own 3.60% of the company’s stock.

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.