Promus Capital LLC Invests $57,000 in Gartner, Inc. (NYSE:IT)

Promus Capital LLC acquired a new position in shares of Gartner, Inc. (NYSE:IT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 118 shares of the information technology services provider’s stock, valued at approximately $57,000.

A number of other large investors also recently modified their holdings of IT. Kestra Investment Management LLC acquired a new position in shares of Gartner during the 4th quarter worth about $29,000. Ashton Thomas Securities LLC acquired a new stake in Gartner in the 3rd quarter valued at about $44,000. SBI Securities Co. Ltd. acquired a new stake in Gartner in the 4th quarter valued at about $49,000. True Wealth Design LLC lifted 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 purchasing an additional 94 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in Gartner in the 3rd quarter valued at about $77,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Stock Up 1.7 %

Shares of IT opened at $490.25 on Thursday. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $584.01. The firm’s 50 day moving average is $510.05 and its 200-day moving average is $510.31. The stock has a market capitalization of $37.66 billion, a PE ratio of 30.58, a P/E/G ratio of 3.30 and a beta of 1.34. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81.

Gartner (NYSE:IT) last announced its earnings results 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. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period last year, the firm earned $3.04 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities research analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IT. Robert W. Baird raised their target price on shares of Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday. Morgan Stanley lowered their price target 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. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft increased their price target 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 given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $552.63.

Insider Transactions at Gartner

In related news, EVP William James Wartinbee III sold 189 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 7,311 shares in the company, valued at approximately $3,827,600.94. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eileen Serra sold 1,200 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the sale, the director now owns 1,627 shares in the company, valued at $796,855.79. This represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,479 shares of company stock valued at $734,419. 3.60% of the stock is currently owned by company insiders.

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.