Edgestream Partners L.P. Buys 6,899 Shares of Gartner, Inc. (NYSE:IT)

Edgestream Partners L.P. lifted its stake in Gartner, Inc. (NYSE:IT) by 386.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,682 shares of the information technology services provider’s stock after buying an additional 6,899 shares during the quarter. Edgestream Partners L.P.’s holdings in Gartner were worth $4,138,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in IT. Nordea Investment Management AB raised its stake in Gartner by 2.0% during the 4th quarter. Nordea Investment Management AB now owns 6,110 shares of the information technology services provider’s stock valued at $2,766,000 after purchasing an additional 121 shares during the period. BKM Wealth Management LLC bought a new stake in Gartner during the 4th quarter valued at approximately $26,000. Fortitude Family Office LLC bought a new stake in Gartner during the 4th quarter valued at approximately $38,000. CX Institutional bought a new stake in Gartner during the 4th quarter valued at approximately $244,000. Finally, Yarbrough Capital LLC bought a new stake in Gartner during the 4th quarter valued at approximately $305,000. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Gartner in a research note on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price objective on the stock. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. BMO Capital Markets reduced their price objective on Gartner from $450.00 to $432.00 and set a “market perform” rating on the stock in a research note on Thursday, May 2nd. UBS Group reduced their price objective on Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, Robert W. Baird reduced their price objective on Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Gartner presently has an average rating of “Hold” and a consensus price target of $478.50.

Gartner Trading Up 2.9 %

IT traded up $13.14 during trading hours on Monday, reaching $471.69. 342,468 shares of the company’s stock traded hands, compared to its average volume of 400,876. The firm has a 50-day moving average price of $444.28 and a 200 day moving average price of $453.05. Gartner, Inc. has a 52-week low of $323.61 and a 52-week high of $486.54. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.42. The firm has a market capitalization of $36.62 billion, a PE ratio of 46.93, a PEG ratio of 4.01 and a beta of 1.33.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.40. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.47 billion. Gartner had a return on equity of 141.55% and a net margin of 13.35%. Gartner’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.88 EPS. As a group, sell-side analysts predict that Gartner, Inc. will post 11.55 EPS for the current fiscal year.

Insider Buying and Selling at Gartner

In other news, Director James C. Smith sold 10,000 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $455.20, for a total value of $4,552,000.00. Following the completion of the transaction, the director now directly owns 608,369 shares of the company’s stock, valued at approximately $276,929,568.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Gartner news, EVP Alwyn Dawkins sold 600 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $447.63, for a total transaction of $268,578.00. Following the sale, the executive vice president now owns 51,583 shares in the company, valued at approximately $23,090,098.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James C. Smith sold 10,000 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $455.20, for a total value of $4,552,000.00. Following the sale, the director now owns 608,369 shares in the company, valued at approximately $276,929,568.80. The disclosure for this sale can be found here. Insiders sold a total of 22,544 shares of company stock valued at $10,079,813 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

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.