Salem Investment Counselors Inc. Has $2.48 Million Stock Position in Gartner, Inc. (NYSE:IT)

Salem Investment Counselors Inc. boosted its position in Gartner, Inc. (NYSE:IT) by 12.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,127 shares of the information technology services provider’s stock after buying an additional 568 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Gartner were worth $2,484,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Eastern Bank bought a new position in Gartner during the third quarter worth $26,000. Ashton Thomas Securities LLC acquired a new stake in Gartner in the 3rd quarter worth $44,000. True Wealth Design LLC increased its holdings in shares of 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 purchasing an additional 94 shares during the period. Fortitude Family Office LLC raised its position in shares of Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after buying an additional 20 shares during the last quarter. Finally, Asset Dedication LLC lifted its stake in shares of Gartner by 46.5% in the third 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. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Stock Up 0.8 %

IT opened at $492.83 on Tuesday. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $559.00. The firm has a market cap of $38.01 billion, a price-to-earnings ratio of 36.34, a PEG ratio of 3.18 and a beta of 1.33. The firm’s 50-day simple moving average is $509.76 and its 200-day simple moving average is $496.62. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.05. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The company’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $2.56 earnings per share. Equities research analysts anticipate that Gartner, Inc. will post 11.87 EPS for the current fiscal year.

Insider Buying and Selling at Gartner

In related news, Director James C. Smith sold 17,533 shares of Gartner stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $547.09, for a total value of $9,592,128.97. Following the completion of the transaction, the director now directly owns 532,294 shares of the company’s stock, valued at $291,212,724.46. The trade was a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Claire Herkes sold 411 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total transaction of $214,229.64. Following the sale, the executive vice president now directly owns 1,494 shares in the company, valued at approximately $778,732.56. This represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,583 shares of company stock worth $19,241,974. 3.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

IT has been the topic of several research reports. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Morgan Stanley boosted their price objective on Gartner from $560.00 to $564.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Barclays raised 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 report on Friday. Deutsche Bank Aktiengesellschaft boosted 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. Finally, Robert W. Baird raised their price objective on shares of Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $551.88.

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.