Picton Mahoney Asset Management Raises Position in Gartner, Inc. (NYSE:IT)

Picton Mahoney Asset Management lifted its stake in Gartner, Inc. (NYSE:IT) by 4.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 35,472 shares of the information technology services provider’s stock after buying an additional 1,594 shares during the period. Picton Mahoney Asset Management’s holdings in Gartner were worth $16,000,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Commonwealth Equity Services LLC lifted its stake in Gartner by 32.3% in the third quarter. Commonwealth Equity Services LLC now owns 5,371 shares of the information technology services provider’s stock worth $1,846,000 after purchasing an additional 1,310 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Gartner by 115.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 5,601 shares of the information technology services provider’s stock valued at $1,925,000 after acquiring an additional 3,002 shares during the period. Stratos Wealth Partners LTD. bought a new position in Gartner in the 3rd quarter valued at $373,000. IFM Investors Pty Ltd increased its stake in Gartner by 1.4% in the third quarter. IFM Investors Pty Ltd now owns 16,812 shares of the information technology services provider’s stock worth $5,777,000 after purchasing an additional 228 shares during the period. Finally, Advisor Partners II LLC increased its stake in Gartner by 2.4% in the third quarter. Advisor Partners II LLC now owns 3,885 shares of the information technology services provider’s stock worth $1,335,000 after purchasing an additional 92 shares during the period. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on IT shares. Robert W. Baird lowered their target price on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. UBS Group dropped their target price on shares of Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Morgan Stanley lifted their price target on shares of Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft initiated coverage on Gartner in a report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price target for the company. Finally, StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $474.50.

Gartner Stock Up 0.1 %

Shares of NYSE:IT traded up $0.52 during trading hours on Tuesday, hitting $436.90. The company’s stock had a trading volume of 314,850 shares, compared to its average volume of 408,805. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91. The firm’s fifty day moving average price is $461.54 and its 200 day moving average price is $442.74. Gartner, Inc. has a 52 week low of $300.94 and a 52 week high of $486.54. The company has a market capitalization of $34.07 billion, a price-to-earnings ratio of 43.47, a P/E/G ratio of 3.44 and a beta of 1.32.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, April 30th. The information technology services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.40. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.47 billion. Gartner had a net margin of 13.35% and a return on equity of 141.55%. Gartner’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.88 earnings per share. As a group, research analysts expect that Gartner, Inc. will post 11.55 EPS for the current year.

Insider Buying and Selling

In other news, EVP Akhil Jain sold 250 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $464.55, for a total value of $116,137.50. Following the sale, the executive vice president now directly owns 5,239 shares in the company, valued at approximately $2,433,777.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Gartner news, EVP Akhil Jain sold 250 shares of Gartner stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $464.55, for a total value of $116,137.50. Following the transaction, the executive vice president now directly owns 5,239 shares of the company’s stock, valued at $2,433,777.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James C. Smith sold 10,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $459.68, for a total value of $4,596,800.00. Following the sale, the director now owns 623,235 shares of the company’s stock, valued at approximately $286,488,664.80. The disclosure for this sale can be found here. Insiders sold 22,952 shares of company stock worth $10,598,070 in the last three months. 3.60% of the stock is owned by insiders.

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.