Argent Capital Management LLC Purchases 1,918 Shares of Gartner, Inc. (NYSE:IT)

Argent Capital Management LLC lifted its position in Gartner, Inc. (NYSE:IT) by 24.3% in the 3rd quarter, Holdings Channel reports. The fund owned 9,821 shares of the information technology services provider’s stock after acquiring an additional 1,918 shares during the quarter. Argent Capital Management LLC’s holdings in Gartner were worth $4,977,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Eastern Bank purchased a new stake in Gartner in the third quarter worth $26,000. Central Pacific Bank Trust Division purchased a new stake in shares of Gartner in the 1st quarter worth about $36,000. Crewe Advisors LLC increased its stake in shares of Gartner by 223.3% in the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after acquiring an additional 67 shares in the last quarter. J.Safra Asset Management Corp lifted its position in Gartner by 58.7% during the 1st quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock valued at $70,000 after acquiring an additional 54 shares during the period. Finally, Asset Dedication LLC boosted its stake in Gartner by 46.5% during the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock worth $75,000 after acquiring an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on IT shares. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. BMO Capital Markets raised their price objective on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Robert W. Baird boosted their target price on Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. UBS Group raised their price target on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company lifted their price target on Gartner from $435.00 to $460.00 and gave the stock an “underweight” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Gartner presently has a consensus rating of “Hold” and a consensus price target of $532.86.

Insider Activity

In related news, EVP Alwyn Dawkins sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total value of $505,490.00. Following the sale, the executive vice president now owns 56,650 shares in the company, valued at approximately $28,636,008.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Gartner news, EVP Alwyn Dawkins sold 1,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $505.49, for a total value of $505,490.00. Following the transaction, the executive vice president now owns 56,650 shares of the company’s stock, valued at approximately $28,636,008.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Akhil Jain sold 400 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $485.00, for a total value of $194,000.00. Following the sale, the executive vice president now owns 4,839 shares of the company’s stock, valued at approximately $2,346,915. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,164 shares of company stock valued at $32,601,014 over the last three months. Insiders own 3.60% of the company’s stock.

Gartner Stock Down 0.5 %

Shares of IT stock traded down $2.36 during mid-day trading on Thursday, hitting $518.49. The company’s stock had a trading volume of 30,732 shares, compared to its average volume of 368,098. The stock has a market cap of $40.25 billion, a price-to-earnings ratio of 51.83, a PEG ratio of 3.23 and a beta of 1.32. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. Gartner, Inc. has a 52-week low of $323.61 and a 52-week high of $535.29. The business has a 50-day moving average price of $504.06 and a 200 day moving average price of $469.31.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. Gartner’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.85 EPS. Research analysts predict that Gartner, Inc. will post 11.65 EPS for the current fiscal year.

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.