Wallace Advisory Group LLC Has $499,000 Holdings in Gartner, Inc. (NYSE:IT)

Wallace Advisory Group LLC raised its holdings in shares of Gartner, Inc. (NYSE:IT) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 984 shares of the information technology services provider’s stock after buying an additional 26 shares during the quarter. Wallace Advisory Group LLC’s holdings in Gartner were worth $499,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of IT. Point72 Asset Management L.P. acquired a new position in shares of Gartner in the third quarter valued at $70,955,000. Principal Financial Group Inc. raised its stake in shares of Gartner by 5.5% in the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock valued at $1,014,099,000 after purchasing an additional 103,814 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Gartner in the third quarter valued at $36,789,000. JPMorgan Chase & Co. raised its stake in shares of Gartner by 7.3% in the third quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock valued at $525,272,000 after purchasing an additional 70,236 shares in the last quarter. Finally, Mizuho Securities USA LLC raised its stake in shares of Gartner by 1,074.8% in the third quarter. Mizuho Securities USA LLC now owns 70,312 shares of the information technology services provider’s stock valued at $35,631,000 after purchasing an additional 64,327 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Robert W. Baird upped their target price on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $525.00 to $600.00 in a research report on Friday. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Morgan Stanley upped their price target on Gartner from $560.00 to $564.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Gartner has a consensus rating of “Hold” and an average price target of $551.88.

Gartner Price Performance

Shares of IT stock opened at $492.83 on Tuesday. The stock’s fifty day moving average is $509.51 and its 200-day moving average is $496.96. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $38.01 billion, a PE ratio of 36.34, a PEG ratio of 3.18 and a beta of 1.33. Gartner, Inc. has a 52 week low of $411.15 and a 52 week high of $559.00.

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

Insider Activity at Gartner

In other Gartner news, Director James C. Smith sold 10,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $535.76, for a total value of $5,357,600.00. Following the transaction, the director now owns 554,274 shares of the company’s stock, valued at approximately $296,957,838.24. This represents a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP William James Wartinbee III sold 189 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $523.54, for a total value of $98,949.06. Following the completion of the transaction, the executive vice president now directly owns 7,311 shares in the company, valued at $3,827,600.94. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,583 shares of company stock worth $19,241,974 over the last 90 days. Insiders own 3.60% of the company’s stock.

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.