Vestcor Inc Has $1.19 Million Holdings in Gartner, Inc. (NYSE:IT)

Vestcor Inc lifted its holdings in Gartner, Inc. (NYSE:IT) by 14.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,459 shares of the information technology services provider’s stock after purchasing an additional 312 shares during the quarter. Vestcor Inc’s holdings in Gartner were worth $1,191,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Kestra Investment Management LLC acquired a new position in shares of Gartner during the 4th quarter worth approximately $29,000. True Wealth Design LLC lifted its holdings in 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 valued at $50,000 after purchasing an additional 94 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Gartner during the fourth quarter worth $49,000. Promus Capital LLC acquired a new position in shares of Gartner in the fourth quarter valued at $57,000. Finally, Global Retirement Partners LLC raised its position in shares of Gartner by 14.0% in the fourth quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock valued at $134,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Trading Up 1.2 %

IT opened at $457.45 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $584.01. The stock has a market capitalization of $35.14 billion, a price-to-earnings ratio of 28.54, a P/E/G ratio of 3.30 and a beta of 1.29. The company has a 50-day simple moving average of $507.51 and a 200 day simple moving average of $509.44.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the firm posted $3.04 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. Analysts predict that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on IT shares. Barclays upgraded shares of 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 note on Friday, January 10th. Morgan Stanley lowered their target price on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Robert W. Baird boosted their price target on Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Wells Fargo & Company lowered their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research report on Friday, January 10th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $552.63.

Insider Activity

In other news, Director Eileen Serra sold 1,200 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the transaction, the director now directly owns 1,627 shares in the company, valued at approximately $796,855.79. This represents a 42.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares in the company, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

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.