SVB Wealth LLC Buys New Position in Gartner, Inc. (NYSE:IT)

SVB Wealth LLC bought a new stake in shares of Gartner, Inc. (NYSE:IT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,108 shares of the information technology services provider’s stock, valued at approximately $3,444,000.

Other large investors also recently added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new position in shares of Gartner in the fourth quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new position in shares of Gartner during the third quarter worth $44,000. True Wealth Design LLC boosted its position in shares of Gartner by 2,350.0% during the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after acquiring an additional 94 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Gartner during the third quarter worth $77,000. Finally, Global Retirement Partners LLC boosted its position in shares of Gartner by 14.0% during the fourth quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock worth $134,000 after acquiring an additional 34 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Wells Fargo & Company decreased their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Barclays raised 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. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Gartner currently has a consensus rating of “Hold” and an average price target of $552.63.

Insider Activity

In related news, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the transaction, the senior vice president now owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP William James Wartinbee III sold 189 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $523.54, for a total transaction 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. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,479 shares of company stock valued at $734,419. 3.60% of the stock is currently owned by company insiders.

Gartner Trading Up 1.5 %

Shares of IT opened at $498.63 on Friday. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $584.01. The company has a market cap of $38.30 billion, a P/E ratio of 31.11, a P/E/G ratio of 3.30 and a beta of 1.34. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The company’s fifty day simple moving average is $510.13 and its 200-day simple moving average is $509.84.

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

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.