Larson Financial Group LLC Makes New Investment in Gartner, Inc. (NYSE:IT)

Larson Financial Group LLC purchased a new stake in shares of Gartner, Inc. (NYSE:IT) in the third quarter, according to its most recent filing with the SEC. The firm purchased 870 shares of the information technology services provider’s stock, valued at approximately $441,000.

Several other institutional investors have also modified their holdings of IT. B. Riley Wealth Advisors Inc. boosted its position in shares of Gartner by 20.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 593 shares of the information technology services provider’s stock worth $283,000 after buying an additional 102 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Gartner by 24.4% in the first quarter. Tidal Investments LLC now owns 9,890 shares of the information technology services provider’s stock valued at $4,717,000 after purchasing an additional 1,940 shares in the last quarter. Plato Investment Management Ltd grew its position in shares of Gartner by 2,455.8% in the first quarter. Plato Investment Management Ltd now owns 2,198 shares of the information technology services provider’s stock valued at $1,048,000 after purchasing an additional 2,112 shares during the last quarter. Wahed Invest LLC increased its stake in shares of Gartner by 13.2% during the 1st quarter. Wahed Invest LLC now owns 1,481 shares of the information technology services provider’s stock worth $706,000 after purchasing an additional 173 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Gartner during the 1st quarter worth approximately $1,513,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on IT. Deutsche Bank Aktiengesellschaft increased their target price on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Robert W. Baird lifted their price objective on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Barclays upped their target price on shares of Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. BMO Capital Markets lifted their price target on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company upped their price objective on shares of Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $539.25.

Insider Buying and Selling at Gartner

In other Gartner news, EVP Scott Hensel sold 5,580 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $490.00, for a total transaction of $2,734,200.00. Following the completion of the sale, the executive vice president now directly owns 19,724 shares in the company, valued at $9,664,760. The trade was a 22.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James C. Smith sold 2,450 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $554.68, for a total transaction of $1,358,966.00. Following the completion of the sale, the director now directly owns 529,844 shares of the company’s stock, valued at $293,893,869.92. The trade was a 0.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,729 shares of company stock valued at $37,809,011. Company insiders own 3.60% of the company’s stock.

Gartner Price Performance

IT opened at $523.13 on Wednesday. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $559.00. The company’s 50 day simple moving average is $520.24 and its 200 day simple moving average is $482.02. The stock has a market capitalization of $40.35 billion, a PE ratio of 38.58, a P/E/G ratio of 3.25 and a beta of 1.32. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. Gartner’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the business earned $2.56 EPS. As a group, sell-side analysts expect that Gartner, Inc. will post 11.89 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.