Pittenger & Anderson Inc. Acquires 550 Shares of Gartner, Inc. (NYSE:IT)

Pittenger & Anderson Inc. increased its stake in shares of Gartner, Inc. (NYSE:IT) by 1,833.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 580 shares of the information technology services provider’s stock after purchasing an additional 550 shares during the period. Pittenger & Anderson Inc.’s holdings in Gartner were worth $262,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BSW Wealth Partners lifted its holdings in shares of Gartner by 3.7% in the fourth quarter. BSW Wealth Partners now owns 617 shares of the information technology services provider’s stock valued at $278,000 after purchasing an additional 22 shares in the last quarter. Allworth Financial LP raised its stake in Gartner by 2.8% in the fourth quarter. Allworth Financial LP now owns 807 shares of the information technology services provider’s stock valued at $364,000 after buying an additional 22 shares during the period. AdvisorNet Financial Inc raised its stake in Gartner by 59.5% in the fourth quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 25 shares during the period. Kolinsky Wealth Management LLC raised its stake in Gartner by 3.9% in the third quarter. Kolinsky Wealth Management LLC now owns 720 shares of the information technology services provider’s stock valued at $247,000 after buying an additional 27 shares during the period. Finally, HB Wealth Management LLC raised its stake in Gartner by 2.6% in the fourth quarter. HB Wealth Management LLC now owns 1,073 shares of the information technology services provider’s stock valued at $484,000 after buying an additional 27 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Gartner news, EVP Claire Herkes sold 1,460 shares of Gartner stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $475.76, for a total transaction of $694,609.60. Following the transaction, the executive vice president now owns 2,842 shares of the company’s stock, valued at approximately $1,352,109.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Valentin Sribar sold 682 shares of Gartner stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $453.00, for a total value of $308,946.00. Following the sale, the executive vice president now owns 12,269 shares of the company’s stock, valued at approximately $5,557,857. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Claire Herkes sold 1,460 shares of Gartner stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $475.76, for a total transaction of $694,609.60. Following the completion of the sale, the executive vice president now directly owns 2,842 shares in the company, valued at approximately $1,352,109.92. The disclosure for this sale can be found here. Insiders have sold a total of 22,952 shares of company stock valued at $10,598,070 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. BMO Capital Markets upped their target price on Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a research report on Thursday, February 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Gartner in a research report on Tuesday, April 16th. They set a “hold” rating and a $507.00 price target on the stock. UBS Group raised Gartner from a “neutral” rating to a “buy” rating and increased their price target for the stock from $484.00 to $550.00 in a research report on Thursday, April 11th. Morgan Stanley increased their price target on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Finally, StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $477.60.

Gartner Trading Down 1.1 %

NYSE:IT traded down $4.75 during trading hours on Thursday, hitting $446.31. 362,984 shares of the company were exchanged, compared to its average volume of 387,396. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.60. The company has a fifty day simple moving average of $465.01 and a 200 day simple moving average of $437.16. The stock has a market capitalization of $34.80 billion, a price-to-earnings ratio of 40.55, a price-to-earnings-growth ratio of 4.13 and a beta of 1.29. Gartner, Inc. has a one year low of $292.60 and a one year high of $486.54.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.21. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.70 EPS. Sell-side analysts expect that Gartner, Inc. will post 11.3 EPS for the current fiscal year.

About Gartner

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.