Sherbrooke Park Advisers LLC Invests $1.62 Million in Gartner, Inc. (NYSE:IT)

Sherbrooke Park Advisers LLC purchased a new stake in shares of Gartner, Inc. (NYSE:IT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,343 shares of the information technology services provider’s stock, valued at approximately $1,620,000. Gartner makes up about 0.5% of Sherbrooke Park Advisers LLC’s portfolio, making the stock its 8th largest holding.

Several other hedge funds have also recently modified their holdings of IT. Cary Street Partners Financial LLC bought a new stake in Gartner in the 4th quarter worth approximately $27,000. Kestra Investment Management LLC bought a new stake in shares of Gartner in the fourth quarter worth $29,000. Itau Unibanco Holding S.A. grew its holdings in shares of Gartner by 453.3% in the fourth quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider’s stock worth $40,000 after acquiring an additional 68 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Gartner during the fourth quarter valued at $49,000. Finally, Promus Capital LLC bought a new position in Gartner in the fourth quarter valued at about $57,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Stock Performance

IT opened at $446.40 on Friday. The firm has a market capitalization of $34.29 billion, a PE ratio of 27.85, a P/E/G ratio of 3.30 and a beta of 1.24. The firm has a 50 day moving average of $421.17 and a two-hundred day moving average of $480.47. Gartner, Inc. has a 12-month low of $366.05 and a 12-month high of $584.01. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, beating the consensus estimate of $2.72 by $0.26. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the business earned $2.93 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. On average, analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current year.

Wall Street Analyst Weigh In

IT has been the topic of several recent research reports. Morgan Stanley lowered their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Robert W. Baird dropped their price target on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Wells Fargo & Company reduced their price objective on Gartner from $401.00 to $400.00 and set an “underweight” rating for the company in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group reduced their price target on Gartner from $622.00 to $535.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Gartner currently has an average rating of “Hold” and a consensus target price of $518.67.

Insider Buying and Selling

In other news, CFO Craig Safian sold 3,415 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $450.17, for a total value of $1,537,330.55. Following the completion of the sale, the chief financial officer now directly owns 77,890 shares in the company, valued at $35,063,741.30. This represents a 4.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eileen Serra sold 1,200 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was 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 disclosure for this sale can be found here. In the last three months, insiders have sold 6,001 shares of company stock worth $2,736,801. Insiders own 2.30% of the company’s stock.

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.