Frank Rimerman Advisors LLC Purchases New Stake in Gartner, Inc. (NYSE:IT)

Frank Rimerman Advisors LLC purchased a new stake in Gartner, Inc. (NYSE:IT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 490 shares of the information technology services provider’s stock, valued at approximately $206,000.

Several other hedge funds have also bought and sold shares of IT. Cary Street Partners Financial LLC bought a new stake in shares of Gartner in the 4th quarter worth $27,000. Itau Unibanco Holding S.A. boosted its position 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 valued at $40,000 after acquiring an additional 68 shares during the period. Olde Wealth Management LLC bought a new position in shares of Gartner in the first quarter valued at approximately $42,000. GW&K Investment Management LLC boosted its position in shares of Gartner by 210.8% in the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 78 shares during the period. Finally, Wayfinding Financial LLC purchased a new stake in Gartner in the first quarter valued at approximately $55,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insiders Place Their Bets

In other Gartner news, EVP Akhil Jain sold 625 shares of the business’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $450.00, for a total value of $281,250.00. Following the completion of the transaction, the executive vice president owned 6,548 shares of the company’s stock, valued at approximately $2,946,600. The trade was a 8.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IT. Barclays lowered their target price on shares of Gartner from $475.00 to $320.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 6th. BMO Capital Markets cut their target price on shares of Gartner from $409.00 to $272.00 and set a “market perform” rating on the stock in a report on Wednesday, August 6th. UBS Group restated a “neutral” rating and issued a $270.00 target price (down previously from $480.00) on shares of Gartner in a report on Wednesday, August 6th. The Goldman Sachs Group reduced their price objective on shares of Gartner from $535.00 to $457.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Finally, Morgan Stanley dropped their target price on shares of Gartner from $455.00 to $322.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $369.25.

Gartner Price Performance

IT opened at $226.00 on Tuesday. The stock has a 50-day moving average price of $371.31 and a 200-day moving average price of $425.49. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $17.39 billion, a PE ratio of 13.91 and a beta of 1.19. Gartner, Inc. has a 1 year low of $225.78 and a 1 year high of $584.01.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share for the quarter, topping analysts’ consensus estimates of $3.38 by $0.15. Gartner had a return on equity of 82.63% and a net margin of 19.71%. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the firm earned $3.22 EPS. Gartner’s revenue was up 5.7% on a year-over-year basis. Sell-side analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

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.