Tidal Investments LLC Buys 1,940 Shares of Gartner, Inc. (NYSE:IT)

Tidal Investments LLC grew its stake in Gartner, Inc. (NYSE:IT) by 24.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,890 shares of the information technology services provider’s stock after acquiring an additional 1,940 shares during the period. Tidal Investments LLC’s holdings in Gartner were worth $4,717,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. BSW Wealth Partners grew its stake in Gartner by 3.7% in the 4th quarter. BSW Wealth Partners now owns 617 shares of the information technology services provider’s stock worth $278,000 after acquiring an additional 22 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Gartner by 2.8% during the fourth quarter. Allworth Financial LP now owns 807 shares of the information technology services provider’s stock valued at $364,000 after purchasing an additional 22 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in shares of Gartner by 0.5% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 4,900 shares of the information technology services provider’s stock valued at $2,210,000 after purchasing an additional 22 shares in the last quarter. TIAA Trust National Association boosted its stake in shares of Gartner by 3.2% during the first quarter. TIAA Trust National Association now owns 744 shares of the information technology services provider’s stock valued at $355,000 after purchasing an additional 23 shares in the last quarter. Finally, AdvisorNet Financial Inc boosted its stake in shares of Gartner by 59.5% during the fourth quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 25 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on IT shares. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Robert W. Baird increased their target price on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a research report on Wednesday. Morgan Stanley increased their target price on shares of Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of Gartner in a research report on Tuesday, April 16th. They set a “hold” rating and a $507.00 target price for the company. Finally, Bank of America increased their target price on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $521.00.

Insider Activity

In other news, Director James C. Smith sold 10,000 shares of Gartner stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $455.20, for a total value of $4,552,000.00. Following the sale, the director now owns 608,369 shares in the company, valued at $276,929,568.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Alwyn Dawkins sold 600 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $447.63, for a total value of $268,578.00. Following the transaction, the executive vice president now directly owns 51,583 shares of the company’s stock, valued at $23,090,098.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James C. Smith sold 10,000 shares of Gartner stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $455.20, for a total transaction of $4,552,000.00. Following the transaction, the director now directly owns 608,369 shares in the company, valued at $276,929,568.80. The disclosure for this sale can be found here. Insiders have sold a total of 22,544 shares of company stock worth $10,079,813 over the last 90 days. 3.60% of the stock is currently owned by company insiders.

Gartner Stock Performance

IT stock traded down $6.92 during midday trading on Friday, hitting $486.35. 14,567 shares of the stock traded hands, compared to its average volume of 406,266. The firm has a market cap of $37.76 billion, a P/E ratio of 49.08, a PEG ratio of 4.32 and a beta of 1.33. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91. The stock’s fifty day simple moving average is $449.11 and its 200-day simple moving average is $454.97. Gartner, Inc. has a 1-year low of $323.61 and a 1-year high of $509.15.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, beating the consensus estimate of $3.02 by $0.20. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Gartner had a net margin of 13.67% and a return on equity of 141.59%. During the same quarter last year, the business earned $2.85 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. On average, analysts expect that Gartner, Inc. will post 11.67 earnings per share for the current 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.