Trust Point Inc. Acquires 23 Shares of Gartner, Inc. (NYSE:IT)

Trust Point Inc. boosted its holdings in Gartner, Inc. (NYSE:IT) by 3.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 746 shares of the information technology services provider’s stock after buying an additional 23 shares during the quarter. Trust Point Inc.’s holdings in Gartner were worth $378,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IT. Central Pacific Bank Trust Division bought a new stake in shares of Gartner during the first quarter worth $36,000. Crewe Advisors LLC grew its position in Gartner by 223.3% during the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after acquiring an additional 67 shares during the last quarter. J.Safra Asset Management Corp increased its holdings in Gartner by 58.7% in the 1st quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock worth $70,000 after purchasing an additional 54 shares in the last quarter. Asset Dedication LLC raised its position in Gartner by 46.5% in the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock valued at $75,000 after purchasing an additional 47 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new stake in shares of Gartner during the second quarter valued at about $94,000. Institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

Shares of NYSE IT opened at $531.09 on Friday. The company has a market capitalization of $41.23 billion, a PE ratio of 52.84, a P/E/G ratio of 3.23 and a beta of 1.32. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 3.80. Gartner, Inc. has a twelve month low of $323.61 and a twelve month high of $535.29. The firm has a fifty day simple moving average of $501.22 and a 200 day simple moving average of $468.12.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $2.85 EPS. On average, sell-side analysts forecast that Gartner, Inc. will post 11.65 EPS for the current year.

Insiders Place Their Bets

In other Gartner news, EVP Alwyn Dawkins sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $505.49, for a total transaction of $505,490.00. Following the transaction, the executive vice president now directly owns 56,650 shares in the company, valued at approximately $28,636,008.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Alwyn Dawkins sold 1,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total transaction of $505,490.00. Following the transaction, the executive vice president now owns 56,650 shares in the company, valued at approximately $28,636,008.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Akhil Jain sold 400 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $485.00, for a total value of $194,000.00. Following the completion of the sale, the executive vice president now owns 4,839 shares of the company’s stock, valued at approximately $2,346,915. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,164 shares of company stock worth $32,601,014. 3.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IT. Bank of America upped their price objective on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company upped their price target on shares of Gartner from $435.00 to $460.00 and gave the company an “underweight” rating in a research report on Monday, October 14th. 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. Morgan Stanley increased their price objective on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Finally, UBS Group lifted their target price on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $532.86.

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.