Icon Wealth Advisors LLC Has $14.35 Million Stock Holdings in Gartner, Inc. (NYSE:IT)

Icon Wealth Advisors LLC raised its holdings in Gartner, Inc. (NYSE:IT) by 498.4% during the third quarter, Holdings Channel reports. The institutional investor owned 28,322 shares of the information technology services provider’s stock after buying an additional 23,589 shares during the quarter. Gartner makes up about 0.5% of Icon Wealth Advisors LLC’s holdings, making the stock its 23rd largest position. Icon Wealth Advisors LLC’s holdings in Gartner were worth $14,352,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Transcend Capital Advisors LLC purchased a new position in Gartner during the 2nd quarter worth $512,000. Tidal Investments LLC boosted its holdings in Gartner by 24.4% during the first quarter. Tidal Investments LLC now owns 9,890 shares of the information technology services provider’s stock worth $4,717,000 after purchasing an additional 1,940 shares during the last quarter. Magnetar Financial LLC bought a new stake in Gartner in the 1st quarter worth about $1,049,000. Swedbank AB purchased a new stake in Gartner in the 1st quarter valued at about $30,735,000. Finally, Cetera Investment Advisers increased its stake in Gartner by 245.0% in the 1st quarter. Cetera Investment Advisers now owns 21,453 shares of the information technology services provider’s stock valued at $10,226,000 after buying an additional 15,235 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on IT. Robert W. Baird upped their target price on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lifted their target price on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Barclays increased their price target on shares of Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Bank of America lifted their price objective on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $539.25.

Insiders Place Their Bets

In related news, EVP Scott Hensel sold 5,580 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $490.00, for a total transaction of $2,734,200.00. Following the completion of the transaction, the executive vice president now directly owns 19,724 shares in the company, valued at $9,664,760. The trade was a 22.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Yvonne Genovese sold 443 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $483.62, for a total value of $214,243.66. Following the completion of the sale, the executive vice president now directly owns 1,959 shares in the company, valued at approximately $947,411.58. The trade was a 18.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,172 shares of company stock worth $38,023,255 in the last quarter. 3.60% of the stock is owned by company insiders.

Gartner Stock Performance

NYSE IT opened at $519.54 on Friday. The firm has a market cap of $40.07 billion, a P/E ratio of 38.31, a price-to-earnings-growth ratio of 3.23 and a beta of 1.32. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. The company’s 50 day moving average is $519.61 and its 200-day moving average is $479.95. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $559.00.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.56 EPS. Sell-side analysts predict that Gartner, Inc. will post 11.89 earnings per share for the current 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.