Virtue Capital Management LLC Makes New Investment in Gartner, Inc. (NYSE:IT)

Virtue Capital Management LLC purchased a new position in shares of Gartner, Inc. (NYSE:IT) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 404 shares of the information technology services provider’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. lifted its position in Gartner by 10.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,256 shares of the information technology services provider’s stock worth $1,148,000 after acquiring an additional 215 shares during the period. Geode Capital Management LLC lifted its position in Gartner by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider’s stock worth $1,020,378,000 after acquiring an additional 36,698 shares during the period. Barclays PLC lifted its holdings in shares of Gartner by 8.6% in the 3rd quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock valued at $84,520,000 after buying an additional 13,205 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Gartner by 9.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 41,256 shares of the information technology services provider’s stock valued at $20,907,000 after buying an additional 3,595 shares during the period. Finally, Northeast Financial Consultants Inc acquired a new position in shares of Gartner in the 3rd quarter valued at about $203,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Stock Performance

NYSE IT opened at $514.20 on Friday. The stock has a market capitalization of $39.66 billion, a price-to-earnings ratio of 37.92, a PEG ratio of 3.23 and a beta of 1.31. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $559.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The stock has a 50-day moving average of $522.24 and a 200 day moving average of $488.03.

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

Analysts Set New Price Targets

IT has been the subject of several analyst reports. Wells Fargo & Company boosted their price objective on Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. Morgan Stanley boosted their price objective on Gartner from $560.00 to $564.00 and gave the company an “equal weight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price objective on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Barclays boosted their price objective on Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Finally, Robert W. Baird boosted their price objective on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. 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, Gartner presently has an average rating of “Hold” and an average target price of $543.75.

Insiders Place Their Bets

In other news, EVP Claire Herkes sold 411 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total value of $214,229.64. Following the completion of the sale, the executive vice president now directly owns 1,494 shares in the company, valued at $778,732.56. This represents a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James C. Smith sold 17,533 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $547.09, for a total value of $9,592,128.97. Following the completion of the sale, the director now owns 532,294 shares of the company’s stock, valued at $291,212,724.46. This trade represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 35,583 shares of company stock worth $19,241,974. Corporate insiders own 3.60% of the company’s stock.

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.