Argent Capital Management LLC Acquires 964 Shares of Gartner, Inc. (NYSE:IT)

Argent Capital Management LLC boosted its position in Gartner, Inc. (NYSE:IT) by 9.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,785 shares of the information technology services provider’s stock after buying an additional 964 shares during the quarter. Argent Capital Management LLC’s holdings in Gartner were worth $5,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Baron Wealth Management LLC grew its position in shares of Gartner by 4.1% in the third quarter. Baron Wealth Management LLC now owns 481 shares of the information technology services provider’s stock valued at $244,000 after purchasing an additional 19 shares in the last quarter. Fortitude Family Office LLC boosted its stake in Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after buying an additional 20 shares during the period. Moors & Cabot Inc. lifted its stake in Gartner by 3.0% during the second quarter. Moors & Cabot Inc. now owns 763 shares of the information technology services provider’s stock worth $343,000 after purchasing an additional 22 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in Gartner by 2.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 917 shares of the information technology services provider’s stock worth $444,000 after purchasing an additional 22 shares during the last quarter. Finally, Wallace Advisory Group LLC lifted its stake in Gartner by 2.4% during the second quarter. Wallace Advisory Group LLC now owns 980 shares of the information technology services provider’s stock worth $440,000 after purchasing an additional 23 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Trading Up 2.0 %

NYSE:IT opened at $509.57 on Thursday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $39.30 billion, a price-to-earnings ratio of 37.58, a price-to-earnings-growth ratio of 2.72 and a beta of 1.33. Gartner, Inc. has a one year low of $411.15 and a one year high of $559.00. The business has a fifty day moving average price of $508.69 and a 200-day moving average price of $497.40.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) 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 business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the business posted $2.56 EPS. Gartner’s revenue for the quarter was up 5.4% compared to the same quarter last year. Sell-side analysts forecast that Gartner, Inc. will post 11.87 EPS for the current year.

Insider Activity

In related news, Director James C. Smith sold 17,533 shares of the stock in a transaction dated 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 transaction, the director now owns 532,294 shares of the company’s stock, valued at approximately $291,212,724.46. This trade represents a 3.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Claire Herkes sold 411 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total transaction of $214,229.64. Following the completion of the transaction, the executive vice president now directly owns 1,494 shares of the company’s stock, valued at approximately $778,732.56. The trade was a 21.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,583 shares of company stock worth $19,241,974 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on IT shares. Deutsche Bank Aktiengesellschaft boosted their target price on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird boosted their target price on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $525.00 to $600.00 in a research note on Friday, January 10th. Finally, Morgan Stanley boosted their target price on Gartner from $560.00 to $564.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $551.88.

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.