Wedge Capital Management L L P NC Grows Holdings in Gartner, Inc. (NYSE:IT)

Wedge Capital Management L L P NC raised its position in Gartner, Inc. (NYSE:IT) by 11.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 132,107 shares of the information technology services provider’s stock after buying an additional 13,286 shares during the period. Gartner accounts for 1.2% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 16th biggest holding. Wedge Capital Management L L P NC owned 0.17% of Gartner worth $64,002,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Eastern Bank purchased a new position in Gartner in the third quarter valued at about $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Gartner in the 3rd quarter worth approximately $44,000. True Wealth Design LLC lifted its stake in Gartner by 2,350.0% in the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after purchasing an additional 94 shares during the last quarter. Fortitude Family Office LLC grew its holdings 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 purchasing an additional 20 shares during the period. Finally, Asset Dedication LLC increased 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 worth $75,000 after buying an additional 47 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Gartner Trading Up 0.8 %

Gartner stock opened at $516.34 on Friday. The stock has a market cap of $39.83 billion, a P/E ratio of 38.08, a PEG ratio of 2.72 and a beta of 1.33. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $559.00. The firm’s fifty day moving average price is $507.49 and its 200-day moving average price is $498.03. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02.

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, beating the consensus estimate of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the firm posted $2.56 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts forecast that Gartner, Inc. will post 11.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on IT. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $525.00 to $600.00 in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Robert W. Baird boosted their price target on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Morgan Stanley cut their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Wells Fargo & Company lowered their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Gartner has a consensus rating of “Hold” and a consensus price target of $550.75.

Insiders Place Their Bets

In other Gartner news, Director James C. Smith sold 2,450 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $554.68, for a total transaction of $1,358,966.00. Following the transaction, the director now directly owns 529,844 shares in the company, valued at $293,893,869.92. This trade represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William James Wartinbee III sold 189 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $523.54, for a total transaction of $98,949.06. Following the completion of the sale, the executive vice president now owns 7,311 shares of the company’s stock, valued at approximately $3,827,600.94. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,583 shares of company stock valued at $19,241,974 in the last quarter. Corporate insiders own 3.60% of the company’s stock.

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.