Larson Financial Group LLC Takes $441,000 Position in Gartner, Inc. (NYSE:IT)

Larson Financial Group LLC bought a new position in shares of Gartner, Inc. (NYSE:IT) during the third quarter, HoldingsChannel reports. The institutional investor bought 870 shares of the information technology services provider’s stock, valued at approximately $441,000.

Several other institutional investors and hedge funds have also made changes to their positions in IT. Transcend Capital Advisors LLC purchased a new position in Gartner in the 2nd quarter valued at about $512,000. Tidal Investments LLC increased its position in shares of 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 acquiring an additional 1,940 shares during the last quarter. Swedbank AB purchased a new position in Gartner in the first quarter valued at about $30,735,000. Cetera Investment Advisers grew its stake in Gartner by 245.0% during 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 purchasing an additional 15,235 shares in the last quarter. Finally, Choreo LLC purchased a new stake in Gartner during the 2nd quarter worth approximately $722,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IT. Barclays raised their price target on shares of Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. UBS Group boosted their target price on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their price target 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. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company increased their target price on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $539.25.

Insiders Place Their Bets

In other news, EVP Scott Hensel sold 5,580 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 19,724 shares of the company’s stock, valued at $9,664,760. This trade represents a 22.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Akhil Jain sold 500 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $492.00, for a total value of $246,000.00. Following the sale, the executive vice president now directly owns 4,339 shares in the company, valued at $2,134,788. This trade represents a 10.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,729 shares of company stock worth $37,809,011. 3.60% of the stock is owned by corporate insiders.

Gartner Price Performance

NYSE IT opened at $523.13 on Wednesday. The firm has a market capitalization of $40.35 billion, a PE ratio of 38.58, a P/E/G ratio of 3.25 and a beta of 1.32. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $559.00. The company’s 50 day simple moving average is $520.24 and its 200 day simple moving average is $482.02.

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, beating the consensus estimate of $2.45 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $2.56 EPS. As a group, equities research analysts forecast that Gartner, Inc. will post 11.89 EPS for the current fiscal 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.