Hanson & Doremus Investment Management Purchases Shares of 300 Gartner, Inc. (NYSE:IT)

Hanson & Doremus Investment Management purchased a new stake in Gartner, Inc. (NYSE:IT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 300 shares of the information technology services provider’s stock, valued at approximately $145,000.

Other hedge funds also recently added to or reduced their stakes in the company. Czech National Bank increased its stake in Gartner by 6.5% in the fourth quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock valued at $8,103,000 after purchasing an additional 1,028 shares during the last quarter. Assetmark Inc. increased its stake in Gartner by 70.0% in the third quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider’s stock valued at $2,607,000 after purchasing an additional 2,118 shares during the last quarter. ING Groep NV increased its stake in Gartner by 38.4% in the third quarter. ING Groep NV now owns 10,306 shares of the information technology services provider’s stock valued at $5,223,000 after purchasing an additional 2,860 shares during the last quarter. Barclays PLC increased its stake in Gartner by 8.6% in the third quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock valued at $84,520,000 after purchasing an additional 13,205 shares during the last quarter. Finally, Mizuho Securities USA LLC increased its stake in Gartner by 1,074.8% in the third quarter. Mizuho Securities USA LLC now owns 70,312 shares of the information technology services provider’s stock valued at $35,631,000 after purchasing an additional 64,327 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Robert W. Baird increased their price target on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft increased 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 raised Gartner from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $525.00 to $600.00 in a report on Friday, January 10th. Morgan Stanley decreased their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Finally, StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Gartner has an average rating of “Hold” and an average price target of $550.75.

Insider Buying and Selling at Gartner

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

Gartner Price Performance

Shares of NYSE IT opened at $548.69 on Friday. 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 stock has a fifty day moving average price of $507.44 and a 200 day moving average price of $503.18. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $559.00. The company has a market cap of $42.32 billion, a PE ratio of 40.46, a P/E/G ratio of 2.92 and a beta of 1.33.

Gartner (NYSE:IT) last released its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating 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 the consensus estimate of $1.48 billion. During the same quarter last year, the company earned $2.56 earnings per share. Gartner’s quarterly revenue 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.

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.