Magnetar Financial LLC Purchases Shares of 10,035 Gartner, Inc. (NYSE:IT)

Magnetar Financial LLC purchased a new stake in shares of Gartner, Inc. (NYSE:IT) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 10,035 shares of the information technology services provider’s stock, valued at approximately $4,862,000.

Several other institutional investors have also recently made changes to their positions in the business. Kestra Investment Management LLC bought a new stake in Gartner during the fourth quarter valued at approximately $29,000. True Wealth Design LLC grew its position in shares of Gartner by 2,350.0% during the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after acquiring an additional 94 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Gartner during the 4th quarter valued at $49,000. Promus Capital LLC purchased a new stake in shares of Gartner in the 4th quarter worth $57,000. Finally, Global Retirement Partners LLC raised its holdings in Gartner by 14.0% in the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock worth $134,000 after purchasing an additional 34 shares during the period. Institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IT. Morgan Stanley cut their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company decreased their price objective on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Gartner currently has an average rating of “Moderate Buy” and a consensus price target of $552.63.

Insider Activity at Gartner

In other news, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the sale, the director now directly owns 1,627 shares in the company, valued at $796,855.79. The trade was a 42.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP John J. Rinello sold 90 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the transaction, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. The trade was a 2.69 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is owned by corporate insiders.

Gartner Price Performance

Shares of NYSE:IT opened at $448.70 on Thursday. The firm has a market cap of $34.47 billion, a price-to-earnings ratio of 27.99, a P/E/G ratio of 3.30 and a beta of 1.29. The firm has a fifty day moving average price of $505.08 and a 200 day moving average price of $508.72. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $584.01. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating the consensus estimate of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the firm earned $3.04 EPS. The business’s revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

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.