Hurley Capital LLC Acquires Shares of 149 Gartner, Inc. (NYSE:IT)

Hurley Capital LLC purchased a new stake in Gartner, Inc. (NYSE:IT) during the 4th quarter, HoldingsChannel reports. The fund purchased 149 shares of the information technology services provider’s stock, valued at approximately $73,000.

A number of other institutional investors also recently modified their holdings of IT. Czech National Bank increased its position in shares of Gartner by 6.5% during 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 buying an additional 1,028 shares during the period. Entropy Technologies LP purchased a new position in shares of Gartner during the 4th quarter valued at about $366,000. D.A. Davidson & CO. boosted its stake in Gartner by 2.6% in the fourth quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider’s stock worth $551,000 after buying an additional 29 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of Gartner by 1.5% in the 4th quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider’s stock worth $15,322,000 after acquiring an additional 480 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Gartner by 8.6% during the 3rd 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. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Price Performance

IT stock opened at $383.12 on Friday. The company has a market capitalization of $29.43 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29. The company’s fifty day moving average price is $482.71 and its 200-day moving average price is $502.19. Gartner, Inc. has a one year low of $382.23 and a one year 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 issued its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $2.23. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.04 EPS. On average, equities analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Wells Fargo & Company dropped 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. Robert W. Baird cut their price target on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Morgan Stanley decreased their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Finally, UBS Group lowered their price target on Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $525.38.

Insider Activity at Gartner

In other news, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the sale, the director now directly owns 1,627 shares in the company, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John J. Rinello sold 90 shares of the business’s 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 sale, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

Gartner Company 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.