Castlekeep Investment Advisors LLC Takes $4.93 Million Position in Gartner, Inc. (NYSE:IT)

Castlekeep Investment Advisors LLC acquired a new position in Gartner, Inc. (NYSE:IT) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 10,174 shares of the information technology services provider’s stock, valued at approximately $4,929,000.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Gartner during the fourth quarter worth $460,541,000. Madison Investment Advisors LLC acquired a new position in Gartner in the 4th quarter worth about $244,799,000. Raymond James Financial Inc. purchased a new stake in shares of Gartner during the 4th quarter worth about $165,476,000. BNP Paribas Financial Markets lifted its holdings in shares of Gartner by 184.6% during the 4th quarter. BNP Paribas Financial Markets now owns 390,472 shares of the information technology services provider’s stock valued at $189,172,000 after buying an additional 253,288 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Gartner by 8.6% in the 4th quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider’s stock valued at $1,367,233,000 after buying an additional 223,087 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Trading Up 1.9 %

Shares of NYSE:IT opened at $427.76 on Monday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The stock’s 50-day moving average is $429.83 and its 200-day moving average is $485.07. The company has a market cap of $32.86 billion, a P/E ratio of 26.68, a P/E/G ratio of 3.30 and a beta of 1.26. Gartner, Inc. has a 52-week low of $366.05 and a 52-week high of $584.01.

Gartner (NYSE:IT) last released its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the firm posted $3.04 EPS. The company’s revenue was up 8.1% on a year-over-year basis. Equities research analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $530.51, for a total value 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 $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the director now owns 1,627 shares in the company, valued at $796,855.79. This represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

IT has been the topic of several recent research reports. UBS Group cut their price objective on shares of Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Morgan Stanley lowered their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Wells Fargo & Company reduced their price target on Gartner from $401.00 to $400.00 and set an “underweight” rating for the company in a research report on Thursday. Finally, Robert W. Baird lowered their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Gartner currently has an average rating of “Hold” and an average price target of $513.50.

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.