Aptus Capital Advisors LLC Raises Stake in Gartner, Inc. (NYSE:IT)

Aptus Capital Advisors LLC boosted its holdings in shares of Gartner, Inc. (NYSE:IT) by 10.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 868 shares of the information technology services provider’s stock after acquiring an additional 82 shares during the period. Aptus Capital Advisors LLC’s holdings in Gartner were worth $440,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of IT. Aigen Investment Management LP purchased a new position in Gartner in the third quarter worth about $206,000. Prime Capital Investment Advisors LLC raised its holdings in Gartner by 5.2% in the third quarter. Prime Capital Investment Advisors LLC now owns 507 shares of the information technology services provider’s stock worth $257,000 after buying an additional 25 shares during the last quarter. Platform Technology Partners purchased a new position in shares of Gartner during the third quarter valued at approximately $210,000. Apollon Wealth Management LLC raised its holdings in shares of Gartner by 19.4% during the third quarter. Apollon Wealth Management LLC now owns 1,014 shares of the information technology services provider’s stock valued at $514,000 after purchasing an additional 165 shares during the last quarter. Finally, WCM Investment Management LLC raised its holdings in shares of Gartner by 18.5% during the third quarter. WCM Investment Management LLC now owns 21,275 shares of the information technology services provider’s stock valued at $10,828,000 after purchasing an additional 3,320 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on IT. Bank of America boosted their target price on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets boosted their target price on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Wells Fargo & Company boosted their target price on shares of Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Finally, Robert W. Baird boosted their target price on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Gartner has an average rating of “Hold” and an average target price of $539.25.

Insiders Place Their Bets

In related news, EVP Scott Hensel sold 5,580 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $490.00, for a total value of $2,734,200.00. Following the completion of the transaction, the executive vice president now directly owns 19,724 shares of the company’s stock, valued at $9,664,760. This represents a 22.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Yvonne Genovese sold 443 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $483.62, for a total value of $214,243.66. Following the completion of the sale, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at $947,411.58. The trade was a 18.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,172 shares of company stock valued at $38,023,255 in the last 90 days. 3.60% of the stock is owned by insiders.

Gartner Stock Performance

IT opened at $522.77 on Friday. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $559.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The firm has a market capitalization of $40.28 billion, a PE ratio of 38.55, a P/E/G ratio of 3.45 and a beta of 1.32. The firm has a 50 day moving average of $518.32 and a two-hundred day moving average of $477.49.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.05. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.56 EPS. On average, analysts anticipate that Gartner, Inc. will post 11.89 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.