Avestar Capital LLC Increases Holdings in Gartner, Inc. (NYSE:IT)

Avestar Capital LLC increased its stake in shares of Gartner, Inc. (NYSE:IT) by 15.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 934 shares of the information technology services provider’s stock after acquiring an additional 123 shares during the quarter. Avestar Capital LLC’s holdings in Gartner were worth $452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of IT. Eastern Bank bought a new position in Gartner during the 3rd quarter worth approximately $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Gartner in the 3rd quarter worth approximately $44,000. True Wealth Design LLC grew its position in shares of Gartner by 2,350.0% in the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after buying an additional 94 shares during the last quarter. Fortitude Family Office LLC grew its position in shares of Gartner by 23.8% in the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after buying an additional 20 shares during the last quarter. Finally, Asset Dedication LLC grew its position in shares of Gartner by 46.5% in the 3rd quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock worth $75,000 after buying an additional 47 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Gartner

In other news, SVP John J. Rinello sold 90 shares of the business’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 owns 3,259 shares in the company, valued at $1,728,932.09. The trade was a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James C. Smith sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $524.02, for a total value of $2,620,100.00. Following the completion of the transaction, the director now owns 509,457 shares of the company’s stock, valued at $266,965,657.14. This represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,690 shares of company stock worth $2,981,025. 3.60% of the stock is owned by insiders.

Gartner Stock Down 0.4 %

Shares of NYSE:IT opened at $515.34 on Friday. The stock has a fifty day simple moving average of $510.09 and a two-hundred day simple moving average of $508.32. The stock has a market capitalization of $39.75 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 3.50 and a beta of 1.34. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $584.01. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31.

Gartner (NYSE:IT) last announced its quarterly earnings data 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. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a return on equity of 136.32% and a net margin of 20.00%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.04 earnings per share. On average, research analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IT shares. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price objective on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Robert W. Baird lifted their price objective on Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Morgan Stanley cut their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Finally, Wells Fargo & Company dropped their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $552.63.

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.