Rossby Financial LCC Invests $479,000 in Gartner, Inc. (NYSE:IT)

Rossby Financial LCC acquired a new stake in Gartner, Inc. (NYSE:IT) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 989 shares of the information technology services provider’s stock, valued at approximately $479,000.

A number of other large investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Gartner during the fourth quarter worth about $460,541,000. Madison Investment Advisors LLC bought a new position in Gartner during the 4th quarter worth approximately $244,799,000. Raymond James Financial Inc. acquired a new position in shares of Gartner in the 4th quarter worth approximately $165,476,000. FMR LLC lifted its holdings in Gartner by 8.6% in the fourth 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 during the period. Finally, Fisher Funds Management LTD bought a new stake in shares of Gartner during the 4th quarter valued at about $97,518,000. Institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

IT opened at $408.39 on Tuesday. Gartner, Inc. has a 12-month low of $366.05 and a 12-month high of $584.01. The stock has a market capitalization of $31.37 billion, a P/E ratio of 25.48, a PEG ratio of 3.30 and a beta of 1.26. The stock has a 50-day moving average price of $458.72 and a 200-day moving average price of $495.50. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81.

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

Analysts Set New Price Targets

A number of research firms have commented on IT. The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. Wells Fargo & Company lowered their target price on shares of Gartner from $488.00 to $401.00 and set an “underweight” rating for the company in a report on Wednesday, April 9th. Morgan Stanley reduced their price objective 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. Barclays decreased their price target on shares of Gartner from $600.00 to $510.00 and set an “overweight” rating for the company in a research note on Friday, April 4th. Finally, Robert W. Baird lowered their price target on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Gartner has an average rating of “Hold” and a consensus price target of $518.00.

Insider Activity

In other news, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction that occurred 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. This trade represents a 2.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction that occurred on 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 owns 1,627 shares in the company, valued at $796,855.79. This represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

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.