Platform Technology Partners Takes $210,000 Position in Gartner, Inc. (NYSE:IT)

Platform Technology Partners acquired a new position in shares of Gartner, Inc. (NYSE:IT) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 414 shares of the information technology services provider’s stock, valued at approximately $210,000.

Several other institutional investors have also recently modified their holdings of the stock. Empowered Funds LLC lifted its holdings in Gartner by 12.1% in the 1st quarter. Empowered Funds LLC now owns 3,549 shares of the information technology services provider’s stock valued at $1,692,000 after purchasing an additional 382 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Gartner in the 1st quarter valued at $715,000. Headlands Technologies LLC purchased a new position in shares of Gartner during the 1st quarter worth $147,000. QRG Capital Management Inc. boosted its holdings in shares of Gartner by 8.0% during the first quarter. QRG Capital Management Inc. now owns 2,361 shares of the information technology services provider’s stock worth $1,125,000 after purchasing an additional 175 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Gartner by 11.4% in the first quarter. Russell Investments Group Ltd. now owns 25,063 shares of the information technology services provider’s stock valued at $11,987,000 after purchasing an additional 2,560 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IT has been the topic of several recent analyst reports. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. BMO Capital Markets raised their target price on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Barclays lifted their price target on shares of Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Robert W. Baird increased their target price on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, UBS Group boosted their price target on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Gartner has a consensus rating of “Hold” and a consensus price target of $539.25.

Gartner Price Performance

Shares of NYSE IT opened at $550.66 on Wednesday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. Gartner, Inc. has a 1-year low of $410.58 and a 1-year high of $559.00. The company has a market capitalization of $42.43 billion, a price-to-earnings ratio of 40.61, a PEG ratio of 3.43 and a beta of 1.32. The business has a 50-day moving average of $515.17 and a 200-day moving average of $476.03.

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

Insider Activity

In related news, CFO Craig Safian sold 6,310 shares of Gartner stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $483.57, for a total transaction of $3,051,326.70. Following the sale, the chief financial officer now owns 71,544 shares of the company’s stock, valued at $34,596,532.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Gartner news, CFO Craig Safian sold 6,310 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $483.57, for a total transaction of $3,051,326.70. Following the completion of the sale, the chief financial officer now owns 71,544 shares in the company, valued at $34,596,532.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Akhil Jain sold 400 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $485.00, for a total value of $194,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,839 shares in the company, valued at approximately $2,346,915. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,899 shares of company stock worth $30,317,486. 3.60% of the stock is currently owned by company insiders.

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.