Paradiem LLC Has $4.78 Million Position in Gartner, Inc. (NYSE:IT)

Paradiem LLC cut its holdings in Gartner, Inc. (NYSE:IT) by 17.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,592 shares of the information technology services provider’s stock after selling 2,267 shares during the quarter. Paradiem LLC’s holdings in Gartner were worth $4,778,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BSW Wealth Partners boosted its holdings in Gartner by 3.7% in the fourth quarter. BSW Wealth Partners now owns 617 shares of the information technology services provider’s stock valued at $278,000 after acquiring an additional 22 shares during the last quarter. Allworth Financial LP raised its stake in Gartner by 2.8% during the 4th quarter. Allworth Financial LP now owns 807 shares of the information technology services provider’s stock worth $364,000 after buying an additional 22 shares during the period. AdvisorNet Financial Inc lifted its holdings in Gartner by 59.5% during the fourth quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 25 shares in the last quarter. Kolinsky Wealth Management LLC grew its position in shares of Gartner by 3.9% in the 3rd quarter. Kolinsky Wealth Management LLC now owns 720 shares of the information technology services provider’s stock valued at $247,000 after purchasing an additional 27 shares during the period. Finally, HB Wealth Management LLC boosted its holdings in shares of Gartner by 2.6% in the fourth quarter. HB Wealth Management LLC now owns 1,073 shares of the information technology services provider’s stock valued at $484,000 after buying an additional 27 shares during the period. Institutional investors own 91.51% of the company’s stock.

Gartner Stock Performance

Shares of NYSE IT traded up $2.47 during midday trading on Friday, hitting $448.78. The company’s stock had a trading volume of 292,240 shares, compared to its average volume of 324,262. The firm has a market capitalization of $34.99 billion, a price-to-earnings ratio of 40.58, a P/E/G ratio of 4.12 and a beta of 1.29. Gartner, Inc. has a one year low of $293.73 and a one year high of $486.54. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.60. The stock has a fifty day moving average price of $464.87 and a 200 day moving average price of $438.46.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.21. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the company posted $3.70 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. On average, research analysts forecast that Gartner, Inc. will post 11.29 EPS for the current fiscal year.

Insider Activity

In other Gartner news, EVP Akhil Jain sold 250 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $464.55, for a total value of $116,137.50. Following the completion of the sale, the executive vice president now owns 5,239 shares in the company, valued at approximately $2,433,777.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Akhil Jain sold 250 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $464.55, for a total transaction of $116,137.50. Following the transaction, the executive vice president now directly owns 5,239 shares of the company’s stock, valued at $2,433,777.45. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Yvonne Genovese sold 560 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $457.37, for a total value of $256,127.20. Following the transaction, the executive vice president now directly owns 2,398 shares in the company, valued at approximately $1,096,773.26. The disclosure for this sale can be found here. Insiders have sold a total of 22,952 shares of company stock valued at $10,598,070 in the last 90 days. 3.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IT. Deutsche Bank Aktiengesellschaft began coverage on shares of Gartner in a research report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price objective on the stock. Morgan Stanley raised their price objective on Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. UBS Group upgraded Gartner from a “neutral” rating to a “buy” rating and upped their target price for the stock from $484.00 to $550.00 in a report on Thursday, April 11th. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Finally, BMO Capital Markets upped their price target on shares of Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $477.60.

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.