Everence Capital Management Inc. Buys New Stake in Gartner, Inc. (NYSE:IT)

Everence Capital Management Inc. bought a new stake in Gartner, Inc. (NYSE:IT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,010 shares of the information technology services provider’s stock, valued at approximately $907,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IT. OFI Invest Asset Management purchased a new position in Gartner in the third quarter valued at about $25,000. BKM Wealth Management LLC purchased a new position in Gartner in the fourth quarter valued at about $26,000. Cornerstone Planning Group LLC acquired a new stake in shares of Gartner during the second quarter valued at about $27,000. VisionPoint Advisory Group LLC grew its stake in shares of Gartner by 254.2% during the third quarter. VisionPoint Advisory Group LLC now owns 85 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 61 shares in the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new stake in shares of Gartner during the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IT. Morgan Stanley raised their target price on Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft initiated coverage on Gartner in a research note on Tuesday. They set a “hold” rating and a $507.00 target price for the company. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. BMO Capital Markets lifted their price target on Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a research note on Thursday, February 8th. Finally, UBS Group upgraded Gartner from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $484.00 to $550.00 in a research note on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Gartner currently has a consensus rating of “Hold” and a consensus price target of $477.60.

Insider Buying and Selling

In related news, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $453.00, for a total transaction of $308,946.00. Following the sale, the executive vice president now owns 12,269 shares of the company’s stock, valued at $5,557,857. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $453.00, for a total transaction of $308,946.00. Following the sale, the executive vice president now owns 12,269 shares of the company’s stock, valued at $5,557,857. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James C. Smith sold 5,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $455.00, for a total value of $2,275,000.00. Following the completion of the transaction, the director now directly owns 638,235 shares in the company, valued at approximately $290,396,925. 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 over the last quarter. Corporate insiders own 3.90% of the company’s stock.

Gartner Stock Performance

IT opened at $449.41 on Thursday. The business’s 50 day moving average is $465.66 and its 200-day moving average is $433.71. The stock has a market cap of $35.04 billion, a PE ratio of 40.63, a price-to-earnings-growth ratio of 4.18 and a beta of 1.29. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.60. Gartner, Inc. has a twelve month low of $292.60 and a twelve month high of $486.54.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.21. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.70 earnings per share. On average, analysts predict that Gartner, Inc. will post 11.36 earnings per share 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.