NBC Securities Inc. Acquires 3,341 Shares of Gartner, Inc. (NYSE:IT)

NBC Securities Inc. increased its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 111,366.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,344 shares of the information technology services provider's stock after purchasing an additional 3,341 shares during the period. NBC Securities Inc.'s holdings in Gartner were worth $1,403,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in IT. Cary Street Partners Financial LLC bought a new position in Gartner in the 4th quarter worth approximately $27,000. Kestra Investment Management LLC acquired a new stake in shares of Gartner in the fourth quarter worth $29,000. Itau Unibanco Holding S.A. increased its position in Gartner by 453.3% during the fourth quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock worth $40,000 after acquiring an additional 68 shares during the period. SBI Securities Co. Ltd. acquired a new position in Gartner during the 4th quarter valued at $49,000. Finally, Promus Capital LLC acquired a new position in Gartner during the 4th quarter valued at $57,000. Institutional investors own 91.51% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on IT shares. Robert W. Baird decreased 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. Wells Fargo & Company reduced their target price on shares of Gartner from $401.00 to $400.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Barclays lowered their price target on Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. The Goldman Sachs Group cut their price target on Gartner from $622.00 to $535.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, Wall Street Zen lowered Gartner from a "buy" rating to a "hold" rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $518.67.

Insider Activity

In related news, SVP John J. Rinello sold 109 shares of Gartner stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total transaction of $47,562.15. Following the completion of the transaction, the senior vice president now directly owns 3,280 shares of the company's stock, valued at $1,431,228. This trade represents a 3.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robin B. Kranich sold 739 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $436.50, for a total transaction of $322,573.50. Following the completion of the transaction, the executive vice president now owns 20,464 shares in the company, valued at approximately $8,932,536. This trade represents a 3.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,426 shares of company stock worth $2,430,327. Corporate insiders own 2.30% of the company's stock.

Gartner Price Performance

NYSE IT traded down $6.73 during trading on Wednesday, reaching $425.50. 756,128 shares of the company traded hands, compared to its average volume of 466,571. Gartner, Inc. has a 1-year low of $366.05 and a 1-year high of $584.01. The company has a market cap of $32.75 billion, a price-to-earnings ratio of 26.54, a P/E/G ratio of 3.30 and a beta of 1.24. The stock's 50 day moving average price is $420.82 and its two-hundred day moving average price is $472.19. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.72 by $0.26. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. During the same period in the prior year, the business posted $2.93 earnings per share. The business's revenue was up 4.2% compared to the same quarter last year. As a group, analysts anticipate that Gartner, Inc. will post 12.5 EPS 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.