Hohimer Wealth Management LLC Invests $1.84 Million in Gartner, Inc. (NYSE:IT)

Hohimer Wealth Management LLC purchased a new stake in Gartner, Inc. (NYSE:IT - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,394 shares of the information technology services provider's stock, valued at approximately $1,844,000.

Several other large investors also recently made changes to their positions in the business. Edgestream Partners L.P. boosted its stake in shares of Gartner by 184.0% during the 1st quarter. Edgestream Partners L.P. now owns 2,525 shares of the information technology services provider's stock worth $1,060,000 after acquiring an additional 1,636 shares in the last quarter. MQS Management LLC bought a new stake in Gartner during the first quarter valued at about $594,000. Isthmus Partners LLC increased its position in Gartner by 0.4% in the 1st quarter. Isthmus Partners LLC now owns 31,220 shares of the information technology services provider's stock worth $13,104,000 after buying an additional 118 shares during the period. Marks Group Wealth Management Inc lifted its stake in shares of Gartner by 2.8% in the first quarter. Marks Group Wealth Management Inc now owns 6,667 shares of the information technology services provider's stock valued at $2,798,000 after buying an additional 181 shares during the period. Finally, New York State Common Retirement Fund raised its stake in shares of Gartner by 1.2% in the first quarter. New York State Common Retirement Fund now owns 43,236 shares of the information technology services provider's stock valued at $18,148,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 91.51% of the company's stock.

Insider Transactions at Gartner

In related news, EVP Robin B. Kranich sold 739 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $436.50, for a total value of $322,573.50. Following the completion of the sale, the executive vice president directly owned 20,464 shares in the company, valued at $8,932,536. This represents a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Craig Safian sold 3,415 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $450.17, for a total value of $1,537,330.55. Following the completion of the sale, the chief financial officer owned 77,890 shares in the company, valued at $35,063,741.30. The trade was a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,426 shares of company stock worth $2,430,327. 2.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on IT shares. Wall Street Zen downgraded shares of Gartner from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. UBS Group reduced their price target on Gartner from $525.00 to $500.00 and set a "buy" rating for the company in a research report on Wednesday, June 18th. Wells Fargo & Company decreased their price target on Gartner from $401.00 to $400.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Robert W. Baird cut their target price on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Finally, Barclays decreased their price objective on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $515.89.

Gartner Price Performance

Shares of IT traded down $1.13 during trading hours on Monday, reaching $373.27. The stock had a trading volume of 1,094,938 shares, compared to its average volume of 671,941. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.09 and a current ratio of 1.09. 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 $28.73 billion, a PE ratio of 23.23, a PEG ratio of 2.43 and a beta of 1.19. The company's 50-day moving average is $419.94 and its two-hundred day moving average is $451.40.

Gartner (NYSE:IT - Get Free Report) last posted its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, beating the consensus estimate of $2.72 by $0.26. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Gartner had a return on equity of 96.70% and a net margin of 19.82%. The business's quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the company earned $2.93 earnings per share. Research analysts expect 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.