Monte Financial Group LLC Makes New $778,000 Investment in Gartner, Inc. (NYSE:IT)

Monte Financial Group LLC purchased a new position in Gartner, Inc. (NYSE:IT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,937 shares of the information technology services provider's stock, valued at approximately $778,000.

Several other institutional investors have also modified their holdings of the business. Brighton Jones LLC acquired a new position in shares of Gartner during the fourth quarter worth about $309,000. D.A. Davidson & CO. lifted its stake in Gartner by 2.6% in the fourth quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider's stock worth $551,000 after acquiring an additional 29 shares during the last quarter. Kestra Investment Management LLC acquired a new position in Gartner during the 4th quarter worth approximately $29,000. Global Retirement Partners LLC grew its holdings in Gartner by 14.0% during the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider's stock worth $134,000 after acquiring an additional 34 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of Gartner by 16.7% in the 4th quarter. Handelsbanken Fonder AB now owns 20,652 shares of the information technology services provider's stock valued at $10,005,000 after purchasing an additional 2,960 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Buying and Selling at Gartner

In related news, CFO Craig Safian sold 3,415 shares of Gartner stock in a transaction 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 transaction, the chief financial officer now directly owns 77,890 shares in the company, valued at $35,063,741.30. This trade represents a 4.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP John J. Rinello sold 109 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $436.35, for a total transaction of $47,562.15. Following the completion of the sale, the senior vice president now 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 disclosure for this sale can be found here. Insiders sold a total of 5,426 shares of company stock valued at $2,430,327 in the last ninety days. Insiders own 2.30% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IT. The Goldman Sachs Group reduced their price objective on shares of Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Robert W. Baird cut their price target on Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Wells Fargo & Company lowered their price objective on Gartner from $401.00 to $400.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. Wall Street Zen lowered shares of Gartner from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. Finally, Barclays cut 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $515.89.

Gartner Stock Down 1.6%

IT stock opened at $392.91 on Friday. The company has a market cap of $30.24 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 2.59 and a beta of 1.23. The company has a fifty day moving average price of $423.77 and a 200 day moving average price of $462.87. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.09 and a quick ratio of 1.09. Gartner, Inc. has a 12 month low of $366.05 and a 12 month high of $584.01.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.26. Gartner had a net margin of 19.82% and a return on equity of 96.70%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the firm posted $2.93 EPS. Gartner's revenue for the quarter was up 4.2% on a year-over-year basis. Sell-side analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Gartner Profile

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.

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