Sone Capital Management LLC Invests $4.52 Million in Gartner, Inc. (NYSE:IT)

Sone Capital Management LLC acquired a new position in Gartner, Inc. (NYSE:IT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,330 shares of the information technology services provider's stock, valued at approximately $4,520,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cary Street Partners Financial LLC purchased a new stake in Gartner during the 4th quarter valued at $27,000. Kestra Investment Management LLC purchased a new stake in Gartner during the 4th quarter valued at $29,000. Itau Unibanco Holding S.A. raised its holdings in Gartner by 453.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock valued at $40,000 after buying an additional 68 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Gartner during the 4th quarter valued at $49,000. Finally, Promus Capital LLC purchased a new stake in Gartner during the 4th quarter valued at $57,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Trading Down 1.0%

IT stock traded down $4.57 during trading on Friday, hitting $439.09. The company had a trading volume of 440,448 shares, compared to its average volume of 457,441. The firm has a market capitalization of $33.80 billion, a P/E ratio of 27.39, a PEG ratio of 3.30 and a beta of 1.24. Gartner, Inc. has a 52-week low of $366.05 and a 52-week high of $584.01. The company has a 50 day simple moving average of $419.74 and a 200-day simple moving average of $477.78. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IT. UBS Group increased their price target on Gartner from $500.00 to $525.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Wall Street Zen lowered Gartner from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Robert W. Baird dropped their target price on Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Wells Fargo & Company dropped their target price on Gartner from $401.00 to $400.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. Finally, Barclays dropped their target price on Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Gartner has an average rating of "Hold" and an average target price of $518.67.

Insider Transactions at Gartner

In other Gartner news, EVP Akhil Jain sold 625 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $450.00, for a total transaction of $281,250.00. Following the transaction, the executive vice president now owns 6,548 shares of the company's stock, valued at approximately $2,946,600. This trade represents a 8.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP William James Wartinbee III sold 538 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $449.09, for a total transaction of $241,610.42. Following the transaction, the executive vice president now directly owns 7,965 shares in the company, valued at $3,577,001.85. This trade represents a 6.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,626 shares of company stock valued at $3,018,051. 2.30% of the stock is currently owned by corporate insiders.

Gartner Company 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.