Square Wave Partners L.P. Takes $12.73 Million Position in Gartner, Inc. (NYSE:IT)

Square Wave Partners L.P. acquired a new position in shares of Gartner, Inc. (NYSE:IT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 26,280 shares of the information technology services provider's stock, valued at approximately $12,732,000. Gartner comprises 12.3% of Square Wave Partners L.P.'s investment portfolio, making the stock its 5th largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Howard Capital Management Inc. raised its holdings in Gartner by 4.4% in the 4th quarter. Howard Capital Management Inc. now owns 452 shares of the information technology services provider's stock valued at $219,000 after buying an additional 19 shares during the period. Gilbert & Cook Inc. raised its holdings in Gartner by 1.5% in the 4th quarter. Gilbert & Cook Inc. now owns 1,364 shares of the information technology services provider's stock valued at $661,000 after buying an additional 20 shares during the period. Dorsey & Whitney Trust CO LLC raised its holdings in Gartner by 2.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 826 shares of the information technology services provider's stock valued at $400,000 after buying an additional 20 shares during the period. Sompo Asset Management Co. Ltd. raised its holdings in Gartner by 1.7% in the 4th quarter. Sompo Asset Management Co. Ltd. now owns 1,210 shares of the information technology services provider's stock valued at $586,000 after buying an additional 20 shares during the period. Finally, Parallel Advisors LLC raised its holdings in Gartner by 2.9% in the 4th quarter. Parallel Advisors LLC now owns 737 shares of the information technology services provider's stock valued at $357,000 after buying an additional 21 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports 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. UBS Group boosted their price target on shares of Gartner from $500.00 to $525.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Barclays cut their price target on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Wells Fargo & Company cut their price target on shares of Gartner from $401.00 to $400.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Finally, Robert W. Baird cut their price target on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. One 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 data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $518.67.

Insider Buying and Selling

In other Gartner news, EVP Akhil Jain sold 625 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $450.00, for a total value of $281,250.00. Following the transaction, the executive vice president now directly owns 6,548 shares in the company, valued at $2,946,600. This represents a 8.71% decrease in their ownership of the stock. The sale 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 stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $450.17, for a total transaction of $1,537,330.55. Following the completion of the transaction, the chief financial officer now owns 77,890 shares in the company, valued at $35,063,741.30. This represents a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,626 shares of company stock worth $3,018,051. Company insiders own 2.30% of the company's stock.

Gartner Stock Down 1.0%

Shares of IT stock traded down $4.57 during trading hours on Friday, reaching $439.09. 440,448 shares of the stock were exchanged, compared to its average volume of 457,441. The business's fifty day moving average is $419.74 and its two-hundred day moving average is $477.78. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. Gartner, Inc. has a 12-month low of $366.05 and a 12-month high of $584.01. The firm has a market capitalization of $33.80 billion, a P/E ratio of 27.39, a P/E/G ratio of 3.30 and a beta of 1.24.

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