Twinbeech Capital LP Purchases Shares of 89,307 Gartner, Inc. (NYSE:IT)

Twinbeech Capital LP bought a new position in Gartner, Inc. (NYSE:IT - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 89,307 shares of the information technology services provider's stock, valued at approximately $43,267,000. Twinbeech Capital LP owned 0.12% of Gartner at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Gartner during the fourth quarter valued at $460,541,000. Madison Investment Advisors LLC bought a new position in Gartner in the 4th quarter worth about $244,799,000. Raymond James Financial Inc. bought a new position in Gartner in the 4th quarter worth about $165,476,000. BNP Paribas Financial Markets boosted its stake in Gartner by 184.6% in the 4th quarter. BNP Paribas Financial Markets now owns 390,472 shares of the information technology services provider's stock worth $189,172,000 after purchasing an additional 253,288 shares in the last quarter. Finally, FMR LLC boosted its stake in Gartner by 8.6% in the 4th quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider's stock worth $1,367,233,000 after purchasing an additional 223,087 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Stock Performance

Shares of IT traded up $0.42 during trading hours on Thursday, hitting $443.33. The stock had a trading volume of 461,989 shares, compared to its average volume of 457,028. 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 $34.12 billion, a PE ratio of 27.66, a PEG ratio of 3.30 and a beta of 1.24. The stock has a fifty day moving average price of $420.25 and a 200 day moving average price of $478.72.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings data 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 return on equity of 116.56% and a net margin of 20.00%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the company posted $2.93 earnings per share. Gartner's revenue was up 4.2% compared to the same quarter last year. Analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Buying and Selling

In related news, EVP William James Wartinbee III sold 538 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $449.09, for a total value of $241,610.42. Following the transaction, the executive vice president now owns 7,965 shares of the company's stock, valued at approximately $3,577,001.85. This trade represents a 6.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP John J. Rinello sold 109 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 3,280 shares in the company, valued at approximately $1,431,228. The trade was a 3.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,626 shares of company stock valued at $3,018,051. 2.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on IT shares. The Goldman Sachs Group reduced their price objective on shares of Gartner from $622.00 to $535.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Barclays reduced their price objective on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Robert W. Baird reduced their target price on Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Wells Fargo & Company dropped their price objective on Gartner from $401.00 to $400.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Finally, UBS Group lifted their price objective on Gartner from $500.00 to $525.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $518.67.

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.