Waverly Advisors LLC Invests $348,000 in Gartner, Inc. (NYSE:IT)

Waverly Advisors LLC acquired a new stake in shares of Gartner, Inc. (NYSE:IT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 718 shares of the information technology services provider's stock, valued at approximately $348,000.

Several other hedge funds also recently modified their holdings of IT. Norges Bank acquired a new stake in shares of Gartner during the fourth quarter valued at about $460,541,000. Madison Investment Advisors LLC bought a new position in Gartner in the 4th quarter valued at approximately $244,799,000. Raymond James Financial Inc. acquired a new stake in Gartner during the 4th quarter worth approximately $165,476,000. BNP Paribas Financial Markets boosted its position in Gartner by 184.6% during 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 buying an additional 253,288 shares during the period. Finally, FMR LLC grew its holdings in Gartner by 8.6% during 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 acquiring an additional 223,087 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on IT shares. 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 report on Thursday, May 1st. Wall Street Zen lowered Gartner from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. UBS Group upped their price target on Gartner from $500.00 to $525.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Robert W. Baird lowered their price objective on Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Finally, The Goldman Sachs Group cut their price objective on Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Gartner presently has an average rating of "Hold" and a consensus target price of $518.67.

Insider Activity

In other news, CFO Craig Safian sold 3,415 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $450.17, for a total transaction of $1,537,330.55. Following the completion of the sale, the chief financial officer now owns 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP John J. Rinello sold 109 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $436.35, for a total value of $47,562.15. Following the completion of the transaction, the senior vice president now owns 3,280 shares in the company, valued at approximately $1,431,228. This represents a 3.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,426 shares of company stock worth $2,430,327. Company insiders own 2.30% of the company's stock.

Gartner Trading Down 2.1%

Shares of Gartner stock traded down $9.52 on Wednesday, hitting $435.34. 468,811 shares of the company's stock traded hands, compared to its average volume of 457,744. The company has a market capitalization of $33.51 billion, a price-to-earnings ratio of 27.16, a price-to-earnings-growth ratio of 3.30 and a beta of 1.24. Gartner, Inc. has a one year low of $366.05 and a one year high of $584.01. The company has a fifty day moving average of $420.08 and a two-hundred day moving average of $475.95. 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 (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 (EPS) for the quarter, beating analysts' consensus estimates of $2.72 by $0.26. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. Gartner's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.93 EPS. As a group, sell-side analysts expect that Gartner, Inc. will post 12.5 earnings per share 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.