Avestar Capital LLC Raises Holdings in Gartner, Inc. (NYSE:IT)

Avestar Capital LLC increased its position in Gartner, Inc. (NYSE:IT) by 12.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 811 shares of the information technology services provider’s stock after buying an additional 89 shares during the period. Avestar Capital LLC’s holdings in Gartner were worth $411,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in Gartner during the third quarter valued at $186,000. D.A. Davidson & CO. boosted its holdings in shares of Gartner by 4.2% in the 3rd quarter. D.A. Davidson & CO. now owns 1,108 shares of the information technology services provider’s stock worth $561,000 after purchasing an additional 45 shares during the period. Brown Brothers Harriman & Co. boosted its holdings in shares of Gartner by 43.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 722 shares of the information technology services provider’s stock worth $366,000 after purchasing an additional 217 shares during the period. Harvest Fund Management Co. Ltd raised its holdings in Gartner by 94.0% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 644 shares of the information technology services provider’s stock valued at $326,000 after buying an additional 312 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Gartner in the third quarter worth $651,000. 91.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IT. Morgan Stanley raised their target price on shares of Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Robert W. Baird upped their price target on shares of Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, BMO Capital Markets upped their price objective on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $539.25.

Insider Activity

In other Gartner news, CEO Eugene A. Hall sold 34,060 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total value of $17,213,924.00. Following the sale, the chief executive officer now directly owns 1,143,401 shares of the company’s stock, valued at approximately $577,874,865.40. This represents a 2.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Claire Herkes sold 478 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $506.01, for a total value of $241,872.78. Following the completion of the transaction, the executive vice president now directly owns 1,905 shares of the company’s stock, valued at approximately $963,949.05. This trade represents a 20.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,149 shares of company stock valued at $37,694,911 over the last ninety days. 3.60% of the stock is currently owned by insiders.

Gartner Trading Down 0.7 %

Shares of NYSE:IT opened at $519.23 on Thursday. The business’s 50-day moving average is $520.55 and its 200 day moving average is $482.61. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $559.00. The firm has a market capitalization of $40.05 billion, a P/E ratio of 38.29, a P/E/G ratio of 3.24 and a beta of 1.32.

Gartner (NYSE:IT) last released its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the business earned $2.56 EPS. Gartner’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, research analysts predict that Gartner, Inc. will post 11.89 earnings per share for the current fiscal 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.