Resonant Capital Advisors LLC Reduces Position in Gartner, Inc. (NYSE:IT)

Resonant Capital Advisors LLC lessened its position in shares of Gartner, Inc. (NYSE:IT) by 6.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,044 shares of the information technology services provider’s stock after selling 137 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Gartner were worth $922,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC purchased a new position in Gartner during the 4th quarter worth approximately $26,000. AdvisorNet Financial Inc grew its stake in Gartner by 59.5% during the 4th quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock worth $30,000 after buying an additional 25 shares during the last quarter. Harbor Investment Advisory LLC grew its stake in Gartner by 7,500.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 76 shares of the information technology services provider’s stock worth $34,000 after buying an additional 75 shares during the last quarter. OFI Invest Asset Management purchased a new position in Gartner during the 3rd quarter worth approximately $25,000. Finally, Cornerstone Planning Group LLC acquired a new stake in Gartner during the 2nd quarter worth approximately $27,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Stock Down 2.1 %

IT opened at $440.38 on Friday. The company has a debt-to-equity ratio of 3.60, a current ratio of 0.91 and a quick ratio of 0.91. The business has a 50 day simple moving average of $465.07 and a 200-day simple moving average of $434.48. The stock has a market capitalization of $34.34 billion, a P/E ratio of 39.82, a P/E/G ratio of 4.11 and a beta of 1.29. Gartner, Inc. has a 12 month low of $292.60 and a 12 month high of $486.54.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 EPS for the quarter, beating the consensus estimate of $2.83 by $0.21. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm earned $3.70 EPS. On average, equities analysts anticipate that Gartner, Inc. will post 11.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IT. Deutsche Bank Aktiengesellschaft began coverage on Gartner in a research report on Tuesday. They set a “hold” rating and a $507.00 price objective for the company. UBS Group raised Gartner from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $484.00 to $550.00 in a research report on Thursday, April 11th. BMO Capital Markets increased their price objective on Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. Morgan Stanley increased their price objective on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Finally, StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $477.60.

Insider Activity

In related news, EVP Yvonne Genovese sold 560 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $457.37, for a total value of $256,127.20. Following the completion of the transaction, the executive vice president now directly owns 2,398 shares of the company’s stock, valued at approximately $1,096,773.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Valentin Sribar sold 682 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the transaction, the executive vice president now directly owns 12,269 shares of the company’s stock, valued at approximately $5,557,857. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Yvonne Genovese sold 560 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $457.37, for a total value of $256,127.20. Following the completion of the transaction, the executive vice president now directly owns 2,398 shares of the company’s stock, valued at $1,096,773.26. The disclosure for this sale can be found here. Insiders sold 22,952 shares of company stock valued at $10,598,070 in the last three months. 3.90% of the stock is currently owned by company insiders.

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.