Everence Capital Management Inc. Makes New $907,000 Investment in Gartner, Inc. (NYSE:IT)

Everence Capital Management Inc. bought a new position in Gartner, Inc. (NYSE:IT) during the 4th quarter, HoldingsChannel reports. The firm bought 2,010 shares of the information technology services provider’s stock, valued at approximately $907,000.

Several other hedge funds also recently bought and sold shares of the company. SVB Wealth LLC raised its holdings in Gartner by 1.5% in the fourth quarter. SVB Wealth LLC now owns 7,431 shares of the information technology services provider’s stock worth $3,352,000 after purchasing an additional 108 shares during the period. Mackenzie Financial Corp increased its position in shares of Gartner by 26.3% during the fourth quarter. Mackenzie Financial Corp now owns 629,969 shares of the information technology services provider’s stock worth $284,185,000 after acquiring an additional 131,222 shares in the last quarter. Dakota Wealth Management increased its position in shares of Gartner by 18.9% during the fourth quarter. Dakota Wealth Management now owns 6,346 shares of the information technology services provider’s stock worth $2,863,000 after acquiring an additional 1,009 shares in the last quarter. Waldron Private Wealth LLC bought a new stake in shares of Gartner during the fourth quarter worth $209,000. Finally, Strs Ohio bought a new stake in shares of Gartner during the fourth quarter worth $1,306,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director James C. Smith sold 5,000 shares of Gartner stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $455.00, for a total value of $2,275,000.00. Following the completion of the transaction, the director now owns 638,235 shares of the company’s stock, valued at approximately $290,396,925. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director James C. Smith sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $455.00, for a total transaction of $2,275,000.00. Following the completion of the sale, the director now owns 638,235 shares in the company, valued at approximately $290,396,925. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Claire Herkes sold 1,460 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $475.76, for a total transaction of $694,609.60. Following the sale, the executive vice president now owns 2,842 shares of the company’s stock, valued at approximately $1,352,109.92. The disclosure for this sale can be found here. Insiders sold a total of 22,952 shares of company stock valued at $10,598,070 in the last quarter. Company insiders own 3.90% of the company’s stock.

Gartner Stock Down 1.9 %

Gartner stock opened at $449.41 on Thursday. The company has a fifty day simple moving average of $465.66 and a 200 day simple moving average of $433.71. Gartner, Inc. has a 1-year low of $292.60 and a 1-year high of $486.54. The company has a market cap of $35.04 billion, a P/E ratio of 40.63, a price-to-earnings-growth ratio of 4.18 and a beta of 1.29. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.60.

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

Wall Street Analysts Forecast Growth

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

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.