Merit Financial Group LLC Invests $772,000 in Gartner, Inc. (NYSE:IT)

Merit Financial Group LLC bought a new position 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 bought 1,593 shares of the information technology services provider’s stock, valued at approximately $772,000.

Several other institutional investors have also recently added to or reduced their stakes in IT. Wedge Capital Management L L P NC boosted its stake in Gartner by 11.2% in the fourth quarter. Wedge Capital Management L L P NC now owns 132,107 shares of the information technology services provider’s stock valued at $64,002,000 after acquiring an additional 13,286 shares in the last quarter. Procyon Advisors LLC lifted its holdings in shares of Gartner by 1.5% in the 4th quarter. Procyon Advisors LLC now owns 2,641 shares of the information technology services provider’s stock valued at $1,279,000 after purchasing an additional 38 shares during the last quarter. Occidental Asset Management LLC boosted its position in shares of Gartner by 56.5% in the 4th quarter. Occidental Asset Management LLC now owns 690 shares of the information technology services provider’s stock valued at $334,000 after purchasing an additional 249 shares during the period. Gateway Investment Advisers LLC purchased a new position in Gartner during the 4th quarter worth approximately $450,000. Finally, Argent Capital Management LLC increased its position in Gartner by 9.8% during the fourth quarter. Argent Capital Management LLC now owns 10,785 shares of the information technology services provider’s stock worth $5,225,000 after buying an additional 964 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insiders Place Their Bets

In other news, Director James C. Smith sold 10,000 shares of Gartner stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $535.76, for a total transaction of $5,357,600.00. Following the completion of the sale, the director now directly owns 554,274 shares in the company, valued at approximately $296,957,838.24. This trade represents a 1.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Claire Herkes sold 411 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total value of $214,229.64. Following the completion of the sale, the executive vice president now owns 1,494 shares in the company, valued at approximately $778,732.56. This represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,583 shares of company stock worth $19,241,974. Corporate insiders own 3.60% of the company’s stock.

Gartner Price Performance

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Shares of NYSE:IT opened at $524.80 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. The company has a 50-day moving average price of $505.78 and a 200 day moving average price of $499.91. Gartner, Inc. has a 52 week low of $411.15 and a 52 week high of $559.00. The company has a market cap of $40.48 billion, a P/E ratio of 38.70, a PEG ratio of 2.87 and a beta of 1.33.

Gartner (NYSE:IT – Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the firm earned $2.56 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Research analysts predict that Gartner, Inc. will post 11.87 earnings per share for the current year.

Wall Street Analyst Weigh In

IT has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Robert W. Baird raised their price target on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley reduced their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $550.75.

View Our Latest Stock Analysis on Gartner

Gartner Company Profile

(Free Report)

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.