Cleararc Capital Inc. Buys New Stake in Gartner Inc (NYSE:IT)

Cleararc Capital Inc. acquired a new position in shares of Gartner Inc (NYSE:IT) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,493 shares of the information technology services provider’s stock, valued at approximately $226,000.

Several other institutional investors also recently bought and sold shares of the company. Avestar Capital LLC grew its holdings in shares of Gartner by 1,036.8% during the first quarter. Avestar Capital LLC now owns 216 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 197 shares during the last quarter. Sontag Advisory LLC acquired a new stake in shares of Gartner during the fourth quarter worth about $47,000. Claybrook Capital LLC acquired a new stake in shares of Gartner during the fourth quarter worth about $51,000. Smithfield Trust Co. boosted its stake in shares of Gartner by 80.9% during the first quarter. Smithfield Trust Co. now owns 425 shares of the information technology services provider’s stock worth $64,000 after buying an additional 190 shares during the period. Finally, Whittier Trust Co. boosted its stake in shares of Gartner by 142.3% during the fourth quarter. Whittier Trust Co. now owns 1,049 shares of the information technology services provider’s stock worth $134,000 after buying an additional 616 shares during the period. 99.02% of the stock is currently owned by institutional investors and hedge funds.

In other Gartner news, EVP Joseph P. Beck sold 4,032 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $157.29, for a total value of $634,193.28. Following the completion of the transaction, the executive vice president now directly owns 8,364 shares of the company’s stock, valued at $1,315,573.56. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Karen E. Dykstra sold 1,812 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $150.22, for a total transaction of $272,198.64. Following the completion of the transaction, the director now directly owns 20,698 shares of the company’s stock, valued at $3,109,253.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,610 shares of company stock valued at $2,103,725. 4.00% of the stock is currently owned by corporate insiders.

NYSE:IT traded up $0.74 during mid-day trading on Friday, reaching $170.24. The stock had a trading volume of 167,062 shares, compared to its average volume of 316,566. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 3.34. The stock has a market cap of $15.27 billion, a price-to-earnings ratio of 44.92, a price-to-earnings-growth ratio of 3.02 and a beta of 1.26. Gartner Inc has a twelve month low of $120.89 and a twelve month high of $170.50. The firm’s 50 day moving average price is $159.48.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, May 7th. The information technology services provider reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.05. Gartner had a net margin of 4.09% and a return on equity of 37.59%. The firm had revenue of $970.00 million during the quarter, compared to the consensus estimate of $960.72 million. During the same quarter last year, the firm earned $0.72 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. On average, equities research analysts forecast that Gartner Inc will post 3.96 earnings per share for the current year.

IT has been the subject of several recent research reports. Morgan Stanley reiterated an “overweight” rating and set a GBX 2,280 ($29.79) target price on shares of Anglo American in a research note on Wednesday, May 8th. Zacks Investment Research downgraded shares of Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 9th. Cantor Fitzgerald reiterated a “buy” rating and set a $107.00 target price on shares of Perrigo in a research note on Wednesday, May 8th. Finally, BMO Capital Markets downgraded shares of Capital Power from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $148.38.

Gartner Profile

Gartner, Inc operates as a research and advisory company. It operates through three segments: Research, Conferences, and Consulting. The Research segment offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through research and other reports, briefings, proprietary tools, access to analysts, peer networking services, and membership programs that enable clients to make better decisions; and practice and talent management research insights in various business functions, such as human resources, sales, legal, and finance.

Read More: Price to Earnings Ratio (PE) Basics

Institutional Ownership by Quarter for Gartner (NYSE:IT)

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