60,000 Shares in Gartner, Inc. $IT Bought by Hiddenite Capital Partners LP

Hiddenite Capital Partners LP acquired a new stake in shares of Gartner, Inc. (NYSE:IT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 60,000 shares of the information technology services provider’s stock, valued at approximately $11,192,000. Gartner comprises 2.0% of Hiddenite Capital Partners LP’s holdings, making the stock its 17th biggest holding.

Several other hedge funds have also added to or reduced their stakes in the stock. Elevation Wealth Partners LLC purchased a new stake in shares of Gartner in the third quarter worth $30,000. Financial Management Professionals Inc. bought a new position in shares of Gartner during the third quarter valued at $30,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Gartner during the first quarter valued at $34,000. Basecamp Wealth Advisors LLC raised its position in shares of Gartner by 107.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 236 shares of the information technology services provider’s stock worth $37,000 after purchasing an additional 122 shares during the last quarter. Finally, CX Institutional raised its position in shares of Gartner by 109.2% in the 3rd quarter. CX Institutional now owns 274 shares of the information technology services provider’s stock worth $51,000 after purchasing an additional 143 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Yvonne Genovese sold 1,205 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $190.06, for a total transaction of $229,022.30. Following the sale, the executive vice president owned 6,208 shares of the company’s stock, valued at $1,179,892.48. This trade represents a 16.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Robin B. Kranich sold 3,278 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $196.50, for a total transaction of $644,127.00. Following the sale, the executive vice president directly owned 20,358 shares in the company, valued at approximately $4,000,347. The trade was a 13.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,043 shares of company stock valued at $1,172,858 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

Gartner Stock Up 2.8%

Gartner stock opened at $235.18 on Tuesday. Gartner, Inc. has a 12 month low of $124.25 and a 12 month high of $256.89. The stock has a fifty day simple moving average of $197.04 and a two-hundred day simple moving average of $170.19. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 46.98. The firm has a market cap of $14.85 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 0.82 and a beta of 0.98.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, August 4th. The information technology services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $3.76 by $0.61. Gartner had a return on equity of 525.46% and a net margin of 11.99%. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the firm posted $3.53 earnings per share. Gartner’s revenue was down .6% compared to the same quarter last year. Equities analysts predict that Gartner, Inc. will post 14.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IT has been the topic of a number of analyst reports. Wells Fargo & Company upped their price target on shares of Gartner from $150.00 to $175.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 20th. Weiss Ratings downgraded shares of Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, October 26th. BMO Capital Markets raised their price objective on shares of Gartner from $206.00 to $212.00 and gave the company a “market perform” rating in a research note on Tuesday, October 13th. UBS Group lifted their target price on shares of Gartner from $196.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, October 5th. Finally, Truist Financial lifted their target price on shares of Gartner from $205.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, October 20th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $198.50.

About Gartner

Gartner, Inc is a global research and advisory company that provides information, analysis and guidance to business leaders, technology professionals and public-sector organizations. Its work focuses on helping clients evaluate technology markets, develop business strategies, manage risk and make decisions about digital transformation and other organizational priorities.

The company delivers its services through research and advisory programs, consulting engagements, executive guidance and conferences.