Gartner, Inc. (NYSE:IT) Shares Purchased by Gardner Lewis Asset Management L P

Gardner Lewis Asset Management L P boosted its stake in shares of Gartner, Inc. (NYSE:IT) by 5.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,660 shares of the information technology services provider’s stock after acquiring an additional 517 shares during the quarter. Gardner Lewis Asset Management L P’s holdings in Gartner were worth $4,338,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of IT. Norges Bank purchased a new position in Gartner during the fourth quarter worth about $388,781,000. Sustainable Growth Advisers LP purchased a new position in shares of Gartner during the 2nd quarter worth approximately $266,541,000. First Trust Advisors LP boosted its stake in shares of Gartner by 830.4% in the fourth quarter. First Trust Advisors LP now owns 514,230 shares of the information technology services provider’s stock valued at $231,974,000 after buying an additional 458,963 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Gartner by 22.0% during the second quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock worth $852,014,000 after acquiring an additional 341,911 shares during the period. Finally, Wellington Management Group LLP raised its position in Gartner by 12.0% in the fourth quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock worth $835,826,000 after acquiring an additional 198,274 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Gartner

In other Gartner news, CEO Eugene A. Hall sold 12,082 shares of Gartner stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $504.84, for a total value of $6,099,476.88. Following the completion of the sale, the chief executive officer now directly owns 1,143,389 shares of the company’s stock, valued at approximately $577,228,502.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Gartner news, EVP Akhil Jain sold 400 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $485.00, for a total value of $194,000.00. Following the sale, the executive vice president now directly owns 4,839 shares of the company’s stock, valued at approximately $2,346,915. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Eugene A. Hall sold 12,082 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $504.84, for a total transaction of $6,099,476.88. Following the transaction, the chief executive officer now directly owns 1,143,389 shares of the company’s stock, valued at approximately $577,228,502.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,164 shares of company stock valued at $32,601,014. Company insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

IT has been the topic of a number of recent analyst reports. Robert W. Baird upped their price target on shares of Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. UBS Group increased their target price on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley boosted their price target on Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Bank of America raised their price objective on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets upped their target price on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $521.00.

Gartner Price Performance

Shares of NYSE:IT opened at $507.35 on Wednesday. Gartner, Inc. has a one year low of $323.61 and a one year high of $515.09. The stock has a market cap of $39.39 billion, a PE ratio of 50.48, a price-to-earnings-growth ratio of 3.89 and a beta of 1.32. The business’s fifty day moving average price is $479.41 and its two-hundred day moving average price is $461.18. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.20. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the company posted $2.85 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts forecast that Gartner, Inc. will post 11.59 EPS for the current fiscal year.

Gartner Company 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.