Gardner Lewis Asset Management L P Increases Stock Position in Gartner, Inc. (NYSE:IT)

Gardner Lewis Asset Management L P increased its position in Gartner, Inc. (NYSE:IT) by 5.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 9,660 shares of the information technology services provider’s stock after buying an additional 517 shares during the period. Gardner Lewis Asset Management L P’s holdings in Gartner were worth $4,338,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC purchased a new stake in Gartner during the fourth quarter worth approximately $27,000. DSM Capital Partners LLC acquired a new stake in Gartner in the 4th quarter valued at $32,000. Central Pacific Bank Trust Division purchased a new position in Gartner in the first quarter valued at about $36,000. Crewe Advisors LLC raised its position in Gartner by 223.3% in the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after purchasing an additional 67 shares during the period. Finally, J.Safra Asset Management Corp boosted its position in shares of Gartner by 58.7% in the first quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock worth $70,000 after buying an additional 54 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Alwyn Dawkins sold 1,000 shares of Gartner stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total value of $505,490.00. Following the completion of the transaction, the executive vice president now directly owns 56,650 shares of the company’s stock, valued at approximately $28,636,008.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Eugene A. Hall sold 34,060 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the completion of the transaction, the chief executive officer now owns 1,143,401 shares of the company’s stock, valued at $577,874,865.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Alwyn Dawkins sold 1,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $505.49, for a total transaction of $505,490.00. Following the transaction, the executive vice president now owns 56,650 shares of the company’s stock, valued at approximately $28,636,008.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,164 shares of company stock valued at $32,601,014. Company insiders own 3.60% of the company’s stock.

Gartner Stock Performance

Shares of Gartner stock opened at $507.35 on Wednesday. The firm 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. Gartner, Inc. has a 1 year low of $323.61 and a 1 year high of $515.09. The firm’s 50-day simple moving average is $479.41 and its 200-day simple moving average 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 released its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. Gartner’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.85 EPS. Equities analysts forecast that Gartner, Inc. will post 11.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.