Signet Financial Management LLC Raises Holdings in Gartner, Inc. (NYSE:IT)

Signet Financial Management LLC boosted its stake in shares of Gartner, Inc. (NYSE:IT) by 1.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 7,481 shares of the information technology services provider’s stock after acquiring an additional 126 shares during the period. Signet Financial Management LLC’s holdings in Gartner were worth $3,566,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Morgan Stanley increased its holdings in shares of Gartner by 4.6% in the 3rd quarter. Morgan Stanley now owns 2,157,075 shares of the information technology services provider’s stock valued at $741,193,000 after acquiring an additional 95,040 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Gartner by 12.0% in the 4th quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock valued at $835,826,000 after acquiring an additional 198,274 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of Gartner by 4.6% in the 4th quarter. Brown Advisory Inc. now owns 1,208,914 shares of the information technology services provider’s stock valued at $545,353,000 after acquiring an additional 52,826 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Gartner by 18.5% in the 4th quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock valued at $415,344,000 after acquiring an additional 143,556 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Gartner in the 4th quarter valued at about $388,781,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on IT shares. Robert W. Baird decreased their target price on Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. UBS Group decreased their target price on Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. BMO Capital Markets decreased their price objective on Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Gartner in a research report on Tuesday, April 16th. They set a “hold” rating and a $507.00 price objective for the company. Finally, StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $474.50.

Insider Activity at Gartner

In other Gartner news, EVP Yvonne Genovese sold 439 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $456.13, for a total transaction of $200,241.07. Following the completion of the transaction, the executive vice president now owns 1,959 shares of the company’s stock, valued at $893,558.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Yvonne Genovese sold 439 shares of Gartner stock in a transaction on Monday, May 20th. The stock was sold at an average price of $456.13, for a total value of $200,241.07. Following the completion of the sale, the executive vice president now owns 1,959 shares of the company’s stock, valued at $893,558.67. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James C. Smith sold 10,000 shares of Gartner stock in a transaction on Monday, May 20th. The shares were sold at an average price of $455.20, for a total value of $4,552,000.00. Following the completion of the sale, the director now directly owns 608,369 shares of the company’s stock, valued at approximately $276,929,568.80. The disclosure for this sale can be found here. Insiders sold 22,544 shares of company stock valued at $10,079,813 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Gartner Price Performance

Shares of IT traded down $0.11 during mid-day trading on Thursday, hitting $446.39. The company’s stock had a trading volume of 78,684 shares, compared to its average volume of 409,258. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.42. The firm has a 50-day simple moving average of $438.99 and a 200 day simple moving average of $452.35. The firm has a market capitalization of $34.65 billion, a P/E ratio of 44.43, a P/E/G ratio of 3.94 and a beta of 1.32. Gartner, Inc. has a 1-year low of $323.61 and a 1-year high of $486.54.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.53 by $0.40. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $2.88 EPS. Analysts predict that Gartner, Inc. will post 11.55 EPS for the current fiscal year.

About Gartner

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.