Boston Financial Mangement LLC Raises Stake in Gartner, Inc. (NYSE:IT)

Boston Financial Mangement LLC raised its position in Gartner, Inc. (NYSE:IT) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,225 shares of the information technology services provider’s stock after purchasing an additional 422 shares during the period. Boston Financial Mangement LLC’s holdings in Gartner were worth $10,429,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Gartner in the fourth quarter valued at $388,781,000. First Trust Advisors LP raised its position in shares of Gartner by 830.4% during the 4th quarter. First Trust Advisors LP now owns 514,230 shares of the information technology services provider’s stock worth $231,974,000 after acquiring an additional 458,963 shares in the last quarter. Principal Financial Group Inc. lifted its stake 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 purchasing an additional 341,911 shares during the last quarter. Wellington Management Group LLP boosted its holdings 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 valued at $835,826,000 after purchasing an additional 198,274 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Gartner by 18.5% in the fourth quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock valued at $415,344,000 after purchasing an additional 143,556 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Stock Performance

NYSE IT traded up $6.08 during trading on Friday, reaching $491.96. The company’s stock had a trading volume of 396,204 shares, compared to its average volume of 394,223. The business’s fifty day moving average price is $467.82 and its 200-day moving average price is $457.68. Gartner, Inc. has a twelve month low of $323.61 and a twelve month high of $509.15. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.91 and a current ratio of 0.90. The firm has a market cap of $38.19 billion, a price-to-earnings ratio of 48.95, a P/E/G ratio of 3.80 and a beta of 1.33.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.20. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the firm posted $2.85 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, analysts anticipate that Gartner, Inc. will post 11.58 EPS for the current fiscal year.

Insider Transactions at Gartner

In other news, EVP Yvonne Genovese sold 443 shares of Gartner stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $483.62, for a total value of $214,243.66. Following the sale, the executive vice president now owns 1,959 shares of the company’s stock, valued at $947,411.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Anne Sutherland Fuchs sold 705 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $428.99, for a total transaction of $302,437.95. Following the transaction, the director now owns 8,524 shares of the company’s stock, valued at $3,656,710.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Yvonne Genovese sold 443 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $483.62, for a total value of $214,243.66. Following the completion of the sale, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at approximately $947,411.58. The disclosure for this sale can be found here. Insiders sold 33,123 shares of company stock worth $15,796,036 over the last 90 days. 3.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

IT has been the subject of several recent analyst reports. Wells Fargo & Company upgraded shares of Gartner to a “strong sell” rating in a research report on Tuesday, August 13th. BMO Capital Markets boosted their price target on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Robert W. Baird raised their price objective on Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Morgan Stanley lifted their target price on Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Finally, UBS Group upped their target price on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research 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 assigned a buy rating to the stock. According to MarketBeat, Gartner currently has a consensus rating of “Hold” and an average price target of $521.00.

Gartner 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.