Transcend Capital Advisors LLC Takes Position in Gartner, Inc. (NYSE:IT)

Transcend Capital Advisors LLC acquired a new stake in shares of Gartner, Inc. (NYSE:IT) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,141 shares of the information technology services provider’s stock, valued at approximately $512,000.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Gartner by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 8,974,760 shares of the information technology services provider’s stock worth $4,277,999,000 after buying an additional 60,786 shares during the period. Wellington Management Group LLP boosted its holdings in 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 worth $835,826,000 after buying an additional 198,274 shares during the period. Principal Financial Group Inc. boosted its holdings in Gartner by 0.7% in the 1st quarter. Principal Financial Group Inc. now owns 1,555,417 shares of the information technology services provider’s stock worth $741,420,000 after buying an additional 10,718 shares during the period. Brown Advisory Inc. boosted its holdings in 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 worth $545,353,000 after buying an additional 52,826 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Gartner by 18.5% in the 4th quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock worth $415,344,000 after buying an additional 143,556 shares during the period. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

IT has been the topic of several recent research reports. UBS Group upped their target price on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. 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 report on Wednesday. Morgan Stanley upped their target price on shares of Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Gartner in a research report on Tuesday, April 16th. They set a “hold” rating and a $507.00 target price on the stock. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Gartner has an average rating of “Moderate Buy” and a consensus target price of $521.00.

Insider Buying and Selling

In related news, Director Anne Sutherland Fuchs sold 705 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $428.99, for a total transaction of $302,437.95. Following the completion of 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 SEC, which is available at the SEC website. In other Gartner news, EVP Alwyn Dawkins sold 600 shares of Gartner stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $447.63, for a total value of $268,578.00. Following the completion of the transaction, the executive vice president now owns 51,583 shares of the company’s stock, valued at $23,090,098.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anne Sutherland Fuchs sold 705 shares of Gartner stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $428.99, for a total transaction of $302,437.95. Following the completion of the transaction, the director now directly owns 8,524 shares of the company’s stock, valued at approximately $3,656,710.76. The disclosure for this sale can be found here. Insiders sold a total of 36,126 shares of company stock valued at $16,937,420 over the last 90 days. Insiders own 3.60% of the company’s stock.

Gartner Stock Down 2.8 %

IT traded down $13.98 during trading on Friday, hitting $479.29. The stock had a trading volume of 366,114 shares, compared to its average volume of 398,155. The stock has a 50 day simple moving average of $449.91 and a two-hundred day simple moving average of $455.17. The company has a market capitalization of $37.21 billion, a PE ratio of 47.69, a PEG ratio of 3.80 and a beta of 1.33. 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.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $2.85 earnings per share. On average, research analysts predict that Gartner, Inc. will post 11.58 earnings per share for the current 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.