Custom Index Systems LLC Grows Holdings in Gartner, Inc. (NYSE:IT)

Custom Index Systems LLC grew its stake in Gartner, Inc. (NYSE:IT) by 3.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,040 shares of the information technology services provider’s stock after acquiring an additional 32 shares during the period. Custom Index Systems LLC’s holdings in Gartner were worth $467,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Frazier Financial Advisors LLC acquired a new position in shares of Gartner in the fourth quarter valued at approximately $27,000. DSM Capital Partners LLC acquired a new position in shares of Gartner in the fourth quarter valued at approximately $32,000. Central Pacific Bank Trust Division acquired a new position in shares of Gartner in the first quarter valued at approximately $36,000. Crewe Advisors LLC grew its holdings in shares of 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 in the last quarter. Finally, J.Safra Asset Management Corp grew its holdings 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 valued at $70,000 after purchasing an additional 54 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Karen E. Dykstra sold 1,683 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $465.55, for a total value of $783,520.65. Following the completion of the transaction, the director now owns 19,825 shares in the company, valued at approximately $9,229,528.75. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Karen E. Dykstra sold 1,683 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $465.55, for a total value of $783,520.65. Following the completion of the sale, the director now owns 19,825 shares in the company, valued at approximately $9,229,528.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Akhil Jain sold 400 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $485.00, for a total transaction of $194,000.00. Following the completion of the sale, the executive vice president now owns 4,839 shares of the company’s stock, valued at approximately $2,346,915. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,998 shares of company stock worth $13,834,898. Corporate insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on IT shares. Morgan Stanley lifted their price objective on shares of Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Bank of America lifted their price objective on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets boosted their price target on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Wells Fargo & Company upgraded shares of Gartner to a “strong sell” rating in a report on Tuesday, August 13th. 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. Based on data from MarketBeat.com, Gartner currently has an average rating of “Hold” and a consensus price target of $521.00.

Gartner Trading Up 0.0 %

Shares of Gartner stock opened at $483.68 on Friday. The company has a fifty day simple moving average of $471.55 and a 200-day simple moving average of $459.03. Gartner, Inc. has a 12-month low of $323.61 and a 12-month high of $509.15. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.80. The stock has a market cap of $37.55 billion, a price-to-earnings ratio of 48.13, a PEG ratio of 3.83 and a beta of 1.32.

Gartner (NYSE:IT) last issued its 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 net margin of 13.67% and a return on equity of 142.05%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the business posted $2.85 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities 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.