1,253 Shares in Gartner Inc (NYSE:IT) Acquired by NewFocus Financial Group LLC

NewFocus Financial Group LLC purchased a new position in Gartner Inc (NYSE:IT) during the second quarter, HoldingsChannel reports. The fund purchased 1,253 shares of the information technology services provider’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of IT. World Asset Management Inc raised its holdings in Gartner by 2.7% during the 2nd quarter. World Asset Management Inc now owns 5,842 shares of the information technology services provider’s stock valued at $940,000 after buying an additional 156 shares during the period. State of Alaska Department of Revenue raised its holdings in Gartner by 32.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 20,672 shares of the information technology services provider’s stock valued at $3,326,000 after buying an additional 5,100 shares during the period. Jag Capital Management LLC purchased a new stake in Gartner during the 2nd quarter valued at $3,411,000. FDx Advisors Inc. raised its holdings in Gartner by 212.3% during the 2nd quarter. FDx Advisors Inc. now owns 40,620 shares of the information technology services provider’s stock valued at $6,537,000 after buying an additional 27,612 shares during the period. Finally, Norris Perne & French LLP MI raised its holdings in Gartner by 0.4% during the 2nd quarter. Norris Perne & French LLP MI now owns 60,108 shares of the information technology services provider’s stock valued at $9,674,000 after buying an additional 257 shares during the period. 99.03% of the stock is currently owned by institutional investors.

In other news, Director Karen E. Dykstra sold 1,812 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $150.22, for a total transaction of $272,198.64. Following the transaction, the director now owns 20,698 shares of the company’s stock, valued at approximately $3,109,253.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alwyn Dawkins sold 700 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $153.50, for a total value of $107,450.00. Following the transaction, the executive vice president now directly owns 35,556 shares in the company, valued at approximately $5,457,846. The disclosure for this sale can be found here. Insiders sold a total of 13,610 shares of company stock worth $2,103,725 in the last ninety days. 4.00% of the stock is currently owned by corporate insiders.

Shares of Gartner stock opened at $136.21 on Friday. The firm has a fifty day simple moving average of $163.60. The company has a market cap of $12.46 billion, a P/E ratio of 35.94, a PEG ratio of 2.78 and a beta of 1.26. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 3.34. Gartner Inc has a 52 week low of $120.89 and a 52 week high of $171.77.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $1.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.27. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. Gartner had a return on equity of 38.95% and a net margin of 5.43%. Gartner’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 EPS. On average, equities analysts anticipate that Gartner Inc will post 3.52 EPS for the current year.

Several analysts recently weighed in on IT shares. Morgan Stanley decreased their price target on Gartner from $156.00 to $155.00 and set an “equal weight” rating on the stock in a report on Wednesday. Cantor Fitzgerald increased their price target on Gartner from $141.00 to $152.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. BMO Capital Markets decreased their price target on Gartner to $142.00 and set a “market perform” rating on the stock in a report on Wednesday. Zacks Investment Research upgraded Gartner from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. Finally, ValuEngine downgraded Gartner from a “buy” rating to a “hold” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Gartner has an average rating of “Hold” and a consensus target price of $147.63.

Gartner Profile

Gartner, Inc operates as a research and advisory company. It operates through three segments: Research, Conferences, and Consulting. The Research segment offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through research and other reports, briefings, proprietary tools, access to analysts, peer networking services, and membership programs that enable clients to make better decisions; and practice and talent management research insights in various business functions, such as human resources, sales, legal, and finance.

Further Reading: Cost of Goods Sold (COGS)

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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