Syon Capital LLC Grows Holdings in Gartner, Inc. (NYSE:IT)

Syon Capital LLC grew its position in Gartner, Inc. (NYSE:IT) by 6.1% in the fourth quarter, HoldingsChannel reports. The fund owned 933 shares of the information technology services provider’s stock after acquiring an additional 54 shares during the quarter. Syon Capital LLC’s holdings in Gartner were worth $421,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. raised its holdings in Gartner by 30.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,565,046 shares of the information technology services provider’s stock worth $537,766,000 after purchasing an additional 364,128 shares during the period. American Century Companies Inc. increased its position in shares of Gartner by 888.4% in the third quarter. American Century Companies Inc. now owns 300,106 shares of the information technology services provider’s stock valued at $103,119,000 after buying an additional 269,744 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in shares of Gartner during the 3rd quarter worth approximately $83,588,000. Allspring Global Investments Holdings LLC lifted its position in shares of Gartner by 384.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 201,553 shares of the information technology services provider’s stock valued at $69,257,000 after buying an additional 159,989 shares in the last quarter. Finally, Artisan Partners Limited Partnership acquired a new stake in Gartner in the 3rd quarter valued at $48,614,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Gartner

In other Gartner news, EVP Yvonne Genovese sold 560 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $457.37, for a total transaction of $256,127.20. Following the transaction, the executive vice president now owns 2,398 shares of the company’s stock, valued at $1,096,773.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Valentin Sribar sold 682 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $453.00, for a total transaction of $308,946.00. Following the completion of the sale, the executive vice president now directly owns 12,269 shares of the company’s stock, valued at approximately $5,557,857. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Yvonne Genovese sold 560 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $457.37, for a total transaction of $256,127.20. Following the completion of the sale, the executive vice president now directly owns 2,398 shares in the company, valued at $1,096,773.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,952 shares of company stock valued at $10,598,070. 3.60% of the stock is currently owned by insiders.

Gartner Price Performance

Shares of NYSE IT opened at $448.78 on Friday. The firm has a 50-day simple moving average of $464.86 and a 200-day simple moving average of $437.23. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.60. The stock has a market capitalization of $34.99 billion, a price-to-earnings ratio of 40.58, a price-to-earnings-growth ratio of 4.10 and a beta of 1.29. Gartner, Inc. has a 52 week low of $293.73 and a 52 week high of $486.54.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.21. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. Gartner had a net margin of 14.94% and a return on equity of 156.35%. Gartner’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.70 EPS. On average, equities analysts predict that Gartner, Inc. will post 11.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IT has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Gartner in a research report on Tuesday, April 16th. They set a “hold” rating and a $507.00 price objective for the company. BMO Capital Markets upped their price target on shares of Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Morgan Stanley boosted their price objective on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Finally, UBS Group raised Gartner from a “neutral” rating to a “buy” rating and increased their target price for the company from $484.00 to $550.00 in a report on Thursday, April 11th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Gartner currently has an average rating of “Hold” and an average target price of $477.60.

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.