Mather Group LLC. Grows Stake in Gartner, Inc. (NYSE:IT)

Mather Group LLC. increased its position in Gartner, Inc. (NYSE:IT) by 2.2% in the second quarter, HoldingsChannel reports. The firm owned 1,079 shares of the information technology services provider’s stock after purchasing an additional 23 shares during the quarter. Mather Group LLC.’s holdings in Gartner were worth $514,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. MCF Advisors LLC purchased a new stake in Gartner during the fourth quarter valued at $27,000. Frazier Financial Advisors LLC purchased a new stake in shares of Gartner in the fourth quarter worth approximately $27,000. DSM Capital Partners LLC purchased a new position in Gartner during the 4th quarter worth $32,000. Harbor Investment Advisory LLC boosted its position in Gartner by 7,500.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 76 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 75 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of Gartner in the 1st quarter worth $36,000. 91.51% of the stock is owned by institutional investors.

Insider Activity at Gartner

In related news, CEO Eugene A. Hall sold 12,082 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $504.84, for a total transaction of $6,099,476.88. Following the sale, the chief executive officer now owns 1,143,389 shares of the company’s stock, valued at $577,228,502.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Eugene A. Hall sold 12,082 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $504.84, for a total transaction of $6,099,476.88. Following the sale, the chief executive officer now owns 1,143,389 shares of the company’s stock, valued at $577,228,502.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Anne Sutherland Fuchs sold 500 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $505.28, for a total value of $252,640.00. Following the transaction, the director now owns 8,059 shares in the company, valued at $4,072,051.52. The disclosure for this sale can be found here. Insiders have sold a total of 36,126 shares of company stock valued at $16,937,420 over the last quarter. Insiders own 3.60% of the company’s stock.

Gartner Price Performance

IT stock traded up $15.60 on Tuesday, reaching $473.07. 429,803 shares of the company’s stock were exchanged, compared to its average volume of 409,322. The company has a quick ratio of 0.91, a current ratio of 0.90 and a debt-to-equity ratio of 3.80. The firm has a market cap of $36.72 billion, a PE ratio of 47.07, a P/E/G 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 stock has a fifty day moving average of $451.05 and a 200-day moving average of $455.19.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on IT. Robert W. Baird lifted their price target on Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Bank of America boosted their target price on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on Gartner in a research report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 target price on the stock. BMO Capital Markets increased their price objective on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley boosted their target price on Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” 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.