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

Custom Index Systems LLC boosted its holdings in Gartner, Inc. (NYSE:IT) by 3.2% in the 2nd quarter, Holdings Channel reports. The firm owned 1,040 shares of the information technology services provider’s stock after purchasing 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 Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new position in Gartner during the 2nd quarter worth $650,000. One Wealth Management Investment & Advisory Services LLC raised its position in Gartner by 2.7% during the 2nd quarter. One Wealth Management Investment & Advisory Services LLC now owns 1,271 shares of the information technology services provider’s stock worth $571,000 after buying an additional 33 shares during the last quarter. Illinois Municipal Retirement Fund raised its position in Gartner by 3.0% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 50,656 shares of the information technology services provider’s stock worth $22,748,000 after buying an additional 1,488 shares during the last quarter. UNIVEST FINANCIAL Corp purchased a new position in Gartner during the 2nd quarter worth $350,000. Finally, Candriam S.C.A. raised its position in Gartner by 11.3% during the 2nd quarter. Candriam S.C.A. now owns 6,427 shares of the information technology services provider’s stock worth $2,886,000 after buying an additional 654 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Activity at Gartner

In related news, EVP Akhil Jain sold 400 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $485.00, for a total value of $194,000.00. Following the sale, the executive vice president now directly owns 4,839 shares of the company’s stock, valued at approximately $2,346,915. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Gartner news, EVP Alwyn Dawkins sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total transaction of $505,490.00. Following the sale, the executive vice president now directly owns 56,650 shares of the company’s stock, valued at approximately $28,636,008.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Akhil Jain sold 400 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $485.00, for a total transaction of $194,000.00. Following the sale, the executive vice president now directly owns 4,839 shares in the company, valued at $2,346,915. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,998 shares of company stock valued at $13,834,898. Insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley upped their price objective on shares of Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Wells Fargo & Company upgraded shares of Gartner to a “strong sell” rating in a report on Tuesday, August 13th. BMO Capital Markets increased their price target on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Finally, Robert W. Baird increased their price target on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $521.00.

Gartner Price Performance

Shares of NYSE IT opened at $483.68 on Friday. 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, Inc. has a 52 week low of $323.61 and a 52 week high of $509.15. The company’s 50-day moving average price is $471.55 and its 200 day moving average price is $459.03. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.80.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.20. The firm had revenue of $1.60 billion for 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 firm’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.85 EPS. As a group, research analysts forecast that Gartner, Inc. will post 11.59 earnings per share for the current fiscal 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.