Citizens Financial Group Inc. RI Purchases New Holdings in Gartner, Inc. (NYSE:IT)

Citizens Financial Group Inc. RI acquired a new position in shares of Gartner, Inc. (NYSE:IT) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 788 shares of the information technology services provider’s stock, valued at approximately $354,000.

A number of other hedge funds have also made changes to their positions in IT. TCW Group Inc. boosted its stake in shares of Gartner by 4.0% in the fourth quarter. TCW Group Inc. now owns 199,062 shares of the information technology services provider’s stock worth $89,800,000 after acquiring an additional 7,639 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Gartner by 11.4% during the 1st quarter. Russell Investments Group Ltd. now owns 25,063 shares of the information technology services provider’s stock worth $11,987,000 after purchasing an additional 2,560 shares during the last quarter. Icon Wealth Advisors LLC purchased a new stake in shares of Gartner during the fourth quarter worth $2,093,000. Madison Asset Management LLC grew its stake in Gartner by 2.8% during the 4th quarter. Madison Asset Management LLC now owns 344,657 shares of the information technology services provider’s stock valued at $155,478,000 after acquiring an additional 9,538 shares in the last quarter. Finally, TFO Wealth Partners LLC lifted its stake in Gartner by 3,456.6% in the 4th quarter. TFO Wealth Partners LLC now owns 2,703 shares of the information technology services provider’s stock worth $1,219,000 after purchasing an additional 2,627 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Price Performance

Shares of IT opened at $506.49 on Thursday. The firm has a 50-day simple moving average of $480.57 and a two-hundred day simple moving average of $461.49. The stock has a market cap of $39.32 billion, a PE ratio of 50.40, a P/E/G ratio of 3.89 and a beta of 1.32. Gartner, Inc. has a 1-year low of $323.61 and a 1-year high of $515.09. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the firm earned $2.85 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. As a group, analysts forecast that Gartner, Inc. will post 11.59 EPS for the current year.

Insider Buying and Selling

In other news, EVP Claire Herkes sold 478 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $506.01, for a total value of $241,872.78. Following the sale, the executive vice president now directly owns 1,905 shares in the company, valued at $963,949.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Anne Sutherland Fuchs sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $505.28, for a total transaction of $252,640.00. Following the completion of the sale, the director now owns 8,059 shares in the company, valued at $4,072,051.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Claire Herkes sold 478 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $506.01, for a total transaction of $241,872.78. Following the completion of the transaction, the executive vice president now owns 1,905 shares of the company’s stock, valued at approximately $963,949.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,164 shares of company stock valued at $32,601,014. Corporate insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on IT shares. Morgan Stanley boosted their price objective on Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. UBS Group boosted their price target on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Bank of America raised their price objective on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. 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 research note on Wednesday, July 31st. Finally, StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One 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 company. According to data from MarketBeat.com, Gartner currently has a consensus rating of “Hold” 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.