Kendall Capital Management Has $2 Million Stock Position in Gartner, Inc. (NYSE:IT)

Kendall Capital Management grew its stake in Gartner, Inc. (NYSE:IT) by 21.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,462 shares of the information technology services provider’s stock after purchasing an additional 797 shares during the quarter. Kendall Capital Management’s holdings in Gartner were worth $2,004,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in IT. Sustainable Growth Advisers LP acquired a new position in shares of Gartner in the 2nd quarter valued at $266,541,000. First Trust Advisors LP raised its stake in Gartner by 830.4% during the 4th quarter. First Trust Advisors LP now owns 514,230 shares of the information technology services provider’s stock worth $231,974,000 after buying an additional 458,963 shares during the period. Principal Financial Group Inc. raised its stake in Gartner by 22.0% during the 2nd quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock worth $852,014,000 after buying an additional 341,911 shares during the period. Wellington Management Group LLP raised its stake in Gartner by 12.0% during the 4th quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock worth $835,826,000 after buying an additional 198,274 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Gartner by 38.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 414,559 shares of the information technology services provider’s stock worth $197,608,000 after buying an additional 114,610 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Activity

In other news, CEO Eugene A. Hall sold 12,082 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $504.84, for a total value of $6,099,476.88. Following the completion of the transaction, the chief executive officer now owns 1,143,389 shares in the company, valued at approximately $577,228,502.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Akhil Jain sold 400 shares of Gartner 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 completion of the transaction, the executive vice president now owns 4,839 shares in the company, valued at $2,346,915. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eugene A. Hall sold 12,082 shares of Gartner stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $504.84, for a total value of $6,099,476.88. Following the transaction, the chief executive officer now owns 1,143,389 shares of the company’s stock, valued at approximately $577,228,502.76. The disclosure for this sale can be found here. Insiders sold 65,164 shares of company stock worth $32,601,014 in the last quarter. Corporate insiders own 3.60% of the company’s stock.

Gartner Stock Performance

IT opened at $506.49 on Thursday. The company has a market capitalization of $39.32 billion, a price-to-earnings ratio of 50.40, a P/E/G ratio of 3.89 and a beta of 1.32. The business’s 50-day moving average price is $480.57 and its two-hundred day moving average price is $461.49. 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, Inc. has a 1 year low of $323.61 and a 1 year high of $515.09.

Gartner (NYSE:IT) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. Gartner’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.85 EPS. Equities analysts expect that Gartner, Inc. will post 11.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. UBS Group raised their price objective on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets raised their price objective on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Morgan Stanley raised 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. Robert W. Baird raised their price objective on Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Bank of America raised their price objective on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $521.00.

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.