Procyon Advisors LLC Purchases 38 Shares of Gartner, Inc. (NYSE:IT)

Procyon Advisors LLC raised its position in Gartner, Inc. (NYSE:IT) by 1.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,641 shares of the information technology services provider’s stock after purchasing an additional 38 shares during the quarter. Procyon Advisors LLC’s holdings in Gartner were worth $1,279,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its stake in shares of Gartner by 1.1% in the third quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock worth $1,650,697,000 after purchasing an additional 36,258 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Gartner by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider’s stock worth $1,020,378,000 after buying an additional 36,698 shares during the period. Principal Financial Group Inc. lifted its holdings in Gartner by 5.5% in the 3rd quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after buying an additional 103,814 shares during the period. JPMorgan Chase & Co. grew its position in shares of Gartner by 7.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock worth $525,272,000 after buying an additional 70,236 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Gartner by 3.3% during the third quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider’s stock valued at $422,678,000 after buying an additional 25,315 shares during the period. 91.51% of the stock is owned by institutional investors.

Insider Transactions at Gartner

In related news, EVP William James Wartinbee III sold 189 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $523.54, for a total transaction of $98,949.06. Following the completion of the sale, the executive vice president now owns 7,311 shares of the company’s stock, valued at $3,827,600.94. This trade represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Claire Herkes sold 411 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total value of $214,229.64. Following the completion of the transaction, the executive vice president now directly owns 1,494 shares in the company, valued at $778,732.56. This trade represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,583 shares of company stock valued at $19,241,974 in the last quarter. 3.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on IT. Wells Fargo & Company dropped their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Morgan Stanley dropped their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research report on Thursday. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $525.00 to $600.00 in a research report on Friday, January 10th. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $550.75.

Gartner Price Performance

Shares of NYSE IT opened at $516.34 on Friday. The company has a 50 day simple moving average of $507.49 and a two-hundred day simple moving average of $498.03. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $559.00. The company has a market capitalization of $39.83 billion, a price-to-earnings ratio of 38.08, a P/E/G ratio of 2.72 and a beta of 1.33. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the company earned $2.56 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts expect that Gartner, Inc. will post 11.87 EPS 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.