Xponance Inc. Lowers Stock Holdings in Gartner, Inc. (NYSE:IT)

Xponance Inc. reduced its stake in shares of Gartner, Inc. (NYSE:IT) by 0.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,662 shares of the information technology services provider’s stock after selling 139 shares during the period. Xponance Inc.’s holdings in Gartner were worth $11,973,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can increased its holdings in shares of Gartner by 2.9% during the 2nd quarter. Bank of Montreal Can now owns 86,031 shares of the information technology services provider’s stock worth $38,723,000 after buying an additional 2,402 shares during the last quarter. Public Sector Pension Investment Board increased its stake in shares of Gartner by 66.0% during the second quarter. Public Sector Pension Investment Board now owns 2,930 shares of the information technology services provider’s stock worth $1,316,000 after buying an additional 1,165 shares during the period. DRW Securities LLC acquired a new stake in Gartner in the second quarter valued at approximately $340,000. EverSource Wealth Advisors LLC grew its holdings in Gartner by 39.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 383 shares of the information technology services provider’s stock worth $172,000 after acquiring an additional 108 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Gartner by 6.6% during the 2nd quarter. ProShare Advisors LLC now owns 14,240 shares of the information technology services provider’s stock worth $6,395,000 after purchasing an additional 885 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Bank of America lifted their price objective on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley boosted their price objective on shares of Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. Robert W. Baird raised their price objective on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Wells Fargo & Company raised Gartner to a “strong sell” rating in a research note on Tuesday, August 13th. Finally, UBS Group raised their price target on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One equities 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 stock. According to MarketBeat, Gartner presently has a consensus rating of “Hold” and a consensus price target of $521.00.

Gartner Price Performance

IT opened at $516.38 on Tuesday. The stock has a market capitalization of $40.09 billion, a PE ratio of 51.38, a P/E/G ratio of 3.89 and a beta of 1.32. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. The company’s 50 day simple moving average is $484.29 and its 200 day simple moving average is $462.45. Gartner, Inc. has a 1 year low of $323.61 and a 1 year high of $517.48.

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

Insider Activity at Gartner

In other 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 transaction of $194,000.00. Following the transaction, the executive vice president now owns 4,839 shares of the company’s stock, valued at $2,346,915. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Anne Sutherland Fuchs sold 500 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 directly owns 8,059 shares of the company’s stock, valued at $4,072,051.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Akhil Jain sold 400 shares of Gartner stock in a transaction that occurred on 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 approximately $2,346,915. The disclosure for this sale can be found here. In the last three months, insiders sold 65,164 shares of company stock worth $32,601,014. Corporate insiders own 3.60% of the company’s stock.

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.