E Fund Management Co. Ltd. Grows Holdings in Gartner, Inc. (NYSE:IT)

E Fund Management Co. Ltd. increased its stake in shares of Gartner, Inc. (NYSE:IT) by 29.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,114 shares of the information technology services provider’s stock after purchasing an additional 252 shares during the period. E Fund Management Co. Ltd.’s holdings in Gartner were worth $500,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Frazier Financial Advisors LLC purchased a new stake in Gartner during the fourth quarter worth about $27,000. DSM Capital Partners LLC acquired a new position in shares of Gartner in the fourth quarter valued at approximately $32,000. Central Pacific Bank Trust Division purchased a new stake in Gartner during the 1st quarter worth approximately $36,000. Crewe Advisors LLC boosted its position in Gartner by 223.3% in the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after buying an additional 67 shares during the period. Finally, J.Safra Asset Management Corp increased its position in shares of Gartner by 58.7% during the first quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock worth $70,000 after acquiring an additional 54 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Eugene A. Hall sold 12,082 shares of the company’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 sale, the chief executive officer now directly owns 1,143,389 shares of the company’s stock, valued at approximately $577,228,502.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Akhil Jain sold 400 shares of the company’s 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 completion of the sale, the executive vice president now directly 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 available through this link. Also, 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 transaction, the chief executive officer now directly owns 1,143,389 shares in the company, valued at approximately $577,228,502.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,164 shares of company stock valued at $32,601,014. 3.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wells Fargo & Company upgraded Gartner to a “strong sell” rating in a report on Tuesday, August 13th. Bank of America boosted their price objective on 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 raised their target price on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Morgan Stanley lifted their price target on shares of Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Finally, StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $521.00.

Gartner Stock Performance

Shares of 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 price-to-earnings-growth ratio of 3.89 and a beta of 1.32. Gartner, Inc. has a 52-week low of $323.61 and a 52-week high of $515.09. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 3.80. The stock has a 50 day moving average price of $480.57 and a 200 day moving average price of $461.49.

Gartner (NYSE:IT) last issued its 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 net margin of 13.67% and a return on equity of 142.05%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the business posted $2.85 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts predict that Gartner, Inc. will post 11.59 EPS for the current fiscal year.

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.