Kendall Capital Management Buys 2,116 Shares of Gartner, Inc. (NYSE:IT)

Kendall Capital Management boosted its holdings in shares of Gartner, Inc. (NYSE:IT) by 39.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 7,413 shares of the information technology services provider’s stock after acquiring an additional 2,116 shares during the quarter. Gartner comprises 1.1% of Kendall Capital Management’s portfolio, making the stock its 24th biggest holding. Kendall Capital Management’s holdings in Gartner were worth $3,591,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in Gartner during the 4th quarter valued at $29,000. Ashton Thomas Securities LLC purchased a new position in Gartner during the 3rd quarter valued at $44,000. SBI Securities Co. Ltd. purchased a new position in Gartner during the 4th quarter valued at $49,000. True Wealth Design LLC boosted its holdings in Gartner by 2,350.0% during the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after acquiring an additional 94 shares during the period. Finally, Promus Capital LLC purchased a new position in Gartner during the 4th quarter valued at $57,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Activity at Gartner

In other news, SVP John J. Rinello sold 90 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the sale, the senior vice president now owns 3,259 shares in the company, valued at $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eileen Serra sold 1,200 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the sale, the director now owns 1,627 shares in the company, valued at $796,855.79. The trade was a 42.45 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by corporate insiders.

Gartner Trading Down 0.2 %

Shares of NYSE:IT opened at $482.18 on Friday. The business’s 50-day moving average is $509.85 and its 200 day moving average is $509.97. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $584.01. The firm has a market capitalization of $37.04 billion, a P/E ratio of 30.08, a P/E/G ratio of 3.30 and a beta of 1.29. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $2.23. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the prior year, the company posted $3.04 EPS. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, research analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on IT shares. Robert W. Baird upped their target price on Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. Wells Fargo & Company lowered their target price on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. Morgan Stanley lowered their target price on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Finally, StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $552.63.

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.