AXS Investments LLC Acquires 1,924 Shares of Gartner, Inc. (NYSE:IT)

AXS Investments LLC raised its holdings in Gartner, Inc. (NYSE:IT) by 111.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,658 shares of the information technology services provider’s stock after acquiring an additional 1,924 shares during the quarter. AXS Investments LLC’s holdings in Gartner were worth $1,281,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IT. US Bancorp DE boosted its stake in Gartner by 6.0% in the first quarter. US Bancorp DE now owns 2,563 shares of the information technology services provider’s stock valued at $762,000 after acquiring an additional 144 shares during the last quarter. Aviva PLC boosted its position in shares of Gartner by 53.3% during the first quarter. Aviva PLC now owns 42,028 shares of the information technology services provider’s stock worth $12,502,000 after purchasing an additional 14,618 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Gartner by 9.5% during the first quarter. Canada Pension Plan Investment Board now owns 27,043 shares of the information technology services provider’s stock worth $8,044,000 after purchasing an additional 2,347 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of Gartner by 25.2% during the first quarter. Allianz Asset Management GmbH now owns 98,889 shares of the information technology services provider’s stock worth $29,415,000 after purchasing an additional 19,892 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Gartner by 1.1% during the first quarter. Vanguard Group Inc. now owns 9,198,161 shares of the information technology services provider’s stock worth $2,736,085,000 after purchasing an additional 102,709 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Akhil Jain sold 100 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $400.56, for a total value of $40,056.00. Following the sale, the executive vice president now directly owns 3,311 shares of the company’s stock, valued at approximately $1,326,254.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Michael Patrick Diliberto sold 7,938 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $335.09, for a total value of $2,659,944.42. Following the sale, the executive vice president now directly owns 18,501 shares of the company’s stock, valued at approximately $6,199,500.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Akhil Jain sold 100 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $400.56, for a total transaction of $40,056.00. Following the completion of the sale, the executive vice president now directly owns 3,311 shares in the company, valued at $1,326,254.16. The disclosure for this sale can be found here. Insiders have sold 91,415 shares of company stock valued at $35,288,340 in the last three months. 3.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IT. BMO Capital Markets reduced their price target on shares of Gartner from $352.00 to $346.00 in a research report on Thursday, August 3rd. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. Finally, Morgan Stanley lifted their price target on shares of Gartner from $366.00 to $372.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 2nd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Gartner has an average rating of “Hold” and a consensus price target of $363.20.

Gartner Stock Down 0.6 %

Shares of NYSE:IT traded down $2.49 during midday trading on Friday, reaching $417.61. 521,753 shares of the company were exchanged, compared to its average volume of 481,538. Gartner, Inc. has a fifty-two week low of $292.60 and a fifty-two week high of $425.96. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 4.32. The stock has a fifty day simple moving average of $360.89 and a two-hundred day simple moving average of $348.07. The firm has a market cap of $32.55 billion, a PE ratio of 35.91, a P/E/G ratio of 5.98 and a beta of 1.24.

Gartner (NYSE:IT) last issued its quarterly earnings results on Friday, November 3rd. The information technology services provider reported $2.56 EPS for the quarter, topping the consensus estimate of $1.96 by $0.60. Gartner had a net margin of 15.97% and a return on equity of 206.71%. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the previous year, the firm posted $2.41 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, sell-side analysts forecast that Gartner, Inc. will post 11.03 earnings per share for the current year.

Gartner declared that its Board of Directors has approved a share buyback plan on Friday, November 3rd that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

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.