Shelton Capital Management Makes New $2.39 Million Investment in Gartner, Inc. (NYSE:IT)

Shelton Capital Management bought a new position in shares of Gartner, Inc. (NYSE:IT) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,808 shares of the information technology services provider’s stock, valued at approximately $2,385,000.

Other institutional investors have also made changes to their positions in the company. Arlington Partners LLC increased its holdings in shares of Gartner by 275.0% during the 2nd quarter. Arlington Partners LLC now owns 75 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 55 shares during the last quarter. Resurgent Financial Advisors LLC acquired a new position in shares of Gartner during the 4th quarter worth approximately $29,000. Venturi Wealth Management LLC acquired a new position in shares of Gartner during the 1st quarter worth approximately $35,000. Cullen Frost Bankers Inc. increased its holdings in shares of Gartner by 268.8% during the 1st quarter. Cullen Frost Bankers Inc. now owns 118 shares of the information technology services provider’s stock worth $38,000 after acquiring an additional 86 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC acquired a new position in shares of Gartner during the 1st quarter worth approximately $39,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Akhil Jain sold 100 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was 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 owns 3,311 shares of the company’s stock, valued at $1,326,254.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Gartner news, SVP William James Wartinbee III sold 416 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $403.09, for a total value of $167,685.44. Following the transaction, the senior vice president now owns 6,641 shares in the company, valued at $2,676,920.69. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Akhil Jain sold 100 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $400.56, for a total value of $40,056.00. Following the completion of the transaction, the executive vice president now owns 3,311 shares in the company, valued at approximately $1,326,254.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,415 shares of company stock valued at $35,288,340. Company insiders own 3.90% of the company’s stock.

Gartner Price Performance

Shares of IT stock opened at $417.61 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 4.32. Gartner, Inc. has a twelve month low of $292.60 and a twelve month high of $425.96. The company has a market cap of $32.55 billion, a P/E ratio of 35.91, a P/E/G ratio of 5.98 and a beta of 1.24. The business has a fifty day simple moving average of $360.89 and a 200 day simple moving average of $348.39.

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

Gartner declared that its board has authorized 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 usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

IT has been the topic of a number of research reports. BMO Capital Markets decreased their price objective on Gartner from $352.00 to $346.00 in a report on Thursday, August 3rd. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a report on Monday, November 6th. Finally, Morgan Stanley upped their price objective on Gartner from $366.00 to $372.00 and gave the company an “equal weight” rating in a report on Wednesday, August 2nd. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Gartner currently has a consensus rating of “Hold” and a consensus target price of $363.20.

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.