Lecap Asset Management Ltd. Grows Stock Holdings in Gartner, Inc. (NYSE:IT)

Lecap Asset Management Ltd. lifted its position in shares of Gartner, Inc. (NYSE:IT) by 360.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,877 shares of the information technology services provider’s stock after buying an additional 3,035 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Gartner were worth $1,627,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of IT. Norges Bank purchased a new position in shares of Gartner during the 4th quarter valued at $460,541,000. Madison Investment Advisors LLC purchased a new stake in Gartner in the 4th quarter worth $244,799,000. GAMMA Investing LLC lifted its stake in Gartner by 40,841.0% in the 1st quarter. GAMMA Investing LLC now owns 499,071 shares of the information technology services provider’s stock worth $209,480,000 after purchasing an additional 497,852 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Gartner in the 4th quarter worth $165,476,000. Finally, BNP Paribas Financial Markets lifted its stake in Gartner by 184.6% in the 4th quarter. BNP Paribas Financial Markets now owns 390,472 shares of the information technology services provider’s stock worth $189,172,000 after purchasing an additional 253,288 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Stock Up 0.6%

Shares of NYSE IT opened at $402.80 on Thursday. The stock has a market capitalization of $31.00 billion, a price-to-earnings ratio of 25.07, a P/E/G ratio of 2.60 and a beta of 1.23. Gartner, Inc. has a 12-month low of $366.05 and a 12-month high of $584.01. The firm’s 50-day moving average price is $423.51 and its 200-day moving average price is $460.43. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.64.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, beating the consensus estimate of $2.72 by $0.26. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Gartner had a net margin of 19.82% and a return on equity of 96.70%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.93 EPS. On average, equities research analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Analyst Ratings Changes

IT has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on shares of Gartner from $401.00 to $400.00 and set an “underweight” rating on the stock in a research note on Thursday, May 1st. The Goldman Sachs Group decreased their price target on shares of Gartner from $622.00 to $535.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen cut shares of Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Robert W. Baird decreased their price target on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Finally, Barclays decreased their target price on shares of Gartner from $510.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Gartner presently has an average rating of “Hold” and a consensus price target of $515.89.

Insider Activity at Gartner

In other Gartner news, SVP John J. Rinello sold 109 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total value of $47,562.15. Following the transaction, the senior vice president now directly owns 3,280 shares in the company, valued at $1,431,228. This represents a 3.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robin B. Kranich sold 739 shares of the company’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $436.50, for a total transaction of $322,573.50. Following the completion of the transaction, the executive vice president now owns 20,464 shares in the company, valued at $8,932,536. This represents a 3.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,426 shares of company stock worth $2,430,327. Insiders own 2.30% 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.