Fox Run Management L.L.C. Acquires 2,995 Shares of Gartner, Inc. $IT

Key Points

• Fox Run Management L.L.C. increased its stake in Gartner, Inc. by 192.5% in Q1, holding 4,551 shares valued at approximately $1.91 million.
• Gartner reported an EPS of $3.53 for the last quarter, surpassing analyst expectations, with a year-over-year revenue increase of 5.7%.
• Several analysts have recently downgraded their target prices for Gartner, with BMO Capital Markets setting a new target of $272 and Wells Fargo reducing it to $225.

Fox Run Management L.L.C. grew its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 192.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,551 shares of the information technology services provider's stock after purchasing an additional 2,995 shares during the period. Fox Run Management L.L.C.'s holdings in Gartner were worth $1,910,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. DAVENPORT & Co LLC lifted its holdings in shares of Gartner by 11.5% during the first quarter. DAVENPORT & Co LLC now owns 921 shares of the information technology services provider's stock valued at $387,000 after purchasing an additional 95 shares during the last quarter. Three Seasons Wealth LLC purchased a new position in Gartner in the 4th quarter worth approximately $731,000. HighPoint Advisor Group LLC raised its holdings in Gartner by 3.6% in the 1st quarter. HighPoint Advisor Group LLC now owns 1,145 shares of the information technology services provider's stock worth $482,000 after acquiring an additional 40 shares during the last quarter. SG Americas Securities LLC raised its holdings in Gartner by 3.6% in the 1st quarter. SG Americas Securities LLC now owns 42,389 shares of the information technology services provider's stock worth $17,792,000 after acquiring an additional 1,484 shares during the last quarter. Finally, Brighton Jones LLC purchased a new position in Gartner in the 4th quarter worth approximately $309,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Stock Performance

NYSE:IT traded up $0.46 during trading hours on Monday, reaching $239.15. The company had a trading volume of 1,923,837 shares, compared to its average volume of 807,764. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.61. Gartner, Inc. has a 52 week low of $223.65 and a 52 week high of $584.01. The firm has a market cap of $18.41 billion, a price-to-earnings ratio of 14.72 and a beta of 1.19. The firm's 50 day moving average price is $356.35 and its 200-day moving average price is $417.02.

Gartner (NYSE:IT - Get Free Report) last posted its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, topping analysts' consensus estimates of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the firm posted $3.22 EPS. The firm's revenue was up 5.7% on a year-over-year basis. On average, analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IT. Wells Fargo & Company decreased their price objective on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a report on Wednesday, August 6th. BMO Capital Markets decreased their price objective on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a report on Wednesday, August 6th. Morgan Stanley decreased their price objective on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. UBS Group restated a "neutral" rating and issued a $270.00 price objective (down from $480.00) on shares of Gartner in a report on Wednesday, August 6th. Finally, The Goldman Sachs Group decreased their price objective on shares of Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Gartner presently has an average rating of "Hold" and an average target price of $369.25.

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.