Y Intercept Hong Kong Ltd Acquires New Position in Gartner, Inc. (NYSE:IT)

Y Intercept Hong Kong Ltd acquired a new stake in Gartner, Inc. (NYSE:IT - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,009 shares of the information technology services provider's stock, valued at approximately $2,522,000.

A number of other hedge funds have also added to or reduced their stakes in the company. PFG Advisors increased its stake in Gartner by 38.5% in the first quarter. PFG Advisors now owns 5,052 shares of the information technology services provider's stock valued at $2,121,000 after acquiring an additional 1,404 shares during the last quarter. HighPoint Advisor Group LLC grew its stake in shares of Gartner by 3.6% during the first quarter. HighPoint Advisor Group LLC now owns 1,145 shares of the information technology services provider's stock worth $482,000 after buying an additional 40 shares during the last quarter. GW&K Investment Management LLC grew its stake in shares of Gartner by 210.8% during the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock worth $48,000 after buying an additional 78 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Gartner by 63.6% during the first quarter. Allianz Asset Management GmbH now owns 97,128 shares of the information technology services provider's stock worth $40,769,000 after buying an additional 37,743 shares during the last quarter. Finally, Gallacher Capital Management LLC acquired a new position in shares of Gartner during the first quarter worth $207,000. 91.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP William James Wartinbee III sold 538 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $449.09, for a total value of $241,610.42. Following the completion of the sale, the executive vice president directly owned 7,965 shares of the company's stock, valued at approximately $3,577,001.85. This trade represents a 6.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Akhil Jain sold 625 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $450.00, for a total transaction of $281,250.00. Following the completion of the sale, the executive vice president directly owned 6,548 shares of the company's stock, valued at approximately $2,946,600. This represents a 8.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,426 shares of company stock worth $2,430,327. 3.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IT shares. Wells Fargo & Company dropped their price objective on shares of Gartner from $400.00 to $345.00 and set an "underweight" rating on the stock in a report on Friday, July 18th. UBS Group decreased their target price on shares of Gartner from $500.00 to $480.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. The Goldman Sachs Group decreased their target price on shares of Gartner from $622.00 to $535.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Finally, Barclays decreased their target price on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Gartner currently has a consensus rating of "Hold" and a consensus price target of $507.56.

Gartner Price Performance

Shares of NYSE:IT opened at $356.28 on Wednesday. The company's fifty day moving average price is $409.10 and its 200-day moving average price is $445.57. The firm has a market capitalization of $27.42 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 2.29 and a beta of 1.19. Gartner, Inc. has a one year low of $352.29 and a one year high of $584.01. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.09 and a quick ratio of 1.09.

Gartner (NYSE:IT - Get Free Report) last released its 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. Gartner had a net margin of 19.82% and a return on equity of 96.70%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the firm earned $2.93 EPS. The firm's quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.