UNIVEST FINANCIAL Corp Makes New $350,000 Investment in Gartner, Inc. (NYSE:IT)

UNIVEST FINANCIAL Corp bought a new stake in Gartner, Inc. (NYSE:IT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 780 shares of the information technology services provider’s stock, valued at approximately $350,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Gilbert & Cook Inc. grew its holdings in Gartner by 10.6% during the fourth quarter. Gilbert & Cook Inc. now owns 1,430 shares of the information technology services provider’s stock worth $645,000 after acquiring an additional 137 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in shares of Gartner by 27.9% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 197 shares of the information technology services provider’s stock worth $88,000 after purchasing an additional 43 shares during the period. Private Advisor Group LLC grew its stake in shares of Gartner by 62.3% during the 4th quarter. Private Advisor Group LLC now owns 1,073 shares of the information technology services provider’s stock worth $484,000 after purchasing an additional 412 shares during the period. Apollon Wealth Management LLC increased its holdings in shares of Gartner by 25.7% in the 4th quarter. Apollon Wealth Management LLC now owns 1,101 shares of the information technology services provider’s stock valued at $497,000 after purchasing an additional 225 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Gartner in the fourth quarter valued at about $707,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Stock Performance

Gartner stock opened at $483.69 on Friday. Gartner, Inc. has a fifty-two week low of $323.61 and a fifty-two week high of $509.15. The company has a market capitalization of $37.55 billion, a price-to-earnings ratio of 48.13, a PEG ratio of 3.83 and a beta of 1.33. The stock has a fifty day moving average of $471.55 and a two-hundred day moving average of $458.93. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.85 EPS. On average, analysts anticipate that Gartner, Inc. will post 11.59 EPS for the current fiscal year.

Insider Activity

In other Gartner news, EVP Alwyn Dawkins sold 1,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $505.49, for a total value of $505,490.00. Following the completion of the transaction, the executive vice president now directly owns 56,650 shares in the company, valued at approximately $28,636,008.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Alwyn Dawkins sold 1,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total transaction of $505,490.00. Following the transaction, the executive vice president now directly owns 56,650 shares in the company, valued at approximately $28,636,008.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Eugene A. Hall sold 12,082 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $504.84, for a total transaction of $6,099,476.88. Following the transaction, the chief executive officer now directly owns 1,143,389 shares of the company’s stock, valued at approximately $577,228,502.76. The disclosure for this sale can be found here. Insiders sold a total of 27,998 shares of company stock valued at $13,834,898 over the last 90 days. Insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on IT shares. UBS Group upped their target price on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Bank of America raised their price objective on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Robert W. Baird lifted their price objective on Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Morgan Stanley lifted their price target on Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Gartner has an average rating of “Hold” and an average price target of $521.00.

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.