Do Hedge Funds and Insiders Love Gartner Inc (IT)?
What's a smart Gartner Inc (NYSE:IT) investor to do?
In today’s marketplace, there are plenty of gauges market participants can use to monitor Mr. Market. Two of the best are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the best fund managers can trounce the broader indices by a superb margin (see just how much).
Just as crucial, optimistic insider trading sentiment is a second way to look at the world of equities. There are many motivations for an insider to get rid of shares of his or her company, but only one, very simple reason why they would initiate a purchase. Plenty of empirical studies have demonstrated the impressive potential of this method if shareholders understand where to look (learn more here).
Keeping this in mind, we're going to discuss the newest info about Gartner Inc (NYSE:IT).
What have hedge funds been doing with Gartner Inc (NYSE:IT)?
In preparation for the third quarter, a total of 11 of the hedge funds we track were long in this stock, a change of 83% from the previous quarter. With hedge funds' positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were boosting their stakes considerably.
When using filings from the hedgies we track, Royce & Associates, managed by Chuck Royce, holds the biggest position in Gartner Inc (NYSE:IT). Royce & Associates has a $98.7 million position in the stock, comprising 0.3% of its 13F portfolio. Coming in second is Renaissance Technologies, managed by Jim Simons, which held a $57.8 million position; the fund has 0.2% of its 13F portfolio invested in the stock. Some other hedge funds that are bullish include Andrew Sandler's Sandler Capital Management, Cliff Asness's AQR Capital Management and Israel Englander's Millennium Management.
Now, particular hedge funds were leading the bulls' herd. Royce & Associates, managed by Chuck Royce, initiated the most valuable position in Gartner Inc (NYSE:IT). Royce & Associates had 98.7 million invested in the company at the end of the quarter. Jim Simons's Renaissance Technologies also initiated a $57.8 million position during the quarter. The following funds were also among the new IT investors: Andrew Sandler's Sandler Capital Management, Cliff Asness's AQR Capital Management, and Israel Englander's Millennium Management.
Insider trading activity in Gartner Inc (NYSE:IT)
Insider buying made by high-level executives is most useful when the company we're looking at has seen transactions within the past half-year. Over the latest six-month time frame, Gartner Inc (NYSE:IT) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We'll also review the relationship between both of these indicators in other stocks similar to Gartner Inc (NYSE:IT). These stocks are Xerox Corporation (NYSE:XRX), NCR Corporation (NYSE:NCR), ServiceNow Inc (NYSE:NOW), Computer Sciences Corporation (NYSE:CSC), and Rackspace Hosting, Inc. (NYSE:RAX). All of these stocks are in the information technology services industry and their market caps match IT's market cap.
# of Hedge Funds
# of Insiders Buying
# of Insiders Selling
Xerox Corporation (NYSE:XRX)
NCR Corporation (NYSE:NCR)
ServiceNow Inc (NYSE:NOW)
Computer Sciences Corporation (NYSE:CSC)
Rackspace Hosting, Inc. (NYSE:RAX)
Using the results explained by our studies, regular investors should always track hedge fund and insider trading activity, and Gartner Inc (NYSE:IT) is an important part of this process.