Verition Fund Management LLC purchased a new stake in shares of Gartner, Inc. (NYSE:IT – Get Rating) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,005 shares of the information technology services provider's stock, valued at approximately $299,000.
Several other hedge funds have also modified their holdings of IT. CVA Family Office LLC boosted its stake in Gartner by 25.0% in the first quarter. CVA Family Office LLC now owns 175 shares of the information technology services provider's stock valued at $52,000 after acquiring an additional 35 shares during the last quarter. Allworth Financial LP boosted its stake in Gartner by 39.3% in the first quarter. Allworth Financial LP now owns 124 shares of the information technology services provider's stock valued at $37,000 after acquiring an additional 35 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Gartner by 0.8% in the first quarter. Daiwa Securities Group Inc. now owns 5,000 shares of the information technology services provider's stock worth $1,487,000 after purchasing an additional 38 shares during the period. Veriti Management LLC raised its holdings in Gartner by 1.7% in the first quarter. Veriti Management LLC now owns 2,371 shares of the information technology services provider's stock worth $705,000 after purchasing an additional 39 shares during the period. Finally, Fieldpoint Private Securities LLC raised its holdings in Gartner by 6.2% in the first quarter. Fieldpoint Private Securities LLC now owns 724 shares of the information technology services provider's stock worth $215,000 after purchasing an additional 42 shares during the period. 92.20% of the stock is owned by institutional investors.
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Analysts Set New Price Targets
Several research firms have weighed in on IT. Robert W. Baird increased their target price on shares of Gartner from $334.00 to $365.00 in a report on Wednesday, August 3rd. TheStreet upgraded shares of Gartner from a "c+" rating to a "b-" rating in a report on Wednesday, August 17th. Morgan Stanley increased their target price on shares of Gartner from $274.00 to $300.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 3rd. Barclays raised their price objective on shares of Gartner from $265.00 to $315.00 and gave the stock an "equal weight" rating in a report on Thursday, August 4th. Finally, Wells Fargo & Company raised their price objective on shares of Gartner from $305.00 to $345.00 and gave the stock an "overweight" rating in a report on Wednesday, August 3rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $321.67.
Insider Activity
In other news, CEO Eugene A. Hall sold 10,425 shares of Gartner stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $294.26, for a total value of $3,067,660.50. Following the completion of the transaction, the chief executive officer now owns 1,167,041 shares of the company's stock, valued at approximately $343,413,484.66. The sale was disclosed in a legal filing with the SEC, which is accessible through
this hyperlink. In other Gartner news, EVP Yvonne Genovese sold 645 shares of Gartner stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $310.02, for a total value of $199,962.90. Following the completion of the sale, the executive vice president now owns 639 shares in the company, valued at approximately $198,102.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through
the SEC website. Also, CEO Eugene A. Hall sold 10,425 shares of the business's stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $294.26, for a total transaction of $3,067,660.50. Following the completion of the transaction, the chief executive officer now owns 1,167,041 shares of the company's stock, valued at $343,413,484.66. The disclosure for this sale can be found
here. Insiders sold a total of 23,640 shares of company stock valued at $7,006,015 in the last quarter. Company insiders own 3.70% of the company's stock.
Gartner Stock Down 1.4 %
Gartner stock opened at $276.06 on Monday. The company has a market cap of $21.83 billion, a P/E ratio of 31.12, a price-to-earnings-growth ratio of 2.73 and a beta of 1.40. Gartner, Inc. has a 1-year low of $221.39 and a 1-year high of $368.99. The company has a fifty day simple moving average of $288.68 and a 200 day simple moving average of $275.13. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 20.79.
Gartner (NYSE:IT – Get Rating) last released its earnings results on Tuesday, August 2nd. The information technology services provider reported $2.85 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.70. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.32 billion. Gartner had a net margin of 14.42% and a return on equity of 497.67%. The firm's revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.24 earnings per share. Research analysts anticipate that Gartner, Inc. will post 9.08 earnings per share for the current fiscal year.
Gartner Profile
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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.
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