Scout Investments Inc. cut its stake in Gartner, Inc. (NYSE:IT – Get Rating) by 80.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,369 shares of the information technology services provider's stock after selling 84,340 shares during the quarter. Scout Investments Inc.'s holdings in Gartner were worth $4,926,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the stock. IHT Wealth Management LLC purchased a new position in Gartner during the fourth quarter worth about $285,000. Banco Santander S.A. grew its position in Gartner by 5.0% during the first quarter. Banco Santander S.A. now owns 3,598 shares of the information technology services provider's stock worth $1,070,000 after buying an additional 172 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in Gartner by 8.0% during the first quarter. Crossmark Global Holdings Inc. now owns 10,438 shares of the information technology services provider's stock worth $3,105,000 after buying an additional 770 shares in the last quarter. Chevy Chase Trust Holdings Inc. grew its position in Gartner by 0.3% during the first quarter. Chevy Chase Trust Holdings Inc. now owns 49,566 shares of the information technology services provider's stock worth $14,743,000 after buying an additional 124 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC grew its position in Gartner by 2.7% during the first quarter. Baker Tilly Wealth Management LLC now owns 9,928 shares of the information technology services provider's stock worth $2,953,000 after buying an additional 263 shares in the last quarter. 92.20% of the stock is currently owned by hedge funds and other institutional investors.
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Insider Activity
In other Gartner news, EVP Yvonne Genovese sold 645 shares of the company's stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $310.02, for a total transaction of $199,962.90. Following the completion of the transaction, the executive vice president now owns 639 shares of the company's stock, valued at approximately $198,102.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Gartner news, EVP Yvonne Genovese sold 645 shares of the company's stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $310.02, for a total transaction of $199,962.90. Following the completion of the transaction, the executive vice president now owns 639 shares of the company's stock, valued at approximately $198,102.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eugene A. Hall sold 10,425 shares of the company'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 value of $3,067,660.50. Following the transaction, the chief executive officer now directly owns 1,167,041 shares of the company's stock, valued at approximately $343,413,484.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,640 shares of company stock valued at $7,006,015. Insiders own 3.70% of the company's stock.
Gartner Trading Down 1.4 %
NYSE IT opened at $276.06 on Monday. Gartner, Inc. has a 1-year low of $221.39 and a 1-year high of $368.99. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 20.79. The stock has a 50-day moving average of $288.68 and a 200-day moving average of $275.13. The firm has a market cap of $21.83 billion, a PE ratio of 31.12, a price-to-earnings-growth ratio of 2.73 and a beta of 1.40.
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. Gartner had a return on equity of 497.67% and a net margin of 14.42%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the company posted $2.24 EPS. Gartner's revenue for the quarter was up 18.0% on a year-over-year basis. As a group, sell-side analysts forecast that Gartner, Inc. will post 9.08 EPS for the current year.
Analyst Upgrades and Downgrades
Several research firms recently commented on IT. Barclays boosted their target price on Gartner from $265.00 to $315.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 4th. TheStreet raised Gartner from a "c+" rating to a "b-" rating in a research note on Wednesday, August 17th. Wells Fargo & Company lifted their price target on Gartner from $305.00 to $345.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 3rd. BMO Capital Markets dropped their price target on Gartner from $315.00 to $265.00 and set a "market perform" rating for the company in a research note on Tuesday, June 21st. Finally, Robert W. Baird lifted their price target on Gartner from $334.00 to $365.00 in a research note on Wednesday, August 3rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $321.67.
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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