Gateway Investment Advisers LLC cut its holdings in Gartner Inc (NYSE:IT) by 11.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,824 shares of the information technology services provider’s stock after selling 508 shares during the period. Gateway Investment Advisers LLC’s holdings in Gartner were worth $489,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC boosted its stake in shares of Gartner by 22.8% during the 2nd quarter. FMR LLC now owns 450,684 shares of the information technology services provider’s stock worth $59,896,000 after acquiring an additional 83,596 shares in the last quarter. Federated Investors Inc. PA purchased a new stake in shares of Gartner during the 2nd quarter worth approximately $153,000. Renaissance Technologies LLC purchased a new stake in shares of Gartner during the 2nd quarter worth approximately $201,000. Millennium Management LLC boosted its stake in shares of Gartner by 131.9% during the 2nd quarter. Millennium Management LLC now owns 22,526 shares of the information technology services provider’s stock worth $2,994,000 after acquiring an additional 12,812 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of Gartner by 1,662.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 23,920 shares of the information technology services provider’s stock worth $167,000 after acquiring an additional 22,563 shares in the last quarter.
Gartner stock traded up $0.10 during trading on Wednesday, reaching $141.49. 483,164 shares of the company’s stock were exchanged, compared to its average volume of 771,069. The company has a current ratio of 0.69, a quick ratio of 0.66 and a debt-to-equity ratio of 2.49. The stock has a market cap of $12.65 billion, a price-to-earnings ratio of 37.33, a price-to-earnings-growth ratio of 2.41 and a beta of 1.27. Gartner Inc has a 52-week low of $111.57 and a 52-week high of $161.21.
Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, February 5th. The information technology services provider reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Gartner had a net margin of 3.08% and a return on equity of 37.74%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.17 earnings per share. Analysts forecast that Gartner Inc will post 3.97 earnings per share for the current year.
In other news, EVP Alwyn Dawkins sold 1,378 shares of the stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $147.20, for a total transaction of $202,841.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robin B. Kranich sold 1,763 shares of the stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $147.55, for a total transaction of $260,130.65. Following the transaction, the executive vice president now directly owns 27,819 shares in the company, valued at approximately $4,104,693.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,226 shares of company stock valued at $1,070,818. 4.00% of the stock is currently owned by corporate insiders.
Several brokerages have recently commented on IT. Robert W. Baird reissued a “buy” rating and set a $156.00 price target on shares of Gartner in a research note on Wednesday, February 6th. Cantor Fitzgerald lowered Gartner from an “overweight” rating to a “neutral” rating in a research note on Wednesday, February 6th. Bank of America reaffirmed a “buy” rating and issued a $150.00 target price on shares of Gartner in a research note on Wednesday, February 6th. BMO Capital Markets lowered Gartner from an “outperform” rating to a “market perform” rating and set a $139.30 target price on the stock. in a research note on Wednesday, February 6th. Finally, TheStreet raised Gartner from a “c+” rating to a “b” rating in a research note on Tuesday, February 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $143.59.
Gartner Company Profile
Gartner, Inc operates as a research and advisory company. It operates through four segments: Research, Consulting, Events, and Talent Assessment & Other. The Research segment offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through research and other reports, briefings, proprietary tools, access to our analysts, peer networking services, and membership programs that enable clients to make better decisions; and practice and talent management research insights in various business functions, such as human resources, sales, legal, and finance.
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