Chevy Chase Trust Holdings Inc. purchased a new position in Gartner, Inc. (NYSE:IT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 77,906 shares of the information technology services provider’s stock, valued at approximately $9,622,000. Chevy Chase Trust Holdings Inc. owned about 0.09% of Gartner as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Global X Management Co. LLC increased its position in Gartner by 31.6% in the first quarter. Global X Management Co. LLC now owns 1,725 shares of the information technology services provider’s stock valued at $186,000 after buying an additional 414 shares during the last quarter. 1st Global Advisors Inc. acquired a new position in Gartner during the first quarter worth $204,000. Creative Planning raised its position in Gartner by 35.8% in the first quarter. Creative Planning now owns 1,927 shares of the information technology services provider’s stock worth $208,000 after buying an additional 508 shares during the period. Raymond James Trust N.A. acquired a new position in Gartner during the first quarter worth $208,000. Finally, Mn Services Vermogensbeheer B.V. raised its position in Gartner by 7.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,203 shares of the information technology services provider’s stock worth $222,000 after buying an additional 145 shares during the period. 87.07% of the stock is currently owned by institutional investors and hedge funds.
Gartner, Inc. (IT) opened at 128.85 on Thursday. The firm has a market cap of $11.65 billion, a PE ratio of 58.57 and a beta of 1.05. The stock has a 50 day moving average of $123.34 and a 200 day moving average of $111.07. Gartner, Inc. has a 52 week low of $84.54 and a 52 week high of $128.90.
Gartner (NYSE:IT) last announced its quarterly earnings results on Thursday, May 4th. The information technology services provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by $0.01. Gartner had a net margin of 7.22% and a return on equity of 954.04%. The business had revenue of $625.17 million for the quarter, compared to analyst estimates of $612.84 million. During the same period in the prior year, the business earned $0.67 EPS. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. Analysts anticipate that Gartner, Inc. will post $3.48 EPS for the current year.
A number of analysts have recently issued reports on IT shares. Zacks Investment Research upgraded shares of Gartner from a “hold” rating to a “buy” rating and set a $142.00 price target for the company in a report on Wednesday. Royal Bank Of Canada reiterated a “top pick” rating and issued a $130.00 target price (up previously from $124.00) on shares of Gartner in a report on Monday, May 1st. BMO Capital Markets lifted their target price on shares of Gartner from $110.00 to $128.00 and gave the company an “outperform” rating in a report on Monday, May 1st. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $115.00 target price on shares of Gartner in a report on Tuesday, April 25th. Finally, Morgan Stanley raised their price target on shares of Gartner from $106.00 to $112.00 and gave the company an “equal weight” rating in a research report on Monday, May 8th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Gartner currently has a consensus rating of “Buy” and a consensus target price of $119.73.
In other news, SVP Alwyn Dawkins sold 1,400 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $116.05, for a total value of $162,470.00. Following the transaction, the senior vice president now directly owns 29,085 shares in the company, valued at approximately $3,375,314.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Karen E. Dykstra sold 2,500 shares of the firm’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $120.61, for a total value of $301,525.00. Following the completion of the transaction, the director now owns 18,223 shares in the company, valued at $2,197,876.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,297 shares of company stock worth $5,793,254. 4.40% of the stock is owned by insiders.
Gartner Company Profile
Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.
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