First Trust Advisors LP decreased its stake in Gartner, Inc. (NYSE:IT) by 14.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 153,495 shares of the information technology services provider’s stock after selling 25,920 shares during the period. First Trust Advisors LP owned 0.17% of Gartner worth $18,958,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Gartner during the second quarter valued at approximately $124,000. Global X Management Co. LLC increased its stake in shares of 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 stake in shares of Gartner during the first quarter valued at approximately $204,000. Creative Planning increased its stake in shares of Gartner by 35.8% in the first quarter. Creative Planning now owns 1,927 shares of the information technology services provider’s stock valued at $208,000 after buying an additional 508 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of 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 valued at $222,000 after buying an additional 145 shares during the last quarter. 87.56% of the stock is currently owned by institutional investors and hedge funds.
Shares of Gartner, Inc. (NYSE IT) opened at 119.51 on Monday. The firm has a 50 day moving average price of $124.87 and a 200 day moving average price of $114.75. Gartner, Inc. has a 1-year low of $84.54 and a 1-year high of $130.02. The firm has a market cap of $10.83 billion, a P/E ratio of 245.40 and a beta of 1.05.
Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.05. The company had revenue of $843.73 million for the quarter, compared to analysts’ expectations of $892.64 million. Gartner had a net margin of 1.50% and a return on equity of 103.10%. The business’s revenue was up 38.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 EPS. Analysts anticipate that Gartner, Inc. will post $3.41 EPS for the current year.
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Several analysts recently commented on IT shares. Zacks Investment Research raised Gartner from a “hold” rating to a “buy” rating and set a $142.00 price objective on the stock in a research note on Wednesday, July 19th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $128.00 price objective on shares of Gartner in a research note on Monday, May 8th. BidaskClub downgraded Gartner from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 9th. TheStreet downgraded Gartner from a “b” rating to a “c+” rating in a research note on Tuesday, August 8th. Finally, Morgan Stanley raised their price objective on Gartner from $106.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Monday, May 8th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Gartner currently has a consensus rating of “Buy” and a consensus target price of $126.89.
In related news, Director Karen E. Dykstra sold 2,500 shares of the company’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $120.61, for a total value of $301,525.00. Following the sale, the director now owns 18,223 shares in the company, valued at approximately $2,197,876.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Alwyn Dawkins sold 1,400 shares of the company’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $116.05, for a total transaction of $162,470.00. Following the completion of the sale, the senior vice president now owns 29,085 shares in the company, valued at approximately $3,375,314.25. The disclosure for this sale can be found here. Insiders have sold a total of 55,001 shares of company stock worth $6,488,945 in the last three months. Insiders own 4.40% of the company’s stock.
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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