Mackay Shields LLC decreased its holdings in shares of Gartner Inc (NYSE:IT) by 6.9% in the 4th quarter, Holdings Channel reports. The fund owned 13,483 shares of the information technology services provider’s stock after selling 1,002 shares during the quarter. Mackay Shields LLC’s holdings in Gartner were worth $1,724,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of IT. Lunia Capital LP raised its position in shares of Gartner by 19,665.1% during the 4th quarter. Lunia Capital LP now owns 16,641,445 shares of the information technology services provider’s stock valued at $16,641,000 after acquiring an additional 16,557,249 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Gartner by 5.6% in the 4th quarter. BlackRock Inc. now owns 6,264,009 shares of the information technology services provider’s stock valued at $800,789,000 after buying an additional 331,238 shares during the period. Morgan Stanley grew its holdings in shares of Gartner by 343.2% in the 3rd quarter. Morgan Stanley now owns 373,397 shares of the information technology services provider’s stock valued at $59,183,000 after buying an additional 289,143 shares during the period. Federated Investors Inc. PA grew its holdings in shares of Gartner by 22,249.7% in the 3rd quarter. Federated Investors Inc. PA now owns 256,575 shares of the information technology services provider’s stock valued at $40,667,000 after buying an additional 255,427 shares during the period. Finally, KAMES CAPITAL plc acquired a new position in shares of Gartner in the 4th quarter valued at $26,003,000. Institutional investors own 99.16% of the company’s stock.
Several equities analysts have recently issued reports on the stock. TheStreet raised shares of Gartner from a “c+” rating to a “b” rating in a report on Tuesday, February 5th. Bank of America reissued a “buy” rating and issued a $150.00 price target on shares of Gartner in a report on Wednesday, February 6th. Cantor Fitzgerald lowered shares of Gartner from an “overweight” rating to a “neutral” rating in a report on Wednesday, February 6th. BMO Capital Markets lowered shares of Gartner from an “outperform” rating to a “market perform” rating and set a $139.30 price target for the company. in a report on Wednesday, February 6th. Finally, Morgan Stanley decreased their price target on shares of Gartner from $144.00 to $134.00 and set an “equal weight” rating for the company in a report on Tuesday, January 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Gartner presently has a consensus rating of “Hold” and a consensus target price of $142.81.
Shares of IT stock opened at $145.91 on Monday. Gartner Inc has a 12-month low of $114.40 and a 12-month high of $161.21. The firm has a market capitalization of $13.09 billion, a PE ratio of 38.50, a PEG ratio of 2.54 and a beta of 1.31. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.69 and a quick ratio of 0.69.
Gartner (NYSE:IT) last announced its earnings results on Tuesday, February 5th. The information technology services provider reported $1.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.25 by ($0.05). The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.10 billion. Gartner had a return on equity of 37.74% and a net margin of 3.08%. Gartner’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.17 earnings per share. Equities analysts expect that Gartner Inc will post 3.97 EPS for the current fiscal year.
In related news, CFO Craig Safian sold 3,635 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $140.64, for a total value of $511,226.40. Following the completion of the transaction, the chief financial officer now directly owns 33,008 shares of the company’s stock, valued at approximately $4,642,245.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Alwyn Dawkins sold 1,909 shares of the company’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $142.01, for a total transaction of $271,097.09. Following the completion of the transaction, the executive vice president now directly owns 35,822 shares of the company’s stock, valued at $5,087,082.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,234 shares of company stock valued at $16,211,414. Company insiders own 4.00% of the company’s stock.
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Gartner Company Profile
Gartner, Inc operates as a research and advisory company. It operates through three segments: Research, Conferences, and Consulting. 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 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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