Wrapmanager Inc. increased its stake in shares of Gartner Inc (NYSE:IT) by 9.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,444 shares of the information technology services provider’s stock after buying an additional 377 shares during the period. Wrapmanager Inc.’s holdings in Gartner were worth $715,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Advisor Group Inc. lifted its holdings in shares of Gartner by 6.2% during the 2nd quarter. Advisor Group Inc. now owns 4,119 shares of the information technology services provider’s stock worth $663,000 after acquiring an additional 239 shares during the period. Aperio Group LLC increased its position in Gartner by 4.1% during the 2nd quarter. Aperio Group LLC now owns 18,682 shares of the information technology services provider’s stock worth $3,007,000 after purchasing an additional 741 shares in the last quarter. Ibex Wealth Advisors acquired a new position in Gartner during the 2nd quarter worth approximately $40,000. BNP Paribas Arbitrage SA increased its position in Gartner by 85.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,806 shares of the information technology services provider’s stock worth $1,578,000 after purchasing an additional 4,528 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Gartner by 8.2% during the 2nd quarter. First Trust Advisors LP now owns 266,152 shares of the information technology services provider’s stock worth $42,835,000 after purchasing an additional 20,105 shares in the last quarter. 97.98% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Michael Patrick Diliberto sold 700 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $154.00, for a total transaction of $107,800.00. Following the transaction, the executive vice president now directly owns 8,652 shares of the company’s stock, valued at $1,332,408. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robin B. Kranich sold 6,366 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $154.27, for a total transaction of $982,082.82. Following the transaction, the executive vice president now directly owns 10,265 shares in the company, valued at $1,583,581.55. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,010 shares of company stock valued at $2,156,941. Corporate insiders own 4.00% of the company’s stock.
A number of equities analysts recently issued reports on IT shares. Morgan Stanley lowered their price objective on shares of Gartner from $156.00 to $155.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. ValuEngine cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Cantor Fitzgerald upped their price objective on shares of Gartner from $141.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Zacks Investment Research upgraded shares of Gartner from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. Finally, BMO Capital Markets lowered their price objective on shares of Gartner to $142.00 and set a “market perform” rating for the company in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $151.67.
NYSE IT traded down $0.10 on Wednesday, hitting $128.46. The company’s stock had a trading volume of 9,446 shares, compared to its average volume of 482,845. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 0.68. Gartner Inc has a 1-year low of $120.89 and a 1-year high of $171.77. The stock’s 50-day simple moving average is $156.75. The company has a market capitalization of $11.74 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 2.83 and a beta of 1.24.
Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $1.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.27. Gartner had a net margin of 5.43% and a return on equity of 41.29%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company posted $1.03 EPS. The company’s revenue was up 7.0% on a year-over-year basis. As a group, research analysts expect that Gartner Inc will post 3.53 earnings per share for the current fiscal year.
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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