Teachers Advisors LLC lifted its stake in shares of Gartner, Inc. (NYSE:IT) by 140.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 312,647 shares of the information technology services provider’s stock after purchasing an additional 182,359 shares during the quarter. Teachers Advisors LLC owned about 0.35% of Gartner worth $38,615,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board bought a new position in Gartner in the 1st quarter valued at about $432,000. DekaBank Deutsche Girozentrale lifted its position in Gartner by 119.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 6,128 shares of the information technology services provider’s stock valued at $686,000 after acquiring an additional 3,334 shares in the last quarter. Pictet Asset Management Ltd. lifted its position in Gartner by 1.7% in the 1st quarter. Pictet Asset Management Ltd. now owns 29,300 shares of the information technology services provider’s stock valued at $3,164,000 after acquiring an additional 500 shares in the last quarter. World Asset Management Inc lifted its position in Gartner by 15.7% in the 1st quarter. World Asset Management Inc now owns 5,793 shares of the information technology services provider’s stock valued at $626,000 after acquiring an additional 787 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its position in Gartner by 7.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 315,986 shares of the information technology services provider’s stock valued at $34,123,000 after acquiring an additional 23,069 shares in the last quarter. 91.93% of the stock is currently owned by institutional investors.
Shares of Gartner, Inc. (NYSE:IT) opened at 122.63 on Tuesday. The stock has a market cap of $11.11 billion, a price-to-earnings ratio of 251.81 and a beta of 1.04. The firm has a 50-day moving average of $121.69 and a 200 day moving average of $117.79. Gartner, Inc. has a 1-year low of $84.54 and a 1-year high of $130.02.
Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.83 by $0.05. Gartner had a net margin of 1.50% and a return on equity of 103.10%. The business had revenue of $843.73 million for the quarter, compared to analyst estimates of $892.64 million. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Gartner’s quarterly revenue was up 38.3% on a year-over-year basis. Equities research analysts forecast that Gartner, Inc. will post $3.41 earnings per share for the current year.
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Several equities analysts recently weighed in on IT shares. Zacks Investment Research cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Royal Bank Of Canada reaffirmed a “top pick” rating and issued a $142.00 price target (up previously from $130.00) on shares of Gartner in a research report on Friday, July 21st. Credit Suisse Group reaffirmed an “outperform” rating and issued a $138.00 price target (up previously from $130.00) on shares of Gartner in a research report on Wednesday, August 9th. BidaskClub cut shares of Gartner from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. Finally, TheStreet cut shares of Gartner from a “b” rating to a “c+” rating in a research report on Tuesday, August 8th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $126.56.
In other news, Director Anne Sutherland Fuchs sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $117.02, for a total value of $585,100.00. Following the transaction, the director now owns 29,895 shares in the company, valued at $3,498,312.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Robin B. Kranich sold 7,487 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $120.08, for a total transaction of $899,038.96. Following the completion of the transaction, the senior vice president now owns 21,298 shares in the company, valued at approximately $2,557,463.84. The disclosure for this sale can be found here. Insiders have sold 23,363 shares of company stock worth $2,775,387 in the last three months. 4.40% of the stock is currently 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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