State of Wisconsin Investment Board grew its stake in Gartner Inc (NYSE:IT) by 76.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,636 shares of the information technology services provider’s stock after purchasing an additional 44,134 shares during the period. State of Wisconsin Investment Board owned about 0.11% of Gartner worth $11,954,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. purchased a new stake in Gartner in the 4th quarter worth approximately $145,000. Tower Research Capital LLC TRC boosted its position in Gartner by 552.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,475 shares of the information technology services provider’s stock worth $182,000 after purchasing an additional 1,249 shares in the last quarter. Advisory Services Network LLC boosted its position in Gartner by 533.2% in the 4th quarter. Advisory Services Network LLC now owns 1,507 shares of the information technology services provider’s stock worth $186,000 after purchasing an additional 1,269 shares in the last quarter. Lourd Capital LLC purchased a new stake in Gartner in the 4th quarter worth approximately $204,000. Finally, Commerzbank Aktiengesellschaft FI purchased a new stake in Gartner in the 1st quarter worth approximately $219,000. Institutional investors and hedge funds own 96.79% of the company’s stock.
In other Gartner news, EVP Robin B. Kranich sold 5,713 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $116.15, for a total value of $663,564.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eugene A. Hall sold 49,687 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $116.39, for a total value of $5,783,069.93. The disclosure for this sale can be found here. Insiders sold a total of 93,757 shares of company stock worth $11,154,003 in the last 90 days. 4.00% of the stock is currently owned by insiders.
Several research firms have commented on IT. Zacks Investment Research upgraded Gartner from a “sell” rating to a “hold” rating in a research report on Monday, May 14th. BMO Capital Markets increased their target price on Gartner from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, May 9th. Cantor Fitzgerald increased their target price on Gartner to $148.00 and gave the company an “overweight” rating in a research report on Wednesday, May 9th. TheStreet lowered Gartner from a “b-” rating to a “c” rating in a research report on Tuesday, May 8th. Finally, ValuEngine upgraded Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, May 9th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $141.40.
Shares of Gartner opened at $134.23 on Monday, Marketbeat.com reports. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market capitalization of $12.25 billion, a price-to-earnings ratio of 39.25, a PEG ratio of 2.31 and a beta of 1.13. Gartner Inc has a fifty-two week low of $111.57 and a fifty-two week high of $142.16.
Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, May 8th. The information technology services provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $964.00 million for the quarter, compared to analyst estimates of $921.22 million. Gartner had a positive return on equity of 33.99% and a negative net margin of 1.45%. The firm’s revenue for the quarter was up 54.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 EPS. sell-side analysts expect that Gartner Inc will post 3.75 EPS for the current year.
Gartner, Inc operates as a research and advisory company. It operates through four segments: Research, Consulting, Events, and Talent Assessment & Other. 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 our 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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