Russell Investments Group Ltd. reduced its stake in Gartner, Inc. (NYSE:IT) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 124,362 shares of the information technology services provider’s stock after selling 561 shares during the period. Russell Investments Group Ltd.’s holdings in Gartner were worth $15,360,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its position in Gartner by 5,309.2% in the first quarter. BlackRock Inc. now owns 8,174,829 shares of the information technology services provider’s stock valued at $882,800,000 after buying an additional 8,023,700 shares in the last quarter. Vanguard Group Inc. raised its position in Gartner by 2.6% in the first quarter. Vanguard Group Inc. now owns 6,554,522 shares of the information technology services provider’s stock valued at $707,823,000 after buying an additional 166,250 shares in the last quarter. Polen Capital Management LLC raised its position in Gartner by 8.1% in the first quarter. Polen Capital Management LLC now owns 3,715,050 shares of the information technology services provider’s stock valued at $401,188,000 after buying an additional 279,959 shares in the last quarter. Janus Capital Management LLC raised its position in Gartner by 62.0% in the first quarter. Janus Capital Management LLC now owns 3,555,481 shares of the information technology services provider’s stock valued at $383,956,000 after buying an additional 1,360,165 shares in the last quarter. Finally, State Street Corp raised its position in Gartner by 2.1% in the first quarter. State Street Corp now owns 2,718,707 shares of the information technology services provider’s stock valued at $293,593,000 after buying an additional 56,328 shares in the last quarter. 87.01% of the stock is owned by hedge funds and other institutional investors.
Shares of Gartner, Inc. (NYSE IT) traded down 1.611% during trading on Thursday, reaching $118.165. The company’s stock had a trading volume of 341,212 shares. Gartner, Inc. has a 12-month low of $84.54 and a 12-month high of $130.02. The firm’s 50-day moving average is $125.93 and its 200-day moving average is $113.97. The stock has a market capitalization of $10.71 billion, a PE ratio of 242.639 and a beta of 1.05.
Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, August 8th. The information technology services provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.05. Gartner had a return on equity of 508.22% and a net margin of 1.50%. The company had revenue of $843.73 million during the quarter, compared to analysts’ expectations of $892.64 million. During the same period last year, the business posted $0.75 earnings per share. The firm’s revenue was up 38.3% compared to the same quarter last year. Equities analysts expect that Gartner, Inc. will post $3.44 earnings per share for the current year.
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Several equities analysts have recently issued reports on IT shares. BidaskClub lowered Gartner from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. 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. Morgan Stanley lifted their price target on Gartner from $106.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Monday, May 8th. BMO Capital Markets lifted their price target on Gartner from $110.00 to $128.00 and gave the stock an “outperform” rating in a research report on Monday, May 1st. Finally, Zacks Investment Research lowered Gartner from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Three analysts have rated the stock with a hold rating, six 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 a consensus target price of $126.44.
In other Gartner news, SVP Peter Sondergaard sold 4,172 shares of the stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $111.90, for a total value of $466,846.80. Following the completion of the sale, the senior vice president now directly owns 93,765 shares in the company, valued at $10,492,303.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Karen E. Dykstra sold 2,500 shares of the 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 completion of the sale, the director now owns 18,223 shares of the company’s stock, valued at $2,197,876.03. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,297 shares of company stock valued at $5,793,254. 4.40% of the stock is currently owned by company insiders.
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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