Legal & General Group Plc lessened its position in Gartner Inc (NYSE:IT) by 1.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 428,086 shares of the information technology services provider’s stock after selling 4,223 shares during the quarter. Legal & General Group Plc owned approximately 0.47% of Gartner worth $50,346,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. acquired a new position in shares of Gartner during the 4th quarter worth approximately $145,000. Tower Research Capital LLC TRC increased its position in shares of Gartner by 552.7% during 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 during the last quarter. Allianz Asset Management GmbH acquired a new position in shares of Gartner during the 1st quarter worth approximately $207,000. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Gartner during the 1st quarter worth approximately $210,000. Finally, Rampart Investment Management Company LLC increased its position in shares of Gartner by 44.6% during the 1st quarter. Rampart Investment Management Company LLC now owns 1,808 shares of the information technology services provider’s stock worth $213,000 after purchasing an additional 558 shares during the last quarter. 96.80% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently commented on IT. ValuEngine upgraded Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, May 9th. Zacks Investment Research upgraded Gartner from a “sell” rating to a “hold” rating in a research note on Wednesday, April 11th. Royal Bank of Canada reiterated a “buy” rating and set a $139.00 target price on shares of Gartner in a research note on Monday, April 9th. They noted that the move was a valuation call. Cantor Fitzgerald lifted their target price on Gartner to $148.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 9th. Finally, Wells Fargo & Co set a $130.00 target price on Gartner and gave the stock a “hold” rating in a research note on Wednesday, May 9th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Gartner presently has a consensus rating of “Buy” and a consensus target price of $141.40.
In related news, EVP Robin B. Kranich sold 4,874 shares of the business’s stock in a transaction on Friday, May 11th. The stock was sold at an average price of $134.89, for a total value of $657,453.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Craig Safian sold 3,528 shares of the business’s stock in a transaction on Friday, May 11th. The shares were sold at an average price of $134.61, for a total value of $474,904.08. Following the completion of the sale, the chief financial officer now owns 25,189 shares of the company’s stock, valued at $3,390,691.29. The disclosure for this sale can be found here. Insiders sold a total of 14,352 shares of company stock valued at $1,943,685 over the last 90 days. 4.30% of the stock is currently owned by corporate insiders.
Shares of NYSE IT opened at $133.55 on Friday. The company has a market cap of $11.94 billion, a PE ratio of 38.25, a price-to-earnings-growth ratio of 2.41 and a beta of 1.16. Gartner Inc has a 12 month low of $111.57 and a 12 month high of $142.16. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 2.21.
Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, May 8th. The information technology services provider reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.14. The business had revenue of $964.00 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 54.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS. research analysts expect that Gartner Inc will post 3.74 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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