Alps Advisors Inc. grew its holdings in Gartner Inc (NYSE:IT) by 51.9% during the 3rd quarter, Holdings Channel reports. The fund owned 3,277 shares of the information technology services provider’s stock after purchasing an additional 1,120 shares during the period. Alps Advisors Inc.’s holdings in Gartner were worth $519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in shares of Gartner by 175.0% in the 2nd quarter. Bank of America Corp DE now owns 1,370,511 shares of the information technology services provider’s stock valued at $182,142,000 after purchasing an additional 872,182 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Gartner by 22.6% in the 1st quarter. Principal Financial Group Inc. now owns 3,589,077 shares of the information technology services provider’s stock valued at $422,148,000 after purchasing an additional 662,107 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Gartner by 11.6% in the 2nd quarter. Janus Henderson Group PLC now owns 5,238,694 shares of the information technology services provider’s stock valued at $696,223,000 after purchasing an additional 543,074 shares during the period. First Trust Advisors LP lifted its stake in shares of Gartner by 223.9% in the 3rd quarter. First Trust Advisors LP now owns 231,500 shares of the information technology services provider’s stock valued at $36,693,000 after purchasing an additional 160,018 shares during the period. Finally, Polen Capital Management LLC lifted its stake in shares of Gartner by 1.7% in the 2nd quarter. Polen Capital Management LLC now owns 5,487,422 shares of the information technology services provider’s stock valued at $729,278,000 after purchasing an additional 93,895 shares during the period.
NYSE:IT opened at $140.85 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.21. The firm has a market cap of $12.90 billion, a price-to-earnings ratio of 42.55, a P/E/G ratio of 2.55 and a beta of 1.23. Gartner Inc has a fifty-two week low of $111.57 and a fifty-two week high of $161.21.
Gartner (NYSE:IT) last posted its quarterly earnings data on Thursday, November 1st. The information technology services provider reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.23. The company had revenue of $922.00 million during the quarter, compared to analysts’ expectations of $919.96 million. Gartner had a net margin of 3.74% and a return on equity of 36.22%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 earnings per share. As a group, equities research analysts predict that Gartner Inc will post 3.72 EPS for the current year.
Several equities analysts recently issued reports on IT shares. Wells Fargo & Co boosted their target price on shares of Gartner from $130.00 to $155.00 and gave the company a “market perform” rating in a research note on Monday, October 1st. Barclays reiterated a “buy” rating and issued a $155.00 target price on shares of Gartner in a research note on Sunday, August 12th. Robert W. Baird boosted their target price on shares of Gartner from $155.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, September 28th. Morgan Stanley set a $144.00 target price on shares of Gartner and gave the company a “hold” rating in a research note on Monday, October 15th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $161.00 target price (up from $147.00) on shares of Gartner in a research note on Friday, August 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Gartner currently has a consensus rating of “Buy” and a consensus price target of $147.00.
In other Gartner news, EVP Alwyn Dawkins sold 566 shares of the company’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $139.69, for a total transaction of $79,064.54. Following the completion of the transaction, the executive vice president now directly owns 30,254 shares in the company, valued at $4,226,181.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mr Thomas Christopher sold 1,400 shares of the company’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $149.81, for a total transaction of $209,734.00. Following the transaction, the executive vice president now owns 18,738 shares of the company’s stock, valued at $2,807,139.78. The disclosure for this sale can be found here. Insiders have sold 51,306 shares of company stock valued at $7,234,867 over the last 90 days. 4.00% of the stock is currently owned by company insiders.
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Gartner Company Profile
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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