Janney Montgomery Scott LLC purchased a new position in Gartner Inc (NYSE:IT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,187 shares of the information technology services provider’s stock, valued at approximately $885,000.
Several other institutional investors have also added to or reduced their stakes in the company. Hartford Investment Management Co. increased its stake in shares of Gartner by 0.8% during the second quarter. Hartford Investment Management Co. now owns 9,773 shares of the information technology services provider’s stock worth $1,573,000 after buying an additional 79 shares during the period. Liberty Capital Management Inc. lifted its holdings in Gartner by 0.3% in the third quarter. Liberty Capital Management Inc. now owns 25,188 shares of the information technology services provider’s stock valued at $3,602,000 after acquiring an additional 87 shares during the period. State of Michigan Retirement System lifted its holdings in Gartner by 0.5% in the third quarter. State of Michigan Retirement System now owns 21,699 shares of the information technology services provider’s stock valued at $3,103,000 after acquiring an additional 100 shares during the period. Coastal Investment Advisors Inc. lifted its holdings in Gartner by 2.5% in the third quarter. Coastal Investment Advisors Inc. now owns 4,496 shares of the information technology services provider’s stock valued at $637,000 after acquiring an additional 110 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its holdings in Gartner by 7.1% in the second quarter. Steward Partners Investment Advisory LLC now owns 1,707 shares of the information technology services provider’s stock valued at $274,000 after acquiring an additional 113 shares during the period. 92.17% of the stock is owned by institutional investors and hedge funds.
IT stock traded up $0.56 during mid-day trading on Monday, hitting $160.50. The stock had a trading volume of 23,665 shares, compared to its average volume of 555,499. The stock has a market capitalization of $14.18 billion, a price-to-earnings ratio of 42.35, a PEG ratio of 3.50 and a beta of 1.23. The company has a fifty day moving average of $148.07 and a 200 day moving average of $149.71. Gartner Inc has a 1-year low of $120.89 and a 1-year high of $171.77. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 3.08.
Gartner (NYSE:IT) last released its quarterly earnings results on Thursday, October 31st. The information technology services provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.27. Gartner had a return on equity of 40.06% and a net margin of 6.04%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $992.84 million. During the same quarter in the prior year, the company posted $0.85 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts expect that Gartner Inc will post 3.55 earnings per share for the current fiscal year.
In other Gartner news, EVP Alwyn Dawkins sold 771 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $129.52, for a total transaction of $99,859.92. Following the completion of the sale, the executive vice president now directly owns 34,235 shares of the company’s stock, valued at $4,434,117.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Eugene A. Hall sold 35,020 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $160.17, for a total transaction of $5,609,153.40. Following the sale, the chief executive officer now directly owns 1,269,635 shares of the company’s stock, valued at $203,357,437.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,933 shares of company stock worth $8,800,338. 4.00% of the stock is owned by corporate insiders.
IT has been the subject of a number of recent analyst reports. TheStreet downgraded Gartner from a “b” rating to a “c+” rating in a report on Thursday, October 31st. Morgan Stanley dropped their price target on Gartner from $156.00 to $155.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Bank of America lifted their price objective on Gartner from $150.00 to $172.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. ValuEngine upgraded Gartner from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Finally, BMO Capital Markets reduced their price objective on Gartner to $142.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Gartner has a consensus rating of “Hold” and an average price target of $155.40.
About Gartner
Gartner, Inc operates as a research and advisory company. It operates through three segments: Research, Conferences, and Consulting. 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 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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