Mackay Shields LLC grew its holdings in Gartner Inc (NYSE:IT) by 9.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,978 shares of the information technology services provider’s stock after purchasing an additional 1,284 shares during the quarter. Mackay Shields LLC’s holdings in Gartner were worth $2,142,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Eukles Asset Management lifted its holdings in Gartner by 2.3% during the 3rd quarter. Eukles Asset Management now owns 3,232 shares of the information technology services provider’s stock worth $462,000 after buying an additional 74 shares during the period. Hartford Investment Management Co. increased its stake in Gartner by 0.8% in the second quarter. Hartford Investment Management Co. now owns 9,773 shares of the information technology services provider’s stock valued at $1,573,000 after acquiring an additional 79 shares during the last quarter. Liberty Capital Management Inc. increased its stake 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 last quarter. State of Michigan Retirement System boosted its position in Gartner by 0.5% during 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 buying an additional 100 shares during the period. Finally, Coastal Investment Advisors Inc. boosted its holdings in shares of Gartner by 2.5% during the third quarter. Coastal Investment Advisors Inc. now owns 4,496 shares of the information technology services provider’s stock worth $637,000 after purchasing an additional 110 shares during the period. 95.43% of the stock is currently owned by institutional investors.
In related news, EVP Alwyn Dawkins sold 771 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $129.52, for a total value of $99,859.92. Following the transaction, the executive vice president now directly owns 34,235 shares of the company’s stock, valued at approximately $4,434,117.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karen E. Dykstra sold 1,500 shares of Gartner stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $160.13, for a total value of $240,195.00. Following the completion of the transaction, the director now directly owns 19,198 shares in the company, valued at $3,074,175.74. The disclosure for this sale can be found here. Insiders have sold 20,913 shares of company stock worth $3,191,184 over the last three months. Corporate insiders own 4.00% of the company’s stock.
A number of brokerages have weighed in on IT. Bank of America raised their target price on shares of Gartner from $150.00 to $172.00 and gave the company a “buy” rating in a research note on Monday, November 4th. ValuEngine upgraded shares of Gartner from a “hold” rating to a “buy” rating in a report on Friday, September 6th. BMO Capital Markets cut their price target on shares of Gartner to $142.00 and set a “market perform” rating on the stock in a report on Wednesday, July 31st. Morgan Stanley lowered their price objective on shares of Gartner from $156.00 to $155.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Finally, TheStreet cut shares of Gartner from a “b” rating to a “c+” rating in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $155.40.
Gartner stock opened at $160.52 on Thursday. The firm has a market capitalization of $14.36 billion, a PE ratio of 42.35, a P/E/G ratio of 3.54 and a beta of 1.23. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 3.08. The firm’s 50-day simple moving average is $147.41 and its 200 day simple moving average is $149.71. Gartner Inc has a 52 week low of $120.89 and a 52 week high of $171.77.
Gartner (NYSE:IT) last issued its quarterly earnings data on Thursday, October 31st. The information technology services provider reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.27. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $992.84 million. Gartner had a net margin of 6.04% and a return on equity of 40.06%. Gartner’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $0.85 earnings per share. On average, research analysts expect that Gartner Inc will post 3.55 EPS for the current fiscal year.
Gartner Profile
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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