State of Wisconsin Investment Board grew its position in shares of Gartner Inc (NYSE:IT) by 0.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 98,989 shares of the information technology services provider’s stock after purchasing an additional 90 shares during the quarter. State of Wisconsin Investment Board’s holdings in Gartner were worth $15,015,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Avestar Capital LLC boosted its stake in Gartner by 1,036.8% during the first quarter. Avestar Capital LLC now owns 216 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 197 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in Gartner during the 1st quarter worth $42,000. Sontag Advisory LLC purchased a new position in Gartner during the 4th quarter worth $47,000. Claybrook Capital LLC acquired a new stake in Gartner during the 4th quarter worth about $51,000. Finally, Smithfield Trust Co. lifted its position in Gartner by 80.9% during the 1st quarter. Smithfield Trust Co. now owns 425 shares of the information technology services provider’s stock worth $64,000 after acquiring an additional 190 shares during the period. 99.03% of the stock is currently owned by institutional investors.
In related news, EVP Mr Thomas Christopher sold 8,259 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $144.14, for a total value of $1,190,452.26. Following the completion of the sale, the executive vice president now owns 19,698 shares in the company, valued at approximately $2,839,269.72. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Robin B. Kranich sold 6,366 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $154.27, for a total transaction of $982,082.82. Following the completion of the transaction, the executive vice president now directly owns 10,265 shares of the company’s stock, valued at $1,583,581.55. The disclosure for this sale can be found here. Insiders sold a total of 21,869 shares of company stock worth $3,294,177 over the last three months. 4.00% of the stock is owned by company insiders.
Several equities research analysts have commented on the company. Zacks Investment Research upgraded Gartner from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. Cantor Fitzgerald lifted their target price on Gartner from $141.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. BMO Capital Markets lifted their price objective on Gartner from $150.00 to $155.00 and gave the company a “market perform” rating in a research note on Wednesday, May 8th. Finally, Morgan Stanley boosted their target price on Gartner from $147.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $148.38.
Shares of NYSE IT traded up $0.19 during mid-day trading on Wednesday, reaching $157.30. The company had a trading volume of 2,477 shares, compared to its average volume of 490,937. The stock has a market capitalization of $14.20 billion, a price-to-earnings ratio of 41.52, a PEG ratio of 2.81 and a beta of 1.27. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 3.34. Gartner Inc has a 1-year low of $120.89 and a 1-year high of $161.85.
Gartner (NYSE:IT) last posted its earnings results on Tuesday, May 7th. The information technology services provider reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.05. The company had revenue of $970.00 million for the quarter, compared to analyst estimates of $960.72 million. Gartner had a return on equity of 37.59% and a net margin of 4.09%. The business’s revenue was up .6% compared to the same quarter last year. During the same period last year, the company earned $0.72 earnings per share. As a group, analysts anticipate that Gartner Inc will post 3.96 earnings per share for the current year.
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Gartner Company 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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