MAI Capital Management decreased its holdings in shares of Gartner, Inc. (NYSE:IT – Free Report) by 8.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,995 shares of the information technology services provider’s stock after selling 271 shares during the period. MAI Capital Management’s holdings in Gartner were worth $976,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Johnson Financial Group Inc. bought a new position in Gartner in the 4th quarter valued at about $25,000. Resurgent Financial Advisors LLC bought a new position in shares of Gartner in the fourth quarter valued at approximately $29,000. Spire Wealth Management boosted its position in shares of Gartner by 4,300.0% during the fourth quarter. Spire Wealth Management now owns 88 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 86 shares during the last quarter. CoreCap Advisors LLC bought a new stake in Gartner during the fourth quarter worth $34,000. Finally, Venturi Wealth Management LLC purchased a new stake in Gartner in the 1st quarter valued at $35,000. 92.41% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on IT. UBS Group initiated coverage on shares of Gartner in a research note on Wednesday, May 31st. They issued a “neutral” rating and a $368.00 target price for the company. BMO Capital Markets decreased their price objective on shares of Gartner from $352.00 to $346.00 in a research note on Thursday, August 3rd. StockNews.com began coverage on Gartner in a report on Saturday. They set a “hold” rating on the stock. Finally, Morgan Stanley boosted their price objective on Gartner from $366.00 to $372.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 2nd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $361.00.
Gartner Price Performance
Shares of NYSE IT opened at $328.15 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 4.18. The stock has a fifty day simple moving average of $348.62 and a two-hundred day simple moving average of $332.81. Gartner, Inc. has a 1-year low of $272.58 and a 1-year high of $377.88. The firm has a market cap of $25.86 billion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 4.52 and a beta of 1.25.
Gartner (NYSE:IT – Get Free Report) last posted its quarterly earnings results on Tuesday, August 1st. The information technology services provider reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.34. Gartner had a return on equity of 310.25% and a net margin of 16.08%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the company earned $2.85 EPS. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. Analysts anticipate that Gartner, Inc. will post 10.06 earnings per share for the current year.
Insider Activity
In other Gartner news, EVP Valentin Sribar sold 420 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $353.80, for a total transaction of $148,596.00. Following the sale, the executive vice president now owns 11,787 shares in the company, valued at $4,170,240.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Alwyn Dawkins sold 887 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $356.78, for a total value of $316,463.86. Following the completion of the transaction, the executive vice president now directly owns 45,914 shares in the company, valued at $16,381,196.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Valentin Sribar sold 420 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $353.80, for a total transaction of $148,596.00. Following the sale, the executive vice president now directly owns 11,787 shares in the company, valued at approximately $4,170,240.60. The disclosure for this sale can be found here. Insiders have sold a total of 16,954 shares of company stock valued at $5,868,804 over the last quarter. Company insiders own 3.90% of the company’s stock.
About Gartner
Gartner, Inc operates as a research and advisory company in the United States, Canada, Europe, the Middle East, Africa, and internationally. It operates through three segments: Research, Conferences, and Consulting. The Research segment delivers its research primarily through a subscription service that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.
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