Cambridge Investment Research Advisors Inc. raised its stake in Gartner, Inc. (NYSE:IT – Free Report) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,599 shares of the information technology services provider’s stock after purchasing an additional 71 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Gartner were worth $910,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Johnson Financial Group Inc. purchased a new stake in shares of Gartner during the fourth quarter valued at approximately $25,000. Resurgent Financial Advisors LLC purchased a new stake in shares of Gartner during the fourth quarter valued at approximately $29,000. Venturi Wealth Management LLC purchased a new stake in shares of Gartner during the first quarter valued at approximately $35,000. OLD Mission Capital LLC purchased a new stake in shares of Gartner during the fourth quarter valued at approximately $38,000. Finally, Cullen Frost Bankers Inc. increased its position in shares of Gartner by 268.8% during the first quarter. Cullen Frost Bankers Inc. now owns 118 shares of the information technology services provider’s stock valued at $38,000 after acquiring an additional 86 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, EVP Robin B. Kranich sold 716 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $349.78, for a total value of $250,442.48. Following the sale, the executive vice president now owns 13,230 shares in the company, valued at $4,627,589.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Gartner news, EVP Robin B. Kranich sold 716 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $349.78, for a total transaction of $250,442.48. Following the sale, the executive vice president now owns 13,230 shares in the company, valued at $4,627,589.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Patrick Diliberto sold 7,938 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $335.09, for a total value of $2,659,944.42. Following the sale, the executive vice president now owns 18,501 shares in the company, valued at approximately $6,199,500.09. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,654 shares of company stock worth $6,431,987. Corporate insiders own 3.90% of the company’s stock.
Gartner Price Performance
Gartner (NYSE:IT – Get Free Report) last posted its quarterly earnings results on Tuesday, August 1st. The information technology services provider reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.34. Gartner had a return on equity of 310.25% and a net margin of 16.08%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company earned $2.85 earnings per share. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, equities research analysts forecast that Gartner, Inc. will post 10.06 EPS for the current year.
Analysts Set New Price Targets
Several equities analysts have weighed in on IT shares. BMO Capital Markets reduced their price objective on Gartner from $352.00 to $346.00 in a report on Thursday, August 3rd. Morgan Stanley increased their price objective on Gartner from $366.00 to $372.00 and gave the company an “equal weight” rating in a report on Wednesday, August 2nd. Finally, StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Friday, September 29th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $361.00.
Check Out Our Latest Analysis on IT
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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