MetLife Investment Management LLC trimmed its stake in shares of Gartner, Inc. (NYSE: IT – Get Rating) by 3.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,171 shares of the information technology services provider’s stock after selling 722 shares during the period. MetLife Investment Management LLC’s holdings in Gartner were worth $ 6,075,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. EP Wealth Advisors LLC boosted its stake in shares of Gartner by 371,624.8% in the third quarter. EP Wealth Advisors LLC now owns 4,668,863 shares of the information technology services provider’s stock worth $ 366,000 after acquiring an additional 4,667,607 shares during the last quarter. Wellington Management Group LLP boosted its stake in Gartner by 13,031.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,635,242 shares of the information technology services provider’s stock worth $ 496,917,000 after purchasing an additional 1,622,789 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Gartner by 78.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 795,910 shares of the information technology services provider’s stock worth $ 266,089,000 after buying an additional 349,099 shares in the last quarter. Invesco Ltd. raised its position in shares of Gartner by 28.1% in the fourth quarter. Invesco Ltd. now owns 1,223,433 shares of the information technology services provider’s stock valued at $ 409,018,000 after buying an additional 268,338 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Gartner by 94.1% in the fourth quarter. Millennium Management LLC now owns 300,312 shares of the information technology services provider’s stock worth $ 100,400,000 after buying an additional 145,573 shares in the last quarter. Institutional investors and hedge funds own 92.05% of the company stock.
IT stock opened at $ 232.74 on Tuesday. The business’s fifty day moving average price is $ 272.12 and its 200 day moving average price is $ 289.14. Gartner, Inc. has a 12-month low of $ 228.20 and a 12-month high of $ 368.99. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 20.79. The company has a market capitalization of $ 18.74 billion, a PE ratio of 24.58 and a beta of 1.50.
Gartner (NYSE: IT – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The information technology services provider reported $ 2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $ 1.89 by $ 0.44. Gartner had a net margin of 16.39% and a return on equity of 239.82%. The firm had revenue of $ 1.26 billion during the quarter, compared to analysts’ expectations of $ 1.24 billion. During the same quarter in the previous year, the business posted $ 2.00 earnings per share. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. Research analysts predict that Gartner, Inc. will post 8.14 EPS for the current fiscal year.
Gartner announced that its board has authorized a stock buyback plan on Tuesday, May 3rd that permits the company to repurchase $ 500.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company management believes its shares are undervalued.
IT has been the subject of several analyst reports. StockNews.com began coverage on Gartner in a report on Thursday, March 31st. They issued a “buy” rating for the company. Bank of America raised shares of Gartner from a “neutral” rating to a “buy” rating and set a $ 340.00 objective price for the company in a report on Thursday, April 14th. Morgan Stanley reduced their target price on shares of Gartner from $ 316.00 to $ 300.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 26th. Finally, TheStreet cut shares of Gartner from a “b” rating to a “c +” rating in a research note on Tuesday, May 3rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Gartner has an average rating of “Buy” and an average target price of $ 340.80.
In other news, EVP Jules Kaufman sold 4,541 shares of the company stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $ 271.27, for a total transaction of $ 1,231,837.07. Following the completion of the transaction, the executive vice president now directly owns 4,641 shares of the company stock, valued at approximately $ 1,258,964.07. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Eileen Serra bought 700 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The shares were acquired at an average price of $ 251.99 per share, with a total value of $ 176,393.00. Following the purchase, the director now owns 700 shares of the company stock, valued at $ 176,393. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 6,586 shares of company stock worth $ 1,756,421. 3.70% of the stock is owned by corporate insiders.
Gartner Profile: (Get Rating)
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 includes on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.
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