Amalgamated Bank decreased its stake in shares of Gartner, Inc. (NYSE: IT – Get Rating) by 13.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,738 shares of the information technology services provider’s stock after selling 3,141 shares during the period. Amalgamated Bank’s holdings in Gartner were worth $ 6,933,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in IT. EP Wealth Advisors LLC boosted its holdings 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 buying an additional 4,667,607 shares during the period. Wellington Management Group LLP increased its position in Gartner by 13,031.3% during the third quarter. Wellington Management Group LLP now owns 1,635,242 shares of the information technology services provider’s stock worth $ 496,917,000 after acquiring an additional 1,622,789 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Gartner by 78.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 795,910 shares of the information technology services provider’s stock valued at $ 266,089,000 after buying an additional 349,099 shares during the period. Invesco Ltd. increased its holdings in Gartner by 28.1% in the 4th 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 period. Finally, Millennium Management LLC increased its holdings in Gartner by 94.1% in the 4th quarter. Millennium Management LLC now owns 300,312 shares of the information technology services provider’s stock valued at $ 100,400,000 after buying an additional 145,573 shares during the period. 92.05% of the stock is currently owned by institutional investors.
IT stock opened at $ 232.74 on Tuesday. The company has a 50 day simple moving average of $ 272.12 and a 200 day simple moving average of $ 289.14. The stock has a market cap of $ 18.74 billion, a price-to-earnings ratio of 24.58 and a beta of 1.50. Gartner, Inc. has a 1 year low of $ 228.20 and a 1 year high of $ 368.99. The company has a debt-to-equity ratio of 20.79, a current ratio of 0.70 and a quick ratio of 0.70.
Gartner (NYSE: IT – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The information technology services provider reported $ 2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $ 1.89 by $ 0.44. The business had revenue of $ 1.26 billion during the quarter, compared to analysts’ expectations of $ 1.24 billion. Gartner had a net margin of 16.39% and a return on equity of 239.82%. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the company earned $ 2.00 EPS. On average, equities research analysts anticipate that Gartner, Inc. will post 8.14 EPS for the current fiscal year.
Gartner announced that its board has approved a share buyback plan on Tuesday, May 3rd that permits the company to repurchase $ 500.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company board believes its stock is undervalued.
In other news, EVP Jules Kaufman sold 4,541 shares of the company stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $ 271.27, for a total value of $ 1,231,837.07. Following the sale, 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 the SEC website. Also, Director Anne Sutherland Fuchs sold 224 shares of the company stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $ 266.71, for a total transaction of $ 59,743.04. Following the completion of the sale, the director now directly owns 19,455 shares in the company, valued at $ 5,188,843.05. The disclosure for this sale can be found here. Insiders have sold a total of 6,586 shares of company stock worth $ 1,756,421 over the last three months. Insiders own 3.70% of the company stock.
Several research analysts recently issued reports on IT shares. TheStreet downgraded shares of Gartner from a “b” rating to a “c +” rating in a research report on Tuesday, May 3rd. Morgan Stanley lowered their price target on Gartner from $ 316.00 to $ 300.00 and set an “equal weight” rating for the company in a research note on Thursday, May 26th. StockNews.com assumed coverage on Gartner in a research note on Thursday, March 31st. They set a “buy” rating for the company. Finally, Bank of America upgraded shares of Gartner from a “neutral” rating to a “buy” rating and set a $ 340.00 price objective on the stock in a report on Thursday, April 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $ 340.80.
Gartner Company 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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