HighTower Trust Services LTA boosted its position in Gartner, Inc. (NYSE:IT – Get Rating) by 0.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,728 shares of the information technology services provider’s stock after buying an additional 52 shares during the quarter. HighTower Trust Services LTA’s holdings in Gartner were worth $2,001,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. IHT Wealth Management LLC acquired a new stake in shares of Gartner in the 4th quarter valued at about $285,000. Unigestion Holding SA bought a new stake in shares of Gartner during the 4th quarter valued at about $886,000. ProShare Advisors LLC grew its position in shares of Gartner by 23.9% during the 4th quarter. ProShare Advisors LLC now owns 27,187 shares of the information technology services provider’s stock valued at $9,089,000 after buying an additional 5,238 shares during the last quarter. Xponance Inc. grew its position in shares of Gartner by 0.8% during the 1st quarter. Xponance Inc. now owns 13,542 shares of the information technology services provider’s stock valued at $4,028,000 after buying an additional 104 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Gartner by 5.9% during the 4th quarter. American Century Companies Inc. now owns 115,793 shares of the information technology services provider’s stock valued at $38,712,000 after buying an additional 6,467 shares during the last quarter. Hedge funds and other institutional investors own 92.05% of the company’s stock.
Shares of IT opened at $244.28 on Friday. The company has a debt-to-equity ratio of 20.79, a quick ratio of 0.70 and a current ratio of 0.70. Gartner, Inc. has a twelve month low of $221.39 and a twelve month high of $368.99. The firm’s 50 day moving average price is $255.30 and its two hundred day moving average price is $281.66. The firm has a market cap of $19.67 billion, a P/E ratio of 25.80 and a beta of 1.47.
Gartner (NYSE: IT – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The information technology services provider reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.44. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. Gartner had a net margin of 16.39% and a return on equity of 239.82%. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.00 earnings per share. On average, sell-side analysts anticipate that Gartner, Inc. will post 8.14 earnings per share for the current fiscal year.
Gartner declared that its board has approved a stock buyback plan on Tuesday, May 3rd that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
In related news, Director Anne Sutherland Fuchs sold 224 shares of the business’s 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 transaction, the director now directly owns 19,455 shares in the company, valued at $5,188,843.05. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Robin B. Kranich sold 1,321 shares of the business’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $256.95, for a total transaction of $339,430.95. Following the transaction, the executive vice president now owns 9,717 shares in the company, valued at $2,496,783.15. The disclosure for this sale can be found here. In the last three months, insiders sold 6,586 shares of company stock worth $1,756,421. 3.70% of the stock is currently owned by insiders.
IT has been the subject of a number of recent research reports. BMO Capital Markets lowered their price objective on shares of Gartner from $315.00 to $265.00 and set a “market perform” rating for the company in a research report on Tuesday, June 21st. Morgan Stanley reduced their price target on shares of Gartner from $316.00 to $300.00 and set an “equal weight” rating for the company in a research report on Thursday, May 26th. TheStreet lowered shares of Gartner from a “b” rating to a “c+” rating in a research note on Tuesday, May 3rd. StockNews.com began coverage on shares of Gartner in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Finally, Barclays lowered their target price on shares of Gartner from $325.00 to $265.00 and set an “equal weight” rating on the stock in a research note on Friday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Gartner currently has a consensus rating of “Moderate Buy” and an average target price of $309.00.
About Gartner: (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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