Kornitzer Capital Management Inc. KS Has $13.61 Million Position in Gartner, Inc. (NYSE:IT)

Kornitzer Capital Management Inc. KS decreased its position in shares of Gartner, Inc. (NYSE:IT - Free Report) by 6.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,421 shares of the information technology services provider's stock after selling 2,241 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Gartner were worth $13,608,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of IT. Cary Street Partners Financial LLC acquired a new position in shares of Gartner during the 4th quarter worth about $27,000. Itau Unibanco Holding S.A. increased its position in Gartner by 453.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock worth $40,000 after buying an additional 68 shares during the period. Olde Wealth Management LLC acquired a new position in shares of Gartner during the first quarter worth approximately $42,000. Wayfinding Financial LLC bought a new stake in shares of Gartner in the first quarter valued at approximately $55,000. Finally, Bartlett & CO. Wealth Management LLC boosted its position in shares of Gartner by 57.5% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 167 shares of the information technology services provider's stock valued at $70,000 after acquiring an additional 61 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Barclays dropped their target price on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Wall Street Zen downgraded shares of Gartner from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Wells Fargo & Company reduced their target price on shares of Gartner from $401.00 to $400.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. UBS Group decreased their target price on Gartner from $500.00 to $480.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Robert W. Baird cut their price target on Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $513.67.

Gartner Price Performance

NYSE IT traded up $3.20 on Wednesday, reaching $363.07. The company's stock had a trading volume of 1,425,780 shares, compared to its average volume of 523,150. The firm has a market cap of $27.95 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 2.33 and a beta of 1.19. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.64. Gartner, Inc. has a 52 week low of $356.70 and a 52 week high of $584.01. The business has a 50-day moving average price of $415.89 and a 200 day moving average price of $449.38.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.26. Gartner had a return on equity of 96.70% and a net margin of 19.82%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the company posted $2.93 EPS. The company's revenue was up 4.2% compared to the same quarter last year. Sell-side analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Activity

In other news, SVP John J. Rinello sold 109 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total value of $47,562.15. Following the sale, the senior vice president owned 3,280 shares in the company, valued at approximately $1,431,228. The trade was a 3.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robin B. Kranich sold 739 shares of Gartner stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $436.50, for a total transaction of $322,573.50. Following the transaction, the executive vice president directly owned 20,464 shares of the company's stock, valued at $8,932,536. This represents a 3.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,426 shares of company stock valued at $2,430,327. 2.30% of the stock is owned by company insiders.

Gartner Company Profile

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.