Mackenzie Financial Corp Has $305.74 Million Position in Gartner, Inc. (NYSE:IT)

Key Points

• Mackenzie Financial Corp reduced its position in Gartner, Inc. by 4.2%, owning 728,398 shares valued at approximately $305.74 million as of the end of the first quarter.
• Other institutional investors, including FMR LLC and Wellington Management Group, also increased their holdings in Gartner during the fourth quarter, with institutional investors collectively owning 91.51% of the stock.
• Gartner's recent quarterly earnings report revealed an EPS of $2.98, surpassing estimates, with revenue of $1.54 billion, reflecting a 4.2% increase year-over-year.

Mackenzie Financial Corp trimmed its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 4.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 728,398 shares of the information technology services provider's stock after selling 32,194 shares during the period. Mackenzie Financial Corp owned approximately 0.95% of Gartner worth $305,738,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new position in shares of Gartner during the 4th quarter valued at $309,000. Commonwealth Equity Services LLC lifted its holdings in shares of Gartner by 0.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 3,379 shares of the information technology services provider's stock valued at $1,637,000 after purchasing an additional 30 shares during the last quarter. LPL Financial LLC boosted its position in shares of Gartner by 0.6% in the 4th quarter. LPL Financial LLC now owns 30,726 shares of the information technology services provider's stock valued at $14,886,000 after purchasing an additional 191 shares during the period. New Age Alpha Advisors LLC boosted its position in shares of Gartner by 28,040.0% in the 4th quarter. New Age Alpha Advisors LLC now owns 5,628 shares of the information technology services provider's stock valued at $2,727,000 after purchasing an additional 5,608 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its stake in Gartner by 3.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 42,636 shares of the information technology services provider's stock worth $20,656,000 after purchasing an additional 1,380 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Transactions at Gartner

In other Gartner news, SVP John J. Rinello sold 109 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total transaction of $47,562.15. Following the transaction, the senior vice president directly owned 3,280 shares of the company's stock, valued at $1,431,228. This represents a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Akhil Jain sold 625 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $450.00, for a total value of $281,250.00. Following the completion of the sale, the executive vice president directly owned 6,548 shares of the company's stock, valued at $2,946,600. This represents a 8.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,426 shares of company stock valued at $2,430,327 in the last three months. 2.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IT. Barclays decreased their target price on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Morgan Stanley cut their target price on shares of Gartner from $490.00 to $455.00 and set an "equal weight" rating on the stock in a research note on Thursday. The Goldman Sachs Group decreased their target price on Gartner from $622.00 to $535.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Wells Fargo & Company lowered their price target on Gartner from $400.00 to $345.00 and set an "underweight" rating on the stock in a report on Friday, July 18th. Finally, UBS Group reduced their price objective on Gartner from $500.00 to $480.00 and set a "buy" rating for the company in a research note on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Gartner has an average rating of "Hold" and an average price target of $496.44.

Gartner Stock Down 1.0%

IT traded down $3.57 during trading on Thursday, reaching $340.23. 338,184 shares of the stock traded hands, compared to its average volume of 691,570. The stock's 50-day simple moving average is $399.82 and its two-hundred day simple moving average is $440.79. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.09 and a quick ratio of 1.09. Gartner, Inc. has a fifty-two week low of $339.54 and a fifty-two week high of $584.01. The stock has a market cap of $26.19 billion, a price-to-earnings ratio of 21.16 and a beta of 1.19.

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

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.