MQS Management LLC purchased a new position in shares of Gartner, Inc. (NYSE:IT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,414 shares of the information technology services provider's stock, valued at approximately $594,000.
A number of other institutional investors also recently added to or reduced their stakes in IT. Cary Street Partners Financial LLC bought a new stake in shares of Gartner in the 4th quarter worth $27,000. Itau Unibanco Holding S.A. raised its stake in shares of 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 in the last quarter. Olde Wealth Management LLC bought a new stake in shares of Gartner in the 1st quarter worth $42,000. Wayfinding Financial LLC bought a new stake in shares of Gartner in the 1st quarter worth $55,000. Finally, Hurley Capital LLC acquired a new stake in shares of Gartner during the fourth quarter worth $73,000. Institutional investors and hedge funds own 91.51% of the company's stock.
Gartner Stock Down 3.5%
NYSE:IT traded down $13.59 during trading hours on Friday, hitting $374.19. 817,775 shares of the company's stock traded hands, compared to its average volume of 512,753. The firm has a market cap of $28.80 billion, a P/E ratio of 23.29, a P/E/G ratio of 2.43 and a beta of 1.19. Gartner, Inc. has a twelve month low of $366.05 and a twelve month high of $584.01. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.09 and a current ratio of 1.09. The stock's fifty day moving average price is $419.94 and its two-hundred day moving average price is $451.67.
Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $1.54 billion for 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%. Gartner's quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.93 earnings per share. On average, research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.
Insider Activity
In other Gartner news, CFO Craig Safian sold 3,415 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $450.17, for a total value of $1,537,330.55. Following the transaction, the chief financial officer owned 77,890 shares in the company, valued at $35,063,741.30. The trade was a 4.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP William James Wartinbee III sold 538 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $449.09, for a total value of $241,610.42. Following the completion of the transaction, the executive vice president owned 7,965 shares in the company, valued at $3,577,001.85. This trade represents a 6.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,426 shares of company stock valued at $2,430,327 in the last ninety days. Corporate insiders own 2.30% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently issued reports on IT. The Goldman Sachs Group cut their target price on Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Barclays cut their target price on 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 lowered Gartner from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Robert W. Baird cut their target price on Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Finally, Wells Fargo & Company cut their target price on Gartner from $401.00 to $400.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $515.89.
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Gartner Company Profile
(
Free Report)
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.
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