Geode Capital Management LLC lifted its holdings in Gartner Inc (NYSE:IT) by 11.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,165,951 shares of the information technology services provider’s stock after buying an additional 122,793 shares during the quarter. Geode Capital Management LLC’s holdings in Gartner were worth $148,786,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in IT. NumerixS Investment Technologies Inc bought a new stake in Gartner during the 4th quarter worth about $176,000. Vanguard Group Inc raised its holdings in Gartner by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 9,199,545 shares of the information technology services provider’s stock worth $1,458,127,000 after purchasing an additional 43,975 shares during the last quarter. Raymond James & Associates raised its holdings in Gartner by 3.6% during the 4th quarter. Raymond James & Associates now owns 33,449 shares of the information technology services provider’s stock worth $4,276,000 after purchasing an additional 1,164 shares during the last quarter. Securian Asset Management Inc raised its holdings in Gartner by 1.1% during the 4th quarter. Securian Asset Management Inc now owns 9,484 shares of the information technology services provider’s stock worth $1,212,000 after purchasing an additional 100 shares during the last quarter. Finally, IFM Investors Pty Ltd raised its holdings in Gartner by 8.6% during the 4th quarter. IFM Investors Pty Ltd now owns 5,712 shares of the information technology services provider’s stock worth $730,000 after purchasing an additional 454 shares during the last quarter. 97.66% of the stock is owned by institutional investors and hedge funds.
Gartner stock opened at $154.02 on Friday. The stock has a market cap of $13.96 billion, a PE ratio of 40.64, a P/E/G ratio of 2.75 and a beta of 1.31. Gartner Inc has a 1 year low of $120.89 and a 1 year high of $161.85. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.67 and a quick ratio of 0.67.
Gartner (NYSE:IT) last posted its earnings results on Tuesday, May 7th. The information technology services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.05. The company had revenue of $970.00 million during the quarter, compared to analyst estimates of $960.72 million. Gartner had a return on equity of 37.59% and a net margin of 4.09%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 EPS. Equities analysts forecast that Gartner Inc will post 3.96 EPS for the current year.
In other news, CFO Craig Safian sold 3,635 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $140.64, for a total transaction of $511,226.40. Following the completion of the transaction, the chief financial officer now directly owns 33,008 shares in the company, valued at approximately $4,642,245.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robin B. Kranich sold 6,366 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $154.27, for a total value of $982,082.82. Following the transaction, the executive vice president now owns 10,265 shares of the company’s stock, valued at $1,583,581.55. The disclosure for this sale can be found here. Insiders have sold a total of 118,391 shares of company stock valued at $17,030,200 over the last 90 days. Corporate insiders own 4.00% of the company’s stock.
Several analysts have weighed in on IT shares. Cantor Fitzgerald reissued a “hold” rating and set a $141.00 price objective on shares of Gartner in a report on Thursday, February 14th. TheStreet raised Gartner from a “c+” rating to a “b” rating in a report on Tuesday, February 5th. BMO Capital Markets cut Gartner from an “outperform” rating to a “market perform” rating and set a $139.30 price objective for the company. in a report on Wednesday, February 6th. Bank of America reissued a “buy” rating and set a $150.00 price objective on shares of Gartner in a report on Wednesday, February 6th. Finally, Zacks Investment Research cut Gartner from a “hold” rating to a “sell” rating in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $148.38.
Gartner, Inc operates as a research and advisory company. It operates through three segments: Research, Conferences, and Consulting. The Research segment offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through research and other reports, briefings, proprietary tools, access to analysts, peer networking services, and membership programs that enable clients to make better decisions; and practice and talent management research insights in various business functions, such as human resources, sales, legal, and finance.
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