BlackRock Advisors LLC boosted its position in Gartner Inc. (NYSE:IT) by 10.5% during the second quarter, Holdings Channel reports. The institutional investor owned 45,968 shares of the company’s stock after buying an additional 4,360 shares during the period. BlackRock Advisors LLC owned about 0.06% of Gartner worth $4,478,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Aperio Group LLC increased its stake in shares of Gartner by 5.8% in the first quarter. Aperio Group LLC now owns 14,448 shares of the company’s stock worth $1,291,000 after buying an additional 792 shares in the last quarter. Ngam Advisors L.P. bought a new stake in Gartner during the first quarter valued at $1,384,000. TIAA CREF Investment Management LLC increased its stake in Gartner by 0.9% in the first quarter. TIAA CREF Investment Management LLC now owns 292,135 shares of the company’s stock valued at $26,102,000 after buying an additional 2,562 shares during the period. Teachers Advisors Inc. increased its stake in Gartner by 0.5% in the first quarter. Teachers Advisors Inc. now owns 63,311 shares of the company’s stock valued at $5,657,000 after buying an additional 286 shares during the period. Finally, BlackRock Inc. increased its stake in Gartner by 7.0% in the first quarter. BlackRock Inc. now owns 118,491 shares of the company’s stock valued at $10,587,000 after buying an additional 7,752 shares during the period. Institutional investors and hedge funds own 90.42% of the company’s stock.
Shares of Gartner Inc. (NYSE:IT) opened at 88.13 on Wednesday. Gartner Inc. has a 52-week low of $77.80 and a 52-week high of $103.00. The stock has a market capitalization of $7.28 billion, a PE ratio of 40.19 and a beta of 1.03. The stock’s 50 day moving average is $89.36 and its 200 day moving average is $93.87.
Gartner (NYSE:IT) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by $0.02. Gartner had a negative return on equity of 197.12% and a net margin of 7.97%. The firm had revenue of $610 million for the quarter, compared to analyst estimates of $596.78 million. During the same period last year, the company earned $0.65 EPS. The company’s revenue was up 11.3% compared to the same quarter last year. Equities research analysts expect that Gartner Inc. will post $2.81 earnings per share for the current fiscal year.
Several research firms recently weighed in on IT. Zacks Investment Research downgraded shares of Gartner from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. Macquarie began coverage on shares of Gartner in a report on Thursday, August 25th. They issued an “outperform” rating and a $108.00 target price for the company. Cantor Fitzgerald reiterated a “buy” rating on shares of Gartner in a report on Friday, August 19th. Piper Jaffray Cos. reiterated a “neutral” rating and issued a $90.00 target price (down previously from $93.00) on shares of Gartner in a report on Monday, August 8th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $109.00 target price (down previously from $111.00) on shares of Gartner in a report on Sunday, August 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Gartner has a consensus rating of “Hold” and a consensus price target of $99.08.
In other news, SVP David Godfrey sold 10,198 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $94.10, for a total value of $959,631.80. Following the completion of the sale, the senior vice president now owns 29,570 shares of the company’s stock, valued at approximately $2,782,537. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Karen E. Dykstra sold 3,086 shares of the stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $90.98, for a total value of $280,764.28. Following the completion of the sale, the director now directly owns 18,763 shares of the company’s stock, valued at approximately $1,707,057.74. The disclosure for this sale can be found here. 4.40% of the stock is owned by insiders.
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