LS Investment Advisors LLC raised its stake in Gartner Inc. (NYSE:IT) by 39.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,181 shares of the company’s stock after buying an additional 2,333 shares during the period. LS Investment Advisors LLC’s holdings in Gartner were worth $797,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of IT. Acadian Asset Management LLC purchased a new stake in Gartner during the second quarter worth approximately $179,000. Bessemer Group Inc. boosted its position in shares of Gartner by 157.0% in the first quarter. Bessemer Group Inc. now owns 2,141 shares of the company’s stock valued at $192,000 after buying an additional 1,308 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Gartner during the first quarter valued at $354,000. Pacad Investment Ltd. bought a new position in shares of Gartner during the first quarter valued at $474,000. Finally, AXA bought a new position in shares of Gartner during the first quarter valued at $554,000. 90.45% of the stock is owned by institutional investors and hedge funds.
Shares of Gartner Inc. (NYSE:IT) traded up 1.54% during mid-day trading on Wednesday, hitting $88.80. The stock had a trading volume of 256,402 shares. The stock has a 50 day moving average price of $89.69 and a 200-day moving average price of $93.91. Gartner Inc. has a 52-week low of $77.80 and a 52-week high of $103.00. The company has a market cap of $7.34 billion, a PE ratio of 40.49 and a beta of 1.03.
Gartner (NYSE:IT) last posted its quarterly earnings data 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 company had revenue of $610 million for the quarter, compared to analyst estimates of $596.78 million. During the same period in the previous year, the business posted $0.65 earnings per share. The firm’s revenue was up 11.3% compared to the same quarter last year. On average, equities analysts expect that Gartner Inc. will post $2.81 earnings per share for the current fiscal year.
Several brokerages recently weighed in on IT. Zacks Investment Research upgraded Gartner from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. BMO Capital Markets reiterated a “hold” rating and set a $100.00 price target on shares of Gartner in a research report on Friday, August 5th. Robert W. Baird reiterated an “outperform” rating and set a $109.00 price target (down from $111.00) on shares of Gartner in a research report on Sunday, August 7th. Piper Jaffray Cos. reiterated a “neutral” rating and set a $90.00 price target (down from $93.00) on shares of Gartner in a research report on Monday, August 8th. Finally, Morgan Stanley set a $101.00 price target on Gartner and gave the company a “hold” rating in a research report on Friday, August 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $99.08.
In related news, Director Karen E. Dykstra sold 3,086 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $90.98, for a total value of $280,764.28. Following the completion of the transaction, the director now directly owns 18,763 shares of the company’s stock, valued at approximately $1,707,057.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David Godfrey sold 10,198 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $94.10, for a total value of $959,631.80. Following the completion of the transaction, the senior vice president now directly owns 29,570 shares of the company’s stock, valued at $2,782,537. The disclosure for this sale can be found here. Company insiders own 4.40% of the company’s stock.
Gartner Company Profile
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