Mizuho Asset Management Co. Ltd. acquired a new position in Gartner Inc. (NYSE:IT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,084 shares of the company’s stock, valued at approximately $106,000.
Several other hedge funds also recently bought and sold shares of IT. Acadian Asset Management LLC acquired a new stake in Gartner during the second quarter valued at $179,000. Bessemer Group Inc. increased its stake in 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. Concert Wealth Management Inc. acquired a new stake in Gartner during the second quarter valued at $213,000. Janney Montgomery Scott LLC acquired a new stake in Gartner during the second quarter valued at $321,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Gartner during the first quarter valued at $354,000. 90.45% of the stock is owned by institutional investors.
Shares of Gartner Inc. (NYSE:IT) traded down 0.21% during trading on Thursday, hitting $89.25. 17,816 shares of the company traded hands. The company has a 50 day moving average price of $90.78 and a 200 day moving average price of $93.74. Gartner Inc. has a 52 week low of $77.80 and a 52 week high of $103.00. The company has a market capitalization of $7.37 billion, a price-to-earnings ratio of 40.70 and a beta of 0.97.
Gartner (NYSE:IT) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.65 EPS 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 business earned $610 million during the quarter, compared to analysts’ expectations of $596.78 million. During the same period in the previous year, the business earned $0.65 earnings per share. The business’s quarterly revenue was up 11.3% on a year-over-year basis. On average, analysts expect that Gartner Inc. will post $2.81 earnings per share for the current year.
Several analysts have weighed in on the stock. Robert W. Baird reissued an “outperform” rating and issued a $109.00 price target (down from $111.00) on shares of Gartner in a research note on Sunday, August 7th. Zacks Investment Research downgraded shares of Gartner from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 7th. Macquarie assumed coverage on shares of Gartner in a research note on Thursday, August 25th. They issued an “outperform” rating and a $108.00 price target for the company. Cantor Fitzgerald reissued a “buy” rating and issued a $108.00 price target on shares of Gartner in a research note on Friday, August 5th. Finally, Piper Jaffray Cos. reissued a “neutral” rating and issued a $90.00 price target (down from $93.00) on shares of Gartner in a research note on Monday, August 8th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $99.08.
In other news, Director Karen E. Dykstra sold 3,086 shares of the firm’s stock in a transaction dated 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 owns 18,763 shares in the company, valued at approximately $1,707,057.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David Godfrey sold 10,198 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $94.10, for a total transaction 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 disclosure for this sale can be found here. 4.40% of the stock is currently owned by company insiders.
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