Victory Capital Management Inc. Has $1.21 Million Position in Gartner, Inc. (IT)

Victory Capital Management Inc. decreased its position in shares of Gartner, Inc. (NYSE:IT) by 3.7% during the first quarter, Holdings Channel reports. The fund owned 11,199 shares of the information technology services provider’s stock after selling 429 shares during the period. Victory Capital Management Inc.’s holdings in Gartner were worth $1,209,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in shares of Gartner during the fourth quarter worth approximately $11,620,000. Bessemer Group Inc. boosted its stake in shares of Gartner by 103.5% in the fourth quarter. Bessemer Group Inc. now owns 5,756 shares of the information technology services provider’s stock worth $582,000 after buying an additional 2,928 shares during the last quarter. State Street Corp boosted its stake in shares of Gartner by 0.6% in the fourth quarter. State Street Corp now owns 2,662,379 shares of the information technology services provider’s stock worth $269,080,000 after buying an additional 14,672 shares during the last quarter. Trexquant Investment LP boosted its stake in shares of Gartner by 6.6% in the fourth quarter. Trexquant Investment LP now owns 3,199 shares of the information technology services provider’s stock worth $323,000 after buying an additional 199 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Gartner by 360.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 139,187 shares of the information technology services provider’s stock worth $14,071,000 after buying an additional 108,937 shares during the last quarter. Institutional investors own 88.01% of the company’s stock.

Institutional Ownership by Quarter for Gartner (NYSE:IT)

Shares of Gartner, Inc. (NYSE:IT) opened at 122.99 on Wednesday. Gartner, Inc. has a 1-year low of $84.54 and a 1-year high of $124.37. The firm has a 50-day moving average of $117.05 and a 200 day moving average of $107.87. The stock has a market capitalization of $11.12 billion, a PE ratio of 55.90 and a beta of 1.05.

Gartner (NYSE:IT) last issued its quarterly earnings results on Thursday, May 4th. The information technology services provider reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.61 by $0.01. Gartner had a net margin of 7.22% and a return on equity of 954.04%. The firm had revenue of $625.17 million for the quarter, compared to analysts’ expectations of $612.84 million. During the same period in the prior year, the firm earned $0.67 EPS. Gartner’s revenue for the quarter was up 12.2% compared to the same quarter last year. Analysts predict that Gartner, Inc. will post $3.48 EPS for the current year.

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IT has been the topic of a number of recent research reports. Royal Bank Of Canada upgraded shares of Gartner from an “outperform” rating to a “top pick” rating and upped their price target for the company from $117.00 to $124.00 in a research note on Monday, March 13th. Zacks Investment Research cut shares of Gartner from a “hold” rating to a “sell” rating in a research note on Tuesday, March 14th. BMO Capital Markets restated a “buy” rating and set a $110.00 price target on shares of Gartner in a research note on Wednesday, April 5th. Barclays PLC upped their price target on shares of Gartner from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, April 6th. Finally, Credit Suisse Group restated a “buy” rating and set a $124.00 price target on shares of Gartner in a research note on Tuesday, April 11th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $118.36.

In other Gartner news, SVP Peter Sondergaard sold 4,172 shares of Gartner stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $111.90, for a total transaction of $466,846.80. Following the transaction, the senior vice president now owns 93,765 shares of the company’s stock, valued at $10,492,303.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eugene A. Hall sold 38,800 shares of Gartner stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $117.86, for a total transaction of $4,572,968.00. Following the transaction, the chief executive officer now directly owns 1,304,375 shares in the company, valued at approximately $153,733,637.50. The disclosure for this sale can be found here. Insiders have sold 49,297 shares of company stock worth $5,793,254 in the last ninety days. Insiders own 4.40% of the company’s stock.

About Gartner

Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “IT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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