Vigilant Capital Management LLC bought a new position in shares of Gartner, Inc. (NYSE:IT) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 400 shares of the information technology services provider’s stock, valued at approximately $50,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of IT. Public Employees Retirement Association of Colorado lifted its position in shares of Gartner by 4.5% during the first quarter. Public Employees Retirement Association of Colorado now owns 13,097 shares of the information technology services provider’s stock worth $1,304,000 after purchasing an additional 562 shares in the last quarter. Rafferty Asset Management LLC bought a new stake in shares of Gartner in the first quarter worth $243,000. Thrivent Financial for Lutherans increased its stake in shares of Gartner by 148.0% in the first quarter. Thrivent Financial for Lutherans now owns 31,841 shares of the information technology services provider’s stock worth $3,170,000 after buying an additional 19,003 shares during the last quarter. Balyasny Asset Management LLC bought a new stake in shares of Gartner in the first quarter worth $7,035,000. Finally, Two Sigma Advisers LP increased its stake in shares of Gartner by 892.5% in the first quarter. Two Sigma Advisers LP now owns 80,392 shares of the information technology services provider’s stock worth $8,005,000 after buying an additional 72,292 shares during the last quarter. 94.55% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Gartner from $130.00 to $134.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 5th. Zacks Investment Research upgraded shares of Gartner from a “sell” rating to a “hold” rating and set a $137.00 price target for the company in a research note on Thursday, August 6th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $127.33.
Gartner (NYSE:IT) last released its earnings results on Tuesday, August 4th. The information technology services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.39. Gartner had a net margin of 5.70% and a return on equity of 41.19%. The firm had revenue of $1,000.00 million during the quarter, compared to analyst estimates of $937.39 million. During the same quarter in the previous year, the firm earned $1.45 earnings per share. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, analysts expect that Gartner, Inc. will post 3.2 EPS for the current fiscal year.
In other news, Director James C. Smith sold 13,625 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $133.24, for a total transaction of $1,815,395.00. Following the completion of the transaction, the director now owns 704,506 shares in the company, valued at $93,868,379.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James C. Smith sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $130.43, for a total transaction of $1,304,300.00. Following the transaction, the director now owns 794,506 shares of the company’s stock, valued at approximately $103,627,417.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,130 shares of company stock valued at $4,365,732. 4.00% of the stock is owned by insiders.
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 reports, briefings, proprietary tools, access to research expert, peer networking services, and membership programs that enable clients to drive organizational performance; and research and analysis in various business functions, such as human resources, sales, legal, and finance.
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