Great Lakes Advisors LLC decreased its position in Gartner, Inc. (NYSE:IT) by 0.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 6,402 shares of the information technology services provider’s stock after selling 51 shares during the period. Great Lakes Advisors LLC’s holdings in Gartner were worth $1,169,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Exencial Wealth Advisors LLC grew its position in shares of Gartner by 10.3% in the 4th quarter. Exencial Wealth Advisors LLC now owns 36,985 shares of the information technology services provider’s stock worth $5,925,000 after acquiring an additional 3,461 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Gartner by 6.2% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 26,377 shares of the information technology services provider’s stock worth $4,225,000 after acquiring an additional 1,534 shares in the last quarter. Walleye Capital LLC acquired a new position in shares of Gartner in the 4th quarter worth approximately $234,000. Voloridge Investment Management LLC acquired a new position in shares of Gartner in the 4th quarter worth approximately $1,269,000. Finally, Diversified LLC acquired a new position in shares of Gartner in the 4th quarter worth approximately $66,000. Institutional investors own 92.30% of the company’s stock.
In other news, CMO Kenneth Allard sold 1,598 shares of the business’s stock in a transaction on Wednesday, May 12th. The stock was sold at an average price of $223.71, for a total value of $357,488.58. Following the sale, the chief marketing officer now owns 1,466 shares of the company’s stock, valued at approximately $327,958.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eugene A. Hall sold 44,804 shares of the business’s stock in a transaction on Monday, March 1st. The stock was sold at an average price of $183.55, for a total value of $8,223,774.20. Following the completion of the sale, the chief executive officer now directly owns 1,242,474 shares in the company, valued at approximately $228,056,102.70. The disclosure for this sale can be found here. Insiders have sold a total of 104,654 shares of company stock valued at $22,111,550 in the last quarter. 4.00% of the stock is currently owned by insiders.
Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, May 4th. The information technology services provider reported $2.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.95. Gartner had a return on equity of 41.76% and a net margin of 5.13%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the firm posted $1.20 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. Equities research analysts predict that Gartner, Inc. will post 4.13 earnings per share for the current fiscal year.
Gartner announced that its board has approved a share buyback program on Tuesday, May 4th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
A number of research analysts recently issued reports on IT shares. Morgan Stanley boosted their price objective on Gartner from $204.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday, May 11th. TheStreet upgraded Gartner from a “c+” rating to a “b+” rating in a research report on Friday, March 12th. Zacks Investment Research upgraded Gartner from a “hold” rating to a “strong-buy” rating and set a $266.00 price objective for the company in a research report on Friday, May 7th. Barclays boosted their price objective on Gartner from $134.00 to $185.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 10th. They noted that the move was a valuation call. Finally, Wells Fargo & Company boosted their price objective on Gartner from $145.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 10th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $203.00.
Gartner Company Profile
Gartner, Inc operates as a research and advisory company in the United States, Canada, Europe, the Middle East, Africa, and internationally. 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.
Featured Article: What is a management fee?
Want to see what other hedge funds are holding IT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gartner, Inc. (NYSE:IT).
Receive News & Ratings for Gartner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gartner and related companies with MarketBeat.com's FREE daily email newsletter.