Prudential Financial Inc. boosted its position in shares of Gartner, Inc. (NYSE:IT) by 0.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,537 shares of the information technology services provider’s stock after buying an additional 316 shares during the period. Prudential Financial Inc.’s holdings in Gartner were worth $5,565,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in the stock. State Street Corp increased its position in 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 period. Bank of New York Mellon Corp increased its position in Gartner by 3.9% in the first quarter. Bank of New York Mellon Corp now owns 970,456 shares of the information technology services provider’s stock worth $104,799,000 after buying an additional 36,609 shares during the period. Norges Bank bought a new position in Gartner during the fourth quarter worth approximately $73,679,000. Swiss National Bank increased its position in Gartner by 15.8% in the first quarter. Swiss National Bank now owns 533,459 shares of the information technology services provider’s stock worth $57,608,000 after buying an additional 72,700 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in Gartner by 7.9% in the first quarter. UBS Asset Management Americas Inc. now owns 315,986 shares of the information technology services provider’s stock worth $34,123,000 after buying an additional 23,069 shares during the period. 88.01% of the stock is currently owned by institutional investors.
Gartner, Inc. (NYSE IT) opened at 122.99 on Wednesday. The firm’s 50-day moving average is $117.05 and its 200 day moving average is $107.87. The stock has a market capitalization of $11.12 billion, a P/E ratio of 55.90 and a beta of 1.05. Gartner, Inc. has a 12 month low of $84.54 and a 12 month high of $124.37.
Gartner (NYSE:IT) last released its 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 business had revenue of $625.17 million for the quarter, compared to the consensus estimate of $612.84 million. During the same quarter in the previous year, the firm earned $0.67 EPS. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, equities analysts anticipate that Gartner, Inc. will post $3.48 earnings per share for the current year.
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A number of research analysts recently commented on IT shares. Credit Suisse Group reaffirmed a “buy” rating and issued a $124.00 target price on shares of Gartner in a research report on Tuesday, April 11th. BMO Capital Markets reaffirmed a “buy” rating and issued a $110.00 target price on shares of Gartner in a research report on Wednesday, April 5th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $128.00 target price on shares of Gartner in a research report on Monday, May 8th. Zacks Investment Research raised shares of Gartner from a “hold” rating to a “buy” rating and set a $127.00 target price on the stock in a research report on Tuesday, May 9th. Finally, Morgan Stanley increased their target price on shares of Gartner from $106.00 to $112.00 and gave the company an “equal weight” rating in a research report on Monday, May 8th. Four research 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 company. Gartner presently has an average rating of “Buy” and an average price target of $118.36.
In other Gartner news, CEO Eugene A. Hall sold 38,800 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 1,304,375 shares in the company, valued at $153,733,637.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Karen E. Dykstra sold 2,500 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $120.61, for a total transaction of $301,525.00. Following the sale, the director now owns 18,223 shares of the company’s stock, valued at approximately $2,197,876.03. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,297 shares of company stock valued at $5,793,254. 4.40% of the stock is owned by insiders.
Gartner Company Profile
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.
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