Tobam Increases Stake in Gartner, Inc. (IT)
Tobam boosted its position in Gartner, Inc. (NYSE:IT) by 8.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,214 shares of the information technology services provider’s stock after buying an additional 2,722 shares during the period. Tobam’s holdings in Gartner were worth $4,349,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. TimesSquare Capital Management LLC increased its position in shares of Gartner by 10.8% in the first quarter. TimesSquare Capital Management LLC now owns 2,208,950 shares of the information technology services provider’s stock worth $238,545,000 after buying an additional 215,550 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Gartner by 1.4% in the first quarter. Principal Financial Group Inc. now owns 337,570 shares of the information technology services provider’s stock worth $36,455,000 after buying an additional 4,645 shares during the last quarter. Caldera Capital LLC bought a new position in shares of Gartner during the first quarter worth approximately $11,282,000. State of Alaska Department of Revenue increased its position in shares of Gartner by 1.3% in the second quarter. State of Alaska Department of Revenue now owns 3,832 shares of the information technology services provider’s stock worth $473,000 after buying an additional 50 shares during the last quarter. Finally, Credit Agricole S A boosted its stake in Gartner by 76.9% in the first quarter. Credit Agricole S A now owns 37,912 shares of the information technology services provider’s stock worth $4,094,000 after buying an additional 16,481 shares during the period. Institutional investors and hedge funds own 91.91% of the company’s stock.
Gartner, Inc. (IT) opened at 118.75 on Monday. Gartner, Inc. has a 12-month low of $84.54 and a 12-month high of $130.02. The firm has a 50 day moving average price of $124.10 and a 200 day moving average price of $115.45. The company has a market cap of $10.76 billion, a PE ratio of 243.84 and a beta of 1.05.
Gartner (NYSE:IT) last released its earnings results on Tuesday, August 8th. The information technology services provider reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.05. Gartner had a net margin of 1.50% and a return on equity of 103.10%. The company had revenue of $843.73 million for the quarter, compared to the consensus estimate of $892.64 million. During the same quarter in the previous year, the company earned $0.75 EPS. Gartner’s quarterly revenue was up 38.3% compared to the same quarter last year. On average, analysts anticipate that Gartner, Inc. will post $3.41 earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on IT shares. BidaskClub cut Gartner from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 9th. BMO Capital Markets reaffirmed an “outperform” rating and set a $132.00 price target (down previously from $137.00) on shares of Gartner in a report on Monday, August 14th. Credit Suisse Group reaffirmed an “outperform” rating and set a $138.00 price target (up previously from $130.00) on shares of Gartner in a report on Wednesday, August 9th. Morgan Stanley boosted their target price on Gartner from $106.00 to $112.00 and gave the stock an “equal weight” rating in a report on Monday, May 8th. Finally, Zacks Investment Research cut Gartner from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $129.25.
In related news, 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 transaction, the director now owns 18,223 shares in the company, valued at approximately $2,197,876.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the chief executive officer now 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 a total of 53,601 shares of company stock worth $6,327,825 in the last quarter. 4.40% of the stock is owned by corporate insiders.
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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