Oak Ridge Investments LLC Acquires 12,335 Shares of Gartner, Inc. (IT)
Oak Ridge Investments LLC raised its holdings in shares of Gartner, Inc. (NYSE:IT) by 35.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,074 shares of the information technology services provider’s stock after purchasing an additional 12,335 shares during the quarter. Oak Ridge Investments LLC owned 0.05% of Gartner worth $5,814,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. TimesSquare Capital Management LLC grew its stake in shares of Gartner by 10.8% in the 1st quarter. TimesSquare Capital Management LLC now owns 2,208,950 shares of the information technology services provider’s stock worth $238,545,000 after acquiring an additional 215,550 shares in the last quarter. Virginia Retirement Systems ET AL grew its stake in shares of Gartner by 249.0% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 17,100 shares of the information technology services provider’s stock worth $2,112,000 after acquiring an additional 12,200 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Gartner by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 337,570 shares of the information technology services provider’s stock worth $36,455,000 after acquiring an additional 4,645 shares in the last quarter. OZ Management LP bought a new stake in shares of Gartner in the 2nd quarter worth $63,411,000. Finally, Caldera Capital LLC bought a new stake in shares of Gartner in the 1st quarter worth $11,282,000. Institutional investors and hedge funds own 91.91% of the company’s stock.
Gartner, Inc. (NYSE:IT) opened at 125.65 on Tuesday. Gartner, Inc. has a 52-week low of $84.54 and a 52-week high of $130.02. The company has a market cap of $11.38 billion, a price-to-earnings ratio of 258.01 and a beta of 1.04. The company’s 50-day moving average is $122.31 and its 200 day moving average is $117.02.
Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.83 by $0.05. Gartner had a return on equity of 103.10% and a net margin of 1.50%. The company had revenue of $843.73 million during the quarter, compared to the consensus estimate of $892.64 million. During the same period last year, the company earned $0.75 EPS. Gartner’s revenue for the quarter was up 38.3% on a year-over-year basis. Equities analysts forecast that Gartner, Inc. will post $3.41 earnings per share for the current fiscal year.
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Several research firms have recently issued reports on IT. Piper Jaffray Companies reiterated a “hold” rating and issued a $105.00 target price on shares of Gartner in a research note on Thursday, August 31st. BidaskClub lowered shares of Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. BMO Capital Markets reiterated an “outperform” rating and issued a $132.00 target price (down previously from $137.00) on shares of Gartner in a research note on Monday, August 14th. Zacks Investment Research lowered shares of Gartner from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Finally, TheStreet lowered shares of Gartner from a “b” rating to a “c+” rating in a research note on Tuesday, August 8th. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $126.56.
In related news, Director Anne Sutherland Fuchs sold 5,000 shares of Gartner stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $117.02, for a total value of $585,100.00. Following the completion of the sale, the director now directly owns 29,895 shares in the company, valued at approximately $3,498,312.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robin B. Kranich sold 7,487 shares of Gartner stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $120.08, for a total value of $899,038.96. Following the completion of the sale, the senior vice president now owns 21,298 shares of the company’s stock, valued at $2,557,463.84. The disclosure for this sale can be found here. Insiders sold a total of 23,363 shares of company stock valued at $2,775,387 over 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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