Federated Investors Inc. PA Sells 41,590 Shares of Gartner, Inc. (IT)
Federated Investors Inc. PA reduced its holdings in shares of Gartner, Inc. (NYSE:IT) by 87.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,010 shares of the information technology services provider’s stock after selling 41,590 shares during the period. Federated Investors Inc. PA’s holdings in Gartner were worth $742,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Gartner during the 2nd quarter valued at about $124,000. Global X Management Co. LLC boosted its position in shares of Gartner by 31.6% during the 1st quarter. Global X Management Co. LLC now owns 1,725 shares of the information technology services provider’s stock valued at $186,000 after acquiring an additional 414 shares in the last quarter. 1st Global Advisors Inc. acquired a new stake in shares of Gartner during the 1st quarter valued at about $204,000. Creative Planning boosted its position in shares of Gartner by 1.2% during the 2nd quarter. Creative Planning now owns 1,950 shares of the information technology services provider’s stock valued at $241,000 after acquiring an additional 23 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of Gartner by 4.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,488 shares of the information technology services provider’s stock valued at $269,000 after acquiring an additional 111 shares in the last quarter. Institutional investors and hedge funds own 91.93% of the company’s stock.
In related news, SVP Alwyn Dawkins sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $119.21, for a total value of $119,210.00. Following the transaction, the senior vice president now directly owns 23,699 shares of the company’s stock, valued at approximately $2,825,157.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Robin B. Kranich sold 7,487 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 21,298 shares in the company, valued at $2,557,463.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,363 shares of company stock worth $2,775,387. 4.40% of the stock is owned by insiders.
Several analysts have recently weighed in on the stock. Royal Bank Of Canada reiterated a “top pick” rating and set a $142.00 target price (up from $130.00) on shares of Gartner in a research report on Friday, July 21st. Zacks Investment Research upgraded shares of Gartner from a “hold” rating to a “buy” rating and set a $142.00 price target on the stock in a research report on Wednesday, July 19th. BidaskClub lowered shares of Gartner from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. Credit Suisse Group restated an “outperform” rating and issued a $138.00 price target (up from $130.00) on shares of Gartner in a research report on Wednesday, August 9th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $105.00 price target on shares of Gartner in a research report on Thursday, August 31st. Six equities 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 stock. The stock has a consensus rating of “Buy” and an average price target of $126.56.
Gartner, Inc. (IT) opened at 122.63 on Tuesday. The firm has a market capitalization of $11.11 billion, a price-to-earnings ratio of 251.81 and a beta of 1.04. The firm has a 50-day moving average of $121.69 and a 200-day moving average of $117.79. Gartner, Inc. has a 52-week low of $84.54 and a 52-week high of $130.02.
Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, August 8th. The information technology services provider reported $0.88 EPS for the quarter, topping the Zacks’ 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 for the quarter, compared to analysts’ expectations of $892.64 million. During the same period in the previous year, the firm earned $0.75 EPS. The firm’s revenue was up 38.3% compared to the same quarter last year. On average, equities research analysts forecast that Gartner, Inc. will post $3.41 EPS for the current fiscal year.
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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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