Gartner, Inc. (IT) Shares Sold by Ameriprise Financial Inc.
Ameriprise Financial Inc. trimmed its stake in shares of Gartner, Inc. (NYSE:IT) by 32.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 177,511 shares of the information technology services provider’s stock after selling 84,372 shares during the period. Ameriprise Financial Inc. owned 0.20% of Gartner worth $21,923,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. TimesSquare Capital Management LLC grew its stake in Gartner by 10.8% during the first quarter. TimesSquare Capital Management LLC now owns 2,208,950 shares of the information technology services provider’s stock valued at $238,545,000 after acquiring an additional 215,550 shares in the last quarter. Virginia Retirement Systems ET AL grew its stake in Gartner by 249.0% during the second quarter. Virginia Retirement Systems ET AL now owns 17,100 shares of the information technology services provider’s stock valued at $2,112,000 after acquiring an additional 12,200 shares in the last quarter. Atlantic Trust Group LLC purchased a new position in Gartner during the second quarter valued at $1,297,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in Gartner by 3.8% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 209,092 shares of the information technology services provider’s stock valued at $25,825,000 after acquiring an additional 7,596 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Gartner by 6.5% during the second quarter. JPMorgan Chase & Co. now owns 1,254,564 shares of the information technology services provider’s stock valued at $154,949,000 after acquiring an additional 77,018 shares in the last quarter. 91.93% of the stock is owned by institutional investors.
In other Gartner news, SVP Alwyn Dawkins sold 1,000 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $118.62, for a total transaction of $118,620.00. Following the completion of the transaction, the senior vice president now owns 27,137 shares of the company’s stock, valued at $3,218,990.94. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Robin B. Kranich sold 7,487 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $120.08, for a total transaction of $899,038.96. Following the transaction, the senior vice president now directly owns 21,298 shares of the company’s stock, valued at approximately $2,557,463.84. The disclosure for this sale can be found here. Insiders sold 23,363 shares of company stock valued at $2,775,387 in the last three months. 4.40% of the stock is currently owned by insiders.
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Gartner, Inc. (NYSE:IT) opened at 124.41 on Friday. The company’s 50 day moving average is $121.55 and its 200-day moving average is $117.93. The stock has a market capitalization of $11.27 billion, a PE ratio of 255.46 and a beta of 1.04. Gartner, Inc. has a 1-year low of $84.54 and a 1-year high of $130.02.
Gartner (NYSE:IT) last announced its quarterly earnings data 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 firm had revenue of $843.73 million during the quarter, compared to analyst estimates of $892.64 million. During the same quarter in the prior year, the firm posted $0.75 earnings per share. Gartner’s quarterly revenue was up 38.3% on a year-over-year basis. Analysts forecast that Gartner, Inc. will post $3.41 earnings per share for the current fiscal year.
IT has been the subject of several research analyst reports. Zacks Investment Research cut shares of Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. BMO Capital Markets reissued an “outperform” rating and issued a $132.00 price objective (down from $137.00) on shares of Gartner in a research note on Monday, August 14th. Royal Bank Of Canada reissued a “top pick” rating and issued a $142.00 price objective (up from $130.00) on shares of Gartner in a research note on Friday, July 21st. Piper Jaffray Companies reissued a “hold” rating and issued a $105.00 price objective on shares of Gartner in a research note on Thursday, August 31st. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $138.00 price objective (up from $130.00) on shares of Gartner in a research note on Wednesday, August 9th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Gartner presently has an average rating of “Buy” and a consensus price target of $126.56.
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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