GW&K Investment Management LLC lifted its stake in shares of Gartner Inc (NYSE:IT) by 10.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 407,538 shares of the information technology services provider’s stock after purchasing an additional 38,093 shares during the period. Gartner comprises about 0.8% of GW&K Investment Management LLC’s investment portfolio, making the stock its 20th biggest holding. GW&K Investment Management LLC owned about 0.45% of Gartner worth $58,274,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of IT. Bartlett & Co. LLC acquired a new stake in shares of Gartner in the third quarter valued at approximately $29,000. Ibex Wealth Advisors acquired a new position in shares of Gartner during the second quarter valued at approximately $40,000. Squar Milner Financial Services LLC increased its stake in shares of Gartner by 116.3% during the third quarter. Squar Milner Financial Services LLC now owns 318 shares of the information technology services provider’s stock valued at $45,000 after acquiring an additional 171 shares during the period. Strategic Blueprint LLC acquired a new position in shares of Gartner during the third quarter valued at approximately $46,000. Finally, Quest Capital Management Inc. ADV acquired a new position in shares of Gartner during the third quarter valued at approximately $52,000. 95.83% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Alwyn Dawkins sold 771 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $129.52, for a total transaction of $99,859.92. Following the completion of the sale, the executive vice president now directly owns 34,235 shares in the company, valued at $4,434,117.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robin B. Kranich sold 2,830 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $155.86, for a total transaction of $441,083.80. Following the sale, the executive vice president now owns 5,372 shares of the company’s stock, valued at $837,279.92. The disclosure for this sale can be found here. Insiders have sold 19,413 shares of company stock valued at $2,950,989 over the last 90 days. 4.00% of the stock is currently owned by insiders.
NYSE:IT traded up $0.36 during trading hours on Friday, reaching $160.36. 318,300 shares of the company’s stock were exchanged, compared to its average volume of 490,408. The company has a market capitalization of $14.49 billion, a P/E ratio of 42.31, a price-to-earnings-growth ratio of 3.48 and a beta of 1.23. Gartner Inc has a 12 month low of $120.89 and a 12 month high of $171.77. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 3.08. The business’s 50-day simple moving average is $146.03 and its two-hundred day simple moving average is $149.67.
Gartner (NYSE:IT) last issued its earnings results on Thursday, October 31st. The information technology services provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.27. The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $992.84 million. Gartner had a net margin of 6.04% and a return on equity of 40.06%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $0.85 earnings per share. As a group, sell-side analysts anticipate that Gartner Inc will post 3.55 earnings per share for the current fiscal year.
IT has been the topic of a number of research analyst reports. BMO Capital Markets lowered their price objective on shares of Gartner to $142.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 31st. ValuEngine upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. TheStreet lowered shares of Gartner from a “b” rating to a “c+” rating in a research note on Thursday, October 31st. Bank of America raised their price objective on shares of Gartner from $150.00 to $172.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Morgan Stanley lowered their price objective on shares of Gartner from $156.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $155.40.
Gartner Company Profile
Gartner, Inc operates as a research and advisory company. It operates through three segments: Research, Conferences, and Consulting. The Research segment offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through research and other reports, briefings, proprietary tools, access to analysts, peer networking services, and membership programs that enable clients to make better decisions; and practice and talent management research insights in various business functions, such as human resources, sales, legal, and finance.
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