Northern Trust Corp boosted its holdings in shares of Gartner Inc (NYSE:IT) by 4.3% during the second quarter, Holdings Channel.com reports. The firm owned 1,245,449 shares of the information technology services provider’s stock after acquiring an additional 51,638 shares during the period. Northern Trust Corp’s holdings in Gartner were worth $200,444,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the stock. Natixis Advisors L.P. grew its position in Gartner by 8.5% in the second quarter. Natixis Advisors L.P. now owns 32,171 shares of the information technology services provider’s stock worth $5,178,000 after acquiring an additional 2,527 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Gartner by 10.8% in the 2nd quarter. Pacer Advisors Inc. now owns 8,644 shares of the information technology services provider’s stock worth $1,391,000 after purchasing an additional 846 shares during the period. Polen Capital Management LLC boosted its holdings in shares of Gartner by 3.2% in the 2nd quarter. Polen Capital Management LLC now owns 4,954,947 shares of the information technology services provider’s stock worth $797,449,000 after purchasing an additional 154,604 shares during the period. Progressive Investment Management Corp bought a new position in shares of Gartner during the 2nd quarter valued at approximately $4,747,000. Finally, Cetera Advisor Networks LLC increased its position in shares of Gartner by 13.2% during the 2nd quarter. Cetera Advisor Networks LLC now owns 1,998 shares of the information technology services provider’s stock valued at $322,000 after purchasing an additional 233 shares during the last quarter. 95.98% of the stock is currently owned by institutional investors.
In other Gartner news, Director Anne Sutherland Fuchs sold 1,828 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $136.75, for a total value of $249,979.00. Following the transaction, the director now directly owns 27,237 shares in the company, valued at approximately $3,724,659.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alwyn Dawkins sold 771 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $129.52, for a total transaction of $99,859.92. Following the transaction, the executive vice president now directly owns 34,235 shares in the company, valued at $4,434,117.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,499 shares of company stock worth $601,805. Insiders own 4.00% of the company’s stock.
A number of analysts recently issued reports on IT shares. BMO Capital Markets lowered their price target on Gartner to $142.00 and set a “market perform” rating for the company in a research report on Wednesday, July 31st. ValuEngine upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Finally, Morgan Stanley reduced their target price 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. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Gartner has a consensus rating of “Hold” and an average target price of $151.67.
Shares of NYSE IT traded up $1.01 during midday trading on Wednesday, hitting $135.65. The company’s stock had a trading volume of 10,896 shares, compared to its average volume of 395,262. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 2.93. The business’s 50 day moving average is $137.63 and its two-hundred day moving average is $150.90. Gartner Inc has a 12-month low of $120.89 and a 12-month high of $171.77. The firm has a market cap of $12.34 billion, a P/E ratio of 35.83, a price-to-earnings-growth ratio of 2.99 and a beta of 1.23.
Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $1.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.27. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Gartner had a return on equity of 41.29% and a net margin of 5.43%. Gartner’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 EPS. On average, analysts predict that Gartner Inc will post 3.51 earnings per share for the current fiscal year.
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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