Sumitomo Mitsui Trust Holdings Inc. decreased its position in shares of Gartner Inc (NYSE:IT) by 32.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 383,888 shares of the information technology services provider’s stock after selling 181,664 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.43% of Gartner worth $46,577,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. grew its holdings in Gartner by 339.7% during the first quarter. Cornerstone Advisors Inc. now owns 255 shares of the information technology services provider’s stock worth $25,000 after buying an additional 197 shares in the last quarter. Ellevest Inc. grew its holdings in Gartner by 54.5% during the first quarter. Ellevest Inc. now owns 275 shares of the information technology services provider’s stock worth $27,000 after buying an additional 97 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in Gartner during the fourth quarter worth $12,251,000. Advisors Asset Management Inc. grew its holdings in Gartner by 48.1% during the fourth quarter. Advisors Asset Management Inc. now owns 351 shares of the information technology services provider’s stock worth $54,000 after buying an additional 114 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Gartner by 140.8% during the fourth quarter. Quadrant Capital Group LLC now owns 354 shares of the information technology services provider’s stock worth $49,000 after buying an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.
In other Gartner news, EVP Robin B. Kranich sold 2,599 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $118.24, for a total value of $307,305.76. Following the completion of the transaction, the executive vice president now owns 10,806 shares in the company, valued at approximately $1,277,701.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.00% of the stock is owned by corporate insiders.
Shares of NYSE:IT opened at $124.64 on Friday. The company has a market capitalization of $11.11 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 4.06 and a beta of 1.47. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.70 and a quick ratio of 0.70. The business has a fifty day moving average price of $121.26 and a two-hundred day moving average price of $124.66. Gartner Inc has a 1 year low of $76.91 and a 1 year high of $165.26.
Gartner (NYSE:IT) last announced its quarterly earnings data on Thursday, May 7th. The information technology services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.88. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Gartner had a return on equity of 44.23% and a net margin of 6.70%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 EPS. Sell-side analysts anticipate that Gartner Inc will post 3.07 earnings per share for the current year.
Several brokerages recently issued reports on IT. BMO Capital Markets upped their price target on Gartner from $100.00 to $122.00 and gave the stock a “market perform” rating in a report on Monday, May 11th. Morgan Stanley decreased their price target on Gartner from $140.00 to $130.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $124.60.
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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