Verition Fund Management LLC Makes New $231,000 Investment in Gartner Inc (NYSE:IT)

Verition Fund Management LLC purchased a new stake in Gartner Inc (NYSE:IT) during the second quarter, according to its most recent filing with the SEC. The firm purchased 1,902 shares of the information technology services provider’s stock, valued at approximately $231,000.

Several other large investors also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Gartner by 47.8% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 104,679 shares of the information technology services provider’s stock valued at $12,700,000 after acquiring an additional 33,844 shares during the period. Bank of America Corp DE increased its holdings in shares of Gartner by 18.6% in the 2nd quarter. Bank of America Corp DE now owns 558,615 shares of the information technology services provider’s stock valued at $67,777,000 after acquiring an additional 87,684 shares during the period. Sontag Advisory LLC increased its holdings in shares of Gartner by 34.5% in the 2nd quarter. Sontag Advisory LLC now owns 6,329 shares of the information technology services provider’s stock valued at $768,000 after acquiring an additional 1,625 shares during the period. Kore Private Wealth LLC increased its holdings in shares of Gartner by 1,700.0% in the 2nd quarter. Kore Private Wealth LLC now owns 324 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 306 shares during the period. Finally, Tudor Investment Corp Et Al increased its holdings in shares of Gartner by 130.3% in the 2nd quarter. Tudor Investment Corp Et Al now owns 17,792 shares of the information technology services provider’s stock valued at $2,159,000 after acquiring an additional 10,065 shares during the period. Institutional investors and hedge funds own 94.55% of the company’s stock.

In other Gartner news, EVP Alwyn Dawkins sold 900 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $128.54, for a total transaction of $115,686.00. Following the completion of the sale, the executive vice president now directly owns 40,204 shares in the company, valued at approximately $5,167,822.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Robin B. Kranich sold 1,004 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $130.89, for a total value of $131,413.56. Following the sale, the executive vice president now owns 8,455 shares of the company’s stock, valued at $1,106,674.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,130 shares of company stock valued at $4,365,732. 4.00% of the stock is owned by company insiders.

Shares of IT stock opened at $134.19 on Wednesday. The stock has a market cap of $11.97 billion, a PE ratio of 50.64, a price-to-earnings-growth ratio of 3.96 and a beta of 1.45. The business has a 50-day simple moving average of $129.27 and a 200-day simple moving average of $118.41. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.95. Gartner Inc has a 52-week low of $76.91 and a 52-week high of $165.26.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, August 4th. The information technology services provider reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.39. Gartner had a return on equity of 41.19% and a net margin of 5.70%. The firm had revenue of $1,000.00 million during the quarter, compared to analyst estimates of $937.39 million. During the same quarter in the previous year, the business earned $1.45 EPS. Gartner’s revenue for the quarter was down 6.6% compared to the same quarter last year. Sell-side analysts anticipate that Gartner Inc will post 3.2 earnings per share for the current fiscal year.

A number of research analysts have recently issued reports on IT shares. Morgan Stanley lifted their price target on Gartner from $130.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday, August 5th. Zacks Investment Research upgraded Gartner from a “sell” rating to a “hold” rating and set a $137.00 target price on the stock in a research note on Thursday, August 6th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $127.33.

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.

See Also: Outstanding Shares

Institutional Ownership by Quarter for Gartner (NYSE:IT)

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