CNH Partners LLC Buys New Stake in Gartner, Inc. (IT)
CNH Partners LLC bought a new stake in Gartner, Inc. (NYSE:IT) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,490 shares of the information technology services provider’s stock, valued at approximately $678,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of IT. Benjamin F. Edwards & Company Inc. acquired a new position in Gartner in the second quarter valued at about $124,000. Bronfman E.L. Rothschild L.P. lifted its position in Gartner by 9.5% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,182 shares of the information technology services provider’s stock valued at $146,000 after buying an additional 103 shares during the last quarter. Commonwealth Bank of Australia lifted its position in Gartner by 20.0% in the second quarter. Commonwealth Bank of Australia now owns 1,200 shares of the information technology services provider’s stock valued at $148,000 after buying an additional 200 shares during the last quarter. Global X Management Co. LLC lifted its position in Gartner by 31.6% in the first quarter. Global X Management Co. LLC now owns 1,725 shares of the information technology services provider’s stock valued at $186,000 after buying an additional 414 shares during the last quarter. Finally, Noesis Capital Mangement Corp acquired a new position in Gartner in the second quarter valued at about $203,000. 91.95% of the stock is currently owned by institutional investors.
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A number of research firms have commented on IT. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $105.00 target price on shares of Gartner in a research report on Thursday, August 31st. Zacks Investment Research raised shares of Gartner from a “hold” rating to a “buy” rating and set a $142.00 target price on the stock in a research report on Wednesday, July 19th. BidaskClub cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. TheStreet cut shares of Gartner from a “b” rating to a “c+” rating in a research report on Tuesday, August 8th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $132.00 target price on shares of Gartner in a research report on Wednesday, October 4th. Six 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 currently has a consensus rating of “Buy” and an average target price of $126.56.
In other news, SVP Alwyn Dawkins sold 1,000 shares of Gartner stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $118.62, for a total value of $118,620.00. Following the transaction, the senior vice president now directly owns 27,137 shares of the company’s stock, valued at approximately $3,218,990.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anne Sutherland Fuchs sold 5,000 shares of Gartner stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $118.92, for a total value of $594,600.00. Following the completion of the transaction, the director now directly owns 27,395 shares in the company, valued at $3,257,813.40. The disclosure for this sale can be found here. Insiders sold a total of 23,363 shares of company stock worth $2,775,387 over the last ninety days. Corporate insiders own 4.40% of the company’s stock.
Shares of Gartner, Inc. (NYSE IT) traded up 0.07% during mid-day trading on Monday, hitting $122.48. 79,339 shares of the stock traded hands. Gartner, Inc. has a one year low of $84.54 and a one year high of $130.02. The stock has a 50 day moving average price of $122.16 and a 200-day moving average price of $119.27. The company has a market cap of $11.10 billion, a P/E ratio of 251.50 and a beta of 1.07.
Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.05. The business had revenue of $843.73 million for the quarter, compared to analyst estimates of $892.64 million. Gartner had a return on equity of 103.10% and a net margin of 1.50%. The company’s revenue was up 38.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 EPS. On average, analysts forecast that Gartner, Inc. will post $3.41 earnings per share for the current fiscal year.
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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