Gartner Inc (IT) Holdings Reduced by Bank of America Corp DE
Bank of America Corp DE lowered its holdings in Gartner Inc (NYSE:IT) by 60.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 441,587 shares of the information technology services provider’s stock after selling 665,533 shares during the quarter. Bank of America Corp DE owned about 0.49% of Gartner worth $56,452,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of IT. Lunia Capital LP boosted its stake in Gartner by 19,665.1% in the fourth quarter. Lunia Capital LP now owns 16,641,445 shares of the information technology services provider’s stock worth $16,641,000 after purchasing an additional 16,557,249 shares in the last quarter. BlackRock Inc. boosted its stake in Gartner by 5.6% in the fourth quarter. BlackRock Inc. now owns 6,264,009 shares of the information technology services provider’s stock worth $800,789,000 after purchasing an additional 331,238 shares in the last quarter. Morgan Stanley boosted its stake in Gartner by 343.2% in the third quarter. Morgan Stanley now owns 373,397 shares of the information technology services provider’s stock worth $59,183,000 after purchasing an additional 289,143 shares in the last quarter. Federated Investors Inc. PA boosted its stake in Gartner by 22,249.7% in the third quarter. Federated Investors Inc. PA now owns 256,575 shares of the information technology services provider’s stock worth $40,667,000 after purchasing an additional 255,427 shares in the last quarter. Finally, KAMES CAPITAL plc acquired a new position in Gartner in the fourth quarter worth $26,003,000. 99.16% of the stock is currently owned by institutional investors.
In other Gartner news, EVP Alwyn Dawkins sold 1,909 shares of the stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $142.01, for a total value of $271,097.09. Following the transaction, the executive vice president now owns 35,822 shares of the company’s stock, valued at $5,087,082.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Craig Safian sold 3,635 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $140.64, for a total value of $511,226.40. Following the completion of the transaction, the chief financial officer now directly owns 33,008 shares in the company, valued at approximately $4,642,245.12. The disclosure for this sale can be found here. Insiders have sold 113,234 shares of company stock worth $16,211,414 in the last ninety days. 4.00% of the stock is currently owned by insiders.
Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, February 5th. The information technology services provider reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.05). Gartner had a net margin of 3.08% and a return on equity of 37.74%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the company earned $1.17 EPS. The company’s revenue was up 7.3% compared to the same quarter last year. Research analysts anticipate that Gartner Inc will post 3.97 EPS for the current fiscal year.
IT has been the topic of a number of recent analyst reports. Morgan Stanley reduced their price objective on Gartner from $144.00 to $134.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 8th. BMO Capital Markets lowered Gartner from an “outperform” rating to a “market perform” rating and set a $139.30 price target on the stock. in a research note on Wednesday, February 6th. Bank of America reaffirmed a “buy” rating and set a $150.00 price target on shares of Gartner in a research note on Wednesday, February 6th. Cantor Fitzgerald lowered Gartner from an “overweight” rating to a “neutral” rating in a research note on Wednesday, February 6th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $156.00 price target on shares of Gartner in a research note on Wednesday, February 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Gartner currently has a consensus rating of “Hold” and a consensus target price of $142.81.
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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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