Gartner, Inc. (IT) Stake Cut by Bank of New York Mellon Corp
Bank of New York Mellon Corp lowered its position in Gartner, Inc. (NYSE:IT) by 21.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 758,843 shares of the information technology services provider’s stock after selling 211,613 shares during the period. Bank of New York Mellon Corp owned 0.84% of Gartner worth $93,725,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Gartner during the second quarter worth approximately $124,000. Global X Management Co. LLC raised its stake in shares of 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 worth $186,000 after buying an additional 414 shares during the period. 1st Global Advisors Inc. acquired a new stake in shares of Gartner during the first quarter worth approximately $204,000. Creative Planning raised its stake in shares of Gartner by 35.8% in the first quarter. Creative Planning now owns 1,927 shares of the information technology services provider’s stock worth $208,000 after buying an additional 508 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its stake in shares of Gartner by 7.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,203 shares of the information technology services provider’s stock worth $222,000 after buying an additional 145 shares during the period. Institutional investors and hedge funds own 87.56% of the company’s stock.
Shares of Gartner, Inc. (IT) opened at 118.75 on Friday. The company has a market capitalization of $10.76 billion, a price-to-earnings ratio of 243.84 and a beta of 1.05. The firm has a 50 day moving average price of $124.10 and a 200 day moving average price of $115.45. Gartner, Inc. has a 52 week low of $84.54 and a 52 week high of $130.02.
Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.05. The firm had revenue of $843.73 million for the quarter, compared to analyst estimates of $892.64 million. Gartner had a net margin of 1.50% and a return on equity of 103.10%. The business’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 earnings per share. Equities analysts forecast that Gartner, Inc. will post $3.41 EPS for the current year.
A number of brokerages recently commented on IT. BidaskClub lowered Gartner from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research lowered Gartner from a “buy” rating to a “hold” rating in a report on Friday, August 11th. TheStreet lowered Gartner from a “b” rating to a “c+” rating in a report on Tuesday, August 8th. Credit Suisse Group reiterated an “outperform” rating and set a $138.00 price target (up from $130.00) on shares of Gartner in a report on Wednesday, August 9th. Finally, Morgan Stanley lifted their price target on Gartner from $106.00 to $112.00 and gave the stock an “equal weight” rating in a report on Monday, May 8th. Five 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 stock. The company presently has an average rating of “Buy” and a consensus target price of $129.25.
In other Gartner news, Director Karen E. Dykstra sold 2,500 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $120.61, for a total value of $301,525.00. Following the sale, the director now directly owns 18,223 shares of the company’s stock, valued at $2,197,876.03. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Anne Sutherland Fuchs sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $117.02, for a total transaction of $585,100.00. Following the completion of the sale, the director now directly owns 29,895 shares in the company, valued at $3,498,312.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,601 shares of company stock worth $6,327,825. 4.40% of the stock is owned by corporate insiders.
Gartner Company Profile
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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