Bowling Portfolio Management LLC Has $980,000 Stock Position in Gartner, Inc. (NYSE:IT)

Bowling Portfolio Management LLC trimmed its holdings in shares of Gartner, Inc. (NYSE:ITGet Rating) by 55.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,293 shares of the information technology services provider’s stock after selling 4,134 shares during the period. Bowling Portfolio Management LLC’s holdings in Gartner were worth $980,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of IT. Amplius Wealth Advisors LLC acquired a new position in Gartner during the fourth quarter valued at $37,000. Covestor Ltd acquired a new position in Gartner during the fourth quarter valued at $40,000. CVA Family Office LLC acquired a new position in Gartner during the fourth quarter valued at $47,000. Eagle Bay Advisors LLC raised its position in Gartner by 18.0% during the fourth quarter. Eagle Bay Advisors LLC now owns 295 shares of the information technology services provider’s stock valued at $99,000 after buying an additional 45 shares during the period. Finally, Quent Capital LLC acquired a new position in Gartner in the 4th quarter worth about $130,000. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have weighed in on the company. Bank of America raised Gartner from a “neutral” rating to a “buy” rating and set a $340.00 target price on the stock in a research report on Thursday, April 14th. Morgan Stanley decreased their target price on Gartner from $316.00 to $300.00 and set an “equal weight” rating for the company in a research note on Thursday, May 26th. BMO Capital Markets reduced their price objective on Gartner from $315.00 to $265.00 in a research report on Tuesday. StockNews.com started coverage on Gartner in a research report on Thursday, March 31st. They set a “buy” rating for the company. Finally, TheStreet downgraded Gartner from a “b” rating to a “c+” rating in a research report on Tuesday, May 3rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Gartner currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.00.

In other news, EVP Jules Kaufman sold 4,541 shares of Gartner stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $271.27, for a total value of $1,231,837.07. Following the completion of the sale, the executive vice president now directly owns 4,641 shares of the company’s stock, valued at approximately $1,258,964.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robin B. Kranich sold 1,321 shares of Gartner stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $256.95, for a total value of $339,430.95. Following the completion of the sale, the executive vice president now directly owns 9,717 shares of the company’s stock, valued at $2,496,783.15. The disclosure for this sale can be found here. Insiders have sold a total of 6,586 shares of company stock valued at $1,756,421 over the last ninety days. Insiders own 3.70% of the company’s stock.

IT stock opened at $234.14 on Thursday. The business has a fifty day moving average price of $263.37 and a 200 day moving average price of $285.48. Gartner, Inc. has a fifty-two week low of $221.39 and a fifty-two week high of $368.99. The stock has a market capitalization of $18.86 billion, a price-to-earnings ratio of 24.72 and a beta of 1.50. The company has a debt-to-equity ratio of 20.79, a current ratio of 0.70 and a quick ratio of 0.70.

Gartner (NYSE:ITGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The information technology services provider reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.44. Gartner had a return on equity of 239.82% and a net margin of 16.39%. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period last year, the firm posted $2.00 EPS. The business’s revenue was up 14.4% on a year-over-year basis. On average, equities analysts expect that Gartner, Inc. will post 8.14 earnings per share for the current fiscal year.

Gartner announced that its board has approved a stock buyback plan on Tuesday, May 3rd that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

About Gartner (Get Rating)

Gartner, Inc operates as a research and advisory company in the United States, Canada, Europe, the Middle East, Africa, and internationally. It operates through three segments: Research, Conferences, and Consulting. The Research segment delivers its research primarily through a subscription service that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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