AGF Management Ltd. Has $3.72 Million Stock Position in Gartner, Inc. (NYSE:IT)

AGF Management Ltd. boosted its stake in Gartner, Inc. (NYSE:IT) by 5.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,629 shares of the information technology services provider’s stock after purchasing an additional 524 shares during the quarter. AGF Management Ltd.’s holdings in Gartner were worth $3,723,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Gartner by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 9,198,161 shares of the information technology services provider’s stock valued at $2,736,085,000 after buying an additional 102,709 shares during the period. BlackRock Inc. increased its stake in Gartner by 2.6% in the first quarter. BlackRock Inc. now owns 6,394,140 shares of the information technology services provider’s stock valued at $2,083,019,000 after acquiring an additional 165,046 shares during the last quarter. FMR LLC raised its position in Gartner by 3.3% during the first quarter. FMR LLC now owns 3,593,426 shares of the information technology services provider’s stock valued at $1,170,630,000 after purchasing an additional 113,978 shares in the last quarter. State Street Corp lifted its stake in Gartner by 2.3% during the first quarter. State Street Corp now owns 3,072,139 shares of the information technology services provider’s stock worth $1,000,811,000 after purchasing an additional 69,116 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Gartner by 271.1% during the fourth quarter. Morgan Stanley now owns 2,151,011 shares of the information technology services provider’s stock worth $723,041,000 after purchasing an additional 1,571,413 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Gartner Trading Down 1.0 %

Shares of NYSE IT opened at $417.78 on Thursday. The firm has a 50 day moving average price of $358.30 and a two-hundred day moving average price of $346.80. The stock has a market cap of $32.57 billion, a P/E ratio of 35.92, a price-to-earnings-growth ratio of 5.93 and a beta of 1.24. Gartner, Inc. has a 52-week low of $292.60 and a 52-week high of $425.96. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.86 and a current ratio of 0.86.

Gartner (NYSE:IT) last posted its quarterly earnings data on Friday, November 3rd. The information technology services provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.60. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.39 billion. Gartner had a return on equity of 206.71% and a net margin of 15.97%. Gartner’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.41 earnings per share. As a group, equities analysts forecast that Gartner, Inc. will post 11.03 EPS for the current year.

Gartner announced that its board has authorized a stock repurchase plan on Friday, November 3rd that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, EVP Akhil Jain sold 100 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $400.56, for a total value of $40,056.00. Following the sale, the executive vice president now directly owns 3,311 shares in the company, valued at $1,326,254.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP William James Wartinbee III sold 416 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $403.09, for a total value of $167,685.44. Following the transaction, the senior vice president now directly owns 6,641 shares of the company’s stock, valued at approximately $2,676,920.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Akhil Jain sold 100 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $400.56, for a total value of $40,056.00. Following the sale, the executive vice president now directly owns 3,311 shares of the company’s stock, valued at approximately $1,326,254.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,415 shares of company stock valued at $35,288,340. Company insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on IT. BMO Capital Markets lowered their price target on Gartner from $352.00 to $346.00 in a report on Thursday, August 3rd. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. Finally, Morgan Stanley increased their target price on shares of Gartner from $366.00 to $372.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 2nd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $363.20.

Gartner Profile

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.