Banque Cantonale Vaudoise increased its stake in shares of Gartner, Inc. (NYSE:IT – Free Report) by 144.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,200 shares of the information technology services provider’s stock after purchasing an additional 1,300 shares during the period. Banque Cantonale Vaudoise’s holdings in Gartner were worth $771,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Arlington Partners LLC lifted its holdings in Gartner by 275.0% during the second quarter. Arlington Partners LLC now owns 75 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Resurgent Financial Advisors LLC bought a new position in Gartner during the fourth quarter worth about $29,000. Venturi Wealth Management LLC bought a new position in Gartner during the first quarter worth about $35,000. Cullen Frost Bankers Inc. lifted its holdings in Gartner by 268.8% during the first quarter. Cullen Frost Bankers Inc. now owns 118 shares of the information technology services provider’s stock worth $38,000 after acquiring an additional 86 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC bought a new position in Gartner during the first quarter worth about $39,000. 90.28% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on IT. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a report on Monday, November 6th. Morgan Stanley boosted their price target on Gartner from $366.00 to $372.00 and gave the company an “equal weight” rating in a report on Wednesday, August 2nd. Finally, BMO Capital Markets cut their price target on Gartner from $352.00 to $346.00 in a report on Thursday, August 3rd. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $363.20.
Insiders Place Their Bets
In other Gartner news, EVP Michael Patrick Diliberto sold 7,938 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $335.09, for a total transaction of $2,659,944.42. Following the transaction, the executive vice president now owns 18,501 shares of the company’s stock, valued at $6,199,500.09. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Michael Patrick Diliberto sold 7,938 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $335.09, for a total value of $2,659,944.42. Following the transaction, the executive vice president now owns 18,501 shares of the company’s stock, valued at $6,199,500.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William James Wartinbee III sold 416 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $403.09, for a total value of $167,685.44. Following the completion of the transaction, the senior vice president now directly owns 6,641 shares in the company, valued at approximately $2,676,920.69. The disclosure for this sale can be found here. Insiders have sold a total of 91,415 shares of company stock valued at $35,288,340 over the last 90 days. 3.90% of the stock is currently owned by insiders.
Gartner Stock Performance
IT opened at $417.78 on Thursday. Gartner, Inc. has a 52-week low of $292.60 and a 52-week high of $425.96. The firm has a market capitalization of $32.57 billion, a PE ratio of 35.92, a PEG ratio of 5.93 and a beta of 1.24. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.86 and a current ratio of 0.86. The business’s 50-day simple moving average is $358.30 and its 200 day simple moving average is $346.80.
Gartner (NYSE:IT – Get Free Report) last released its earnings results on Friday, November 3rd. The information technology services provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.60. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.39 billion. Gartner had a return on equity of 206.71% and a net margin of 15.97%. Gartner’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.41 earnings per share. As a group, sell-side analysts expect that Gartner, Inc. will post 11.03 earnings per share for the current fiscal year.
Gartner announced that its Board of Directors has initiated a share buyback program on Friday, November 3rd that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
Gartner Company 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.
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