Shelton Capital Management bought a new position in shares of Gartner, Inc. (NYSE:IT – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,808 shares of the information technology services provider’s stock, valued at approximately $2,385,000.
Other institutional investors have also made changes to their positions in the company. Arlington Partners LLC increased its holdings in shares of Gartner by 275.0% during the 2nd 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 during the last quarter. Resurgent Financial Advisors LLC acquired a new position in shares of Gartner during the 4th quarter worth approximately $29,000. Venturi Wealth Management LLC acquired a new position in shares of Gartner during the 1st quarter worth approximately $35,000. Cullen Frost Bankers Inc. increased its holdings in shares of Gartner by 268.8% during the 1st 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 during the last quarter. Finally, Carolinas Wealth Consulting LLC acquired a new position in shares of Gartner during the 1st quarter worth approximately $39,000. 90.28% of the stock is owned by institutional investors and hedge funds.
In related news, 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 transaction of $40,056.00. Following the completion of the sale, the executive vice president now owns 3,311 shares of the company’s stock, valued at $1,326,254.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Gartner news, SVP William James Wartinbee III sold 416 shares of the stock in a transaction that occurred on 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 owns 6,641 shares in the company, valued at $2,676,920.69. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Akhil Jain sold 100 shares of the 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 completion of the transaction, the executive vice president now owns 3,311 shares in the company, 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.
Gartner Price Performance
Gartner (NYSE:IT – Get Free Report) last issued its earnings results on Friday, November 3rd. The information technology services provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.60. Gartner had a return on equity of 206.71% and a net margin of 15.97%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the prior year, the firm earned $2.41 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, sell-side analysts forecast that Gartner, Inc. will post 11.03 EPS for the current fiscal year.
Gartner declared that its board has authorized a share buyback plan on Friday, November 3rd that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Wall Street Analysts Forecast Growth
IT has been the topic of a number of research reports. BMO Capital Markets decreased their price objective on Gartner from $352.00 to $346.00 in a report on Thursday, August 3rd. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a report on Monday, November 6th. Finally, Morgan Stanley upped their price objective on Gartner from $366.00 to $372.00 and gave the company an “equal weight” rating in a report on Wednesday, August 2nd. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Gartner currently has a consensus rating of “Hold” and a consensus target price of $363.20.
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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