Gartner Inc (IT) Holdings Trimmed by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in shares of Gartner Inc (NYSE:IT) by 19.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,027 shares of the information technology services provider’s stock after selling 20,314 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Gartner were worth $10,002,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of IT. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Gartner by 2.8% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 204,071 shares of the information technology services provider’s stock worth $24,003,000 after purchasing an additional 5,505 shares in the last quarter. Allen Investment Management LLC grew its holdings in shares of Gartner by 400.1% during the first quarter. Allen Investment Management LLC now owns 8,662 shares of the information technology services provider’s stock worth $1,019,000 after purchasing an additional 6,930 shares in the last quarter. Allianz Asset Management GmbH purchased a new position in shares of Gartner during the first quarter worth about $207,000. Rampart Investment Management Company LLC grew its holdings in shares of Gartner by 44.6% during the first quarter. Rampart Investment Management Company LLC now owns 1,808 shares of the information technology services provider’s stock worth $213,000 after purchasing an additional 558 shares in the last quarter. Finally, Premia Global Advisors LLC grew its holdings in shares of Gartner by 27.5% during the first quarter. Premia Global Advisors LLC now owns 2,402 shares of the information technology services provider’s stock worth $282,000 after purchasing an additional 518 shares in the last quarter. 96.80% of the stock is owned by institutional investors and hedge funds.

NYSE:IT opened at $133.55 on Friday. The company has a market capitalization of $11.94 billion, a P/E ratio of 40.35, a PEG ratio of 2.41 and a beta of 1.16. Gartner Inc has a 1-year low of $111.57 and a 1-year high of $142.16. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 2.21.

Gartner (NYSE:IT) last released its earnings results on Tuesday, May 8th. The information technology services provider reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.14. The company had revenue of $964.00 million during the quarter, compared to the consensus estimate of $921.22 million. Gartner had a positive return on equity of 33.99% and a negative net margin of 1.45%. Gartner’s quarterly revenue was up 54.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS. equities analysts forecast that Gartner Inc will post 3.74 EPS for the current fiscal year.

In related news, EVP Robin B. Kranich sold 4,874 shares of the business’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $134.89, for a total value of $657,453.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alwyn Dawkins sold 800 shares of the business’s stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $138.00, for a total value of $110,400.00. Following the completion of the sale, the executive vice president now owns 29,880 shares of the company’s stock, valued at approximately $4,123,440. The disclosure for this sale can be found here. Insiders sold a total of 14,352 shares of company stock valued at $1,943,685 in the last 90 days. 4.30% of the stock is currently owned by corporate insiders.

IT has been the subject of several recent analyst reports. TheStreet raised Gartner from a “c+” rating to a “b-” rating in a report on Thursday, March 15th. Royal Bank of Canada reissued a “buy” rating and set a $139.00 price objective on shares of Gartner in a report on Monday, April 9th. They noted that the move was a valuation call. ValuEngine raised Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, May 9th. Morgan Stanley boosted their price objective on Gartner from $127.00 to $133.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 9th. Finally, Zacks Investment Research raised Gartner from a “sell” rating to a “hold” rating in a report on Tuesday, March 20th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Gartner currently has an average rating of “Buy” and a consensus target price of $141.40.

Gartner Profile

Gartner, Inc operates as a research and advisory company. It operates through four segments: Research, Consulting, Events, and Talent Assessment & Other. The Research segment offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through research and other reports, briefings, proprietary tools, access to our analysts, peer networking services, and membership programs that enable clients to make better decisions; and practice and talent management research insights in various business functions, such as human resources, sales, legal, and finance.

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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