Tompkins Financial Corp Purchases New Shares in Gartner, Inc. (NYSE:IT)

Posted by Kim Johansen on Feb 23rd, 2021 // Comments off

Tompkins Financial Corp purchased a new position in Gartner, Inc. (NYSE:IT) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 634 shares of the information technology services provider’s stock, valued at approximately $63,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IT. Los Angeles Capital Management LLC lifted its position in Gartner by 7,181.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 359,117 shares of the information technology services provider’s stock valued at $57,527,000 after buying an additional 354,185 shares during the period. CIBC Private Wealth Group LLC lifted its position in Gartner by 1,072.4% during the third quarter. CIBC Private Wealth Group LLC now owns 379,074 shares of the information technology services provider’s stock valued at $47,365,000 after buying an additional 346,740 shares during the period. Goodnow Investment Group LLC lifted its position in Gartner by 142.4% during the third quarter. Goodnow Investment Group LLC now owns 184,932 shares of the information technology services provider’s stock valued at $23,107,000 after buying an additional 108,625 shares during the period. JPMorgan Chase & Co. lifted its position in Gartner by 122.3% during the third quarter. JPMorgan Chase & Co. now owns 176,485 shares of the information technology services provider’s stock valued at $22,101,000 after buying an additional 97,097 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Gartner by 25.9% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 327,807 shares of the information technology services provider’s stock valued at $52,511,000 after buying an additional 67,411 shares during the period. Institutional investors and hedge funds own 92.30% of the company’s stock.

In other news, EVP Joseph P. Beck sold 4,965 shares of the company’s stock in a transaction dated Friday, February 12th. The shares were sold at an average price of $181.40, for a total transaction of $900,651.00. Following the completion of the sale, the executive vice president now owns 6,432 shares of the company’s stock, valued at approximately $1,166,764.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.00% of the stock is owned by corporate insiders.

IT has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Gartner from a “strong-buy” rating to a “hold” rating and set a $168.00 price target on the stock. in a research note on Tuesday, January 5th. The Goldman Sachs Group upped their price target on shares of Gartner from $165.00 to $183.00 and gave the stock a “buy” rating in a research note on Wednesday, December 23rd. Morgan Stanley upped their price target on shares of Gartner from $187.00 to $204.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 10th. Wells Fargo & Company upped their price target on shares of Gartner from $145.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 10th. Finally, Barclays upped their price target on shares of Gartner from $134.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 10th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Gartner presently has an average rating of “Hold” and an average target price of $168.14.

Shares of NYSE:IT opened at $184.48 on Tuesday. Gartner, Inc. has a fifty-two week low of $76.91 and a fifty-two week high of $191.66. The business has a 50-day simple moving average of $166.67 and a two-hundred day simple moving average of $146.02. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market cap of $16.47 billion, a price-to-earnings ratio of 77.51, a price-to-earnings-growth ratio of 3.04 and a beta of 1.57.

Gartner (NYSE:IT) last issued its earnings results on Monday, February 8th. The information technology services provider reported $1.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.77. Gartner had a return on equity of 41.76% and a net margin of 5.13%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the firm earned $1.18 EPS. Gartner’s revenue was down 7.5% on a year-over-year basis. As a group, research analysts predict that Gartner, Inc. will post 4.13 earnings per share for the current year.

About Gartner

Gartner, Inc operates as a research and advisory company. It operates through three segments: Research, Conferences, and Consulting. The Research segment offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through reports, briefings, proprietary tools, access to research expert, peer networking services, and membership programs that enable clients to drive organizational performance; and research and analysis in various business functions, such as human resources, sales, legal, and finance.

Tompkins Financial Corp Purchases New Shares in Gartner, Inc. (NYSE:IT)

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