Profund Advisors LLC boosted its stake in Gartner Inc (NYSE:IT) by 30.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,524 shares of the information technology services provider’s stock after purchasing an additional 592 shares during the quarter. Profund Advisors LLC’s holdings in Gartner were worth $406,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Avestar Capital LLC increased its holdings in shares of Gartner by 1,036.8% in the first quarter. Avestar Capital LLC now owns 216 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 197 shares in the last quarter. Ibex Wealth Advisors bought a new stake in shares of Gartner in the second quarter worth about $40,000. FTB Advisors Inc. bought a new stake in shares of Gartner in the second quarter worth about $60,000. Advisory Services Network LLC increased its holdings in shares of Gartner by 98.0% in the second quarter. Advisory Services Network LLC now owns 788 shares of the information technology services provider’s stock worth $127,000 after acquiring an additional 390 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Gartner by 50.0% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the information technology services provider’s stock worth $193,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 95.99% of the company’s stock.
In other Gartner news, EVP Alwyn Dawkins sold 771 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $129.52, for a total transaction of $99,859.92. Following the transaction, the executive vice president now owns 34,235 shares in the company, valued at approximately $4,434,117.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Anne Sutherland Fuchs sold 1,828 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $136.75, for a total value of $249,979.00. Following the transaction, the director now owns 27,237 shares in the company, valued at approximately $3,724,659.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,499 shares of company stock worth $601,805. 4.00% of the stock is owned by corporate insiders.
Gartner (NYSE:IT) last announced its earnings results on Tuesday, July 30th. The information technology services provider reported $1.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.27. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Gartner had a return on equity of 41.29% and a net margin of 5.43%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 earnings per share. As a group, sell-side analysts anticipate that Gartner Inc will post 3.51 EPS for the current year.
Several research firms have recently weighed in on IT. Morgan Stanley reduced their price objective on Gartner from $156.00 to $155.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. ValuEngine raised Gartner from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Finally, BMO Capital Markets reduced their price target on Gartner to $142.00 and set a “market perform” rating for the company in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $151.67.
Gartner Company Profile
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 research and other reports, briefings, proprietary tools, access to 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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