Dimensional Fund Advisors LP Buys 5,272 Shares of Gartner, Inc. (IT)
Dimensional Fund Advisors LP increased its position in shares of Gartner, Inc. (NYSE:IT) by 2.7% during the first quarter, Holdings Channel reports. The fund owned 198,368 shares of the information technology services provider’s stock after buying an additional 5,272 shares during the period. Dimensional Fund Advisors LP’s holdings in Gartner were worth $21,423,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Global X Management Co. LLC boosted its position in shares of Gartner by 31.6% in the first quarter. Global X Management Co. LLC now owns 1,725 shares of the information technology services provider’s stock worth $186,000 after buying an additional 414 shares during the last quarter. 1st Global Advisors Inc. acquired a new stake in Gartner during the first quarter worth approximately $204,000. Raymond James Trust N.A. acquired a new stake in Gartner during the first quarter worth approximately $208,000. Creative Planning raised its stake in Gartner by 35.8% in the first quarter. Creative Planning now owns 1,927 shares of the information technology services provider’s stock worth $208,000 after buying an additional 508 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its stake in Gartner by 7.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,203 shares of the information technology services provider’s stock worth $222,000 after buying an additional 145 shares during the last quarter. Institutional investors and hedge funds own 87.01% of the company’s stock.
Gartner, Inc. (NYSE IT) opened at 119.73 on Thursday. The company’s 50-day moving average price is $125.93 and its 200 day moving average price is $113.97. Gartner, Inc. has a 52-week low of $84.54 and a 52-week high of $130.02. The stock has a market capitalization of $10.85 billion, a P/E ratio of 245.85 and a beta of 1.05.
Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, August 8th. The information technology services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.05. The company had revenue of $843.73 million for the quarter, compared to the consensus estimate of $892.64 million. Gartner had a return on equity of 508.22% and a net margin of 1.50%. The firm’s revenue for the quarter was up 38.3% compared to the same quarter last year. During the same period last year, the firm earned $0.75 EPS. On average, equities research analysts predict that Gartner, Inc. will post $3.44 earnings per share for the current fiscal year.
A number of analysts have commented on IT shares. BidaskClub lowered Gartner from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Credit Suisse Group reissued an “outperform” rating and issued a $138.00 target price (up previously from $130.00) on shares of Gartner in a report on Wednesday. Morgan Stanley lifted their target price on Gartner from $106.00 to $112.00 and gave the stock an “equal weight” rating in a report on Monday, May 8th. BMO Capital Markets lifted their target price on Gartner from $110.00 to $128.00 and gave the stock an “outperform” rating in a report on Monday, May 1st. Finally, Zacks Investment Research lowered Gartner from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $126.44.
In other news, SVP Alwyn Dawkins sold 1,400 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $116.05, for a total transaction of $162,470.00. Following the sale, the senior vice president now directly owns 29,085 shares in the company, valued at approximately $3,375,314.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eugene A. Hall sold 38,800 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $117.86, for a total value of $4,572,968.00. Following the sale, the chief executive officer now owns 1,304,375 shares in the company, valued at $153,733,637.50. The disclosure for this sale can be found here. Insiders have sold a total of 49,297 shares of company stock worth $5,793,254 over the last ninety days. 4.40% of the stock is owned by insiders.
Gartner, Inc is an information technology research and advisory company. The Company works with clients to research, analyze and interpret the business of information technology (IT), supply chain and marketing within the context of their individual roles. It operates in three segments: Research, Consulting and Events.
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