OLD Dominion Capital Management Inc. Maintains Stake in Gartner, Inc. (NYSE:IT)
OLD Dominion Capital Management Inc. held its position in Gartner, Inc. (NYSE:IT) during the second quarter, Holdings Channel reports. The institutional investor owned 11,503 shares of the information technology services provider’s stock at the end of the second quarter. Gartner makes up about 1.5% of OLD Dominion Capital Management Inc.’s holdings, making the stock its 12th largest position. OLD Dominion Capital Management Inc.’s holdings in Gartner were worth $1,421,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of IT. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Gartner during the second quarter worth approximately $124,000. Global X Management Co. LLC increased 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 in the last quarter. 1st Global Advisors Inc. acquired a new position in shares of Gartner during the first quarter worth approximately $204,000. Creative Planning increased its position in shares of 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 in the last quarter. Finally, Raymond James Trust N.A. acquired a new position in shares of Gartner during the first quarter worth approximately $208,000. 87.01% of the stock is currently owned by institutional investors.
Shares of Gartner, Inc. (IT) opened at 117.11 on Friday. The firm has a market capitalization of $10.61 billion, a price-to-earnings ratio of 240.47 and a beta of 1.05. Gartner, Inc. has a 12-month low of $84.54 and a 12-month high of $130.02. The company’s 50-day moving average is $125.75 and its 200-day moving average is $113.99.
Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.05. Gartner had a net margin of 1.50% and a return on equity of 103.10%. The business had revenue of $843.73 million during the quarter, compared to analysts’ expectations of $892.64 million. During the same period in the previous year, the company earned $0.75 earnings per share. Gartner’s revenue for the quarter was up 38.3% on a year-over-year basis. On average, equities analysts forecast that Gartner, Inc. will post $3.42 earnings per share for the current fiscal year.
A number of equities analysts have recently commented on the stock. TheStreet downgraded shares of Gartner from a “b” rating to a “c+” rating in a research note on Tuesday. BidaskClub downgraded shares of Gartner from a “strong-buy” rating to a “buy” rating in a research note 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 research note on Wednesday. Royal Bank Of Canada reissued a “top pick” rating and issued a $142.00 target price (up previously from $130.00) on shares of Gartner in a research note on Friday, July 21st. Finally, Zacks Investment Research raised shares of Gartner from a “hold” rating to a “buy” rating and set a $142.00 target price on the stock in a research note on Wednesday, July 19th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Gartner has a consensus rating of “Buy” and a consensus target price of $126.44.
In related news, SVP Peter Sondergaard sold 4,172 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $111.90, for a total transaction of $466,846.80. Following the transaction, the senior vice president now owns 93,765 shares of the company’s stock, valued at $10,492,303.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karen E. Dykstra sold 2,500 shares of the business’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $120.61, for a total transaction of $301,525.00. Following the transaction, the director now directly owns 18,223 shares in the company, valued at approximately $2,197,876.03. The disclosure for this sale can be found here. Insiders have sold 49,297 shares of company stock worth $5,793,254 in the last ninety days. 4.40% of the stock is currently 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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