Envestnet Asset Management Inc. Has $7.38 Million Stake in Gartner Inc (IT)
Envestnet Asset Management Inc. trimmed its holdings in Gartner Inc (NYSE:IT) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,533 shares of the information technology services provider’s stock after selling 1,110 shares during the period. Envestnet Asset Management Inc. owned 0.06% of Gartner worth $7,380,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Piedmont Investment Advisors LLC acquired a new stake in shares of Gartner in the second quarter valued at approximately $137,000. Federated Investors Inc. PA acquired a new stake in shares of Gartner in the second quarter valued at approximately $153,000. Conning Inc. acquired a new stake in shares of Gartner in the second quarter valued at approximately $205,000. Dakota Wealth Management acquired a new stake in shares of Gartner in the second quarter valued at approximately $211,000. Finally, Visionary Asset Management Inc. acquired a new stake in shares of Gartner in the second quarter valued at approximately $216,000. Institutional investors own 96.80% of the company’s stock.
A number of equities research analysts have recently weighed in on IT shares. Barclays reiterated a “buy” rating and issued a $155.00 price target on shares of Gartner in a research report on Sunday, August 12th. ValuEngine downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Piper Jaffray Companies reiterated a “hold” rating and issued a $116.00 price target on shares of Gartner in a research report on Thursday, August 2nd. Morgan Stanley lifted their price target on shares of Gartner from $140.00 to $142.00 and gave the company an “equal weight” rating in a research report on Thursday, August 2nd. Finally, TheStreet upgraded shares of Gartner from a “c” rating to a “b” rating in a research report on Wednesday, August 1st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Gartner currently has a consensus rating of “Buy” and an average target price of $143.09.
Shares of IT opened at $152.39 on Friday. Gartner Inc has a one year low of $111.57 and a one year high of $154.20. The company has a market cap of $13.95 billion, a price-to-earnings ratio of 46.04, a PEG ratio of 2.83 and a beta of 1.19. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.64 and a quick ratio of 0.64.
Gartner (NYSE:IT) last announced its quarterly earnings data on Wednesday, August 1st. The information technology services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.96 by $0.07. Gartner had a net margin of 2.25% and a return on equity of 35.04%. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $985.98 million. During the same period in the previous year, the business earned $0.88 earnings per share. The company’s revenue was up 18.7% on a year-over-year basis. sell-side analysts anticipate that Gartner Inc will post 3.74 earnings per share for the current fiscal year.
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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