Gartner, Inc. (NYSE:IT) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS cut its stake in Gartner, Inc. (NYSE:IT) by 12.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,591 shares of the information technology services provider’s stock after selling 3,500 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Gartner were worth $11,093,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Fox Run Management L.L.C. purchased a new position in Gartner during the 3rd quarter worth approximately $230,000. RFG Advisory LLC raised its position in Gartner by 37.2% during the 4th quarter. RFG Advisory LLC now owns 1,589 shares of the information technology services provider’s stock worth $717,000 after buying an additional 431 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Gartner by 169.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 37,708 shares of the information technology services provider’s stock worth $17,010,000 after buying an additional 23,701 shares during the last quarter. Chapin Davis Inc. purchased a new position in shares of Gartner during the 4th quarter valued at approximately $960,000. Finally, Stifel Financial Corp increased its holdings in shares of Gartner by 32.6% during the 3rd quarter. Stifel Financial Corp now owns 33,817 shares of the information technology services provider’s stock valued at $11,620,000 after purchasing an additional 8,319 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Price Performance

NYSE IT traded down $9.23 on Friday, hitting $440.38. The company had a trading volume of 445,356 shares, compared to its average volume of 318,722. The company has a market capitalization of $34.34 billion, a PE ratio of 39.82, a PEG ratio of 4.11 and a beta of 1.29. The company’s fifty day moving average price is $465.07 and its 200-day moving average price is $434.48. The company has a debt-to-equity ratio of 3.60, a current ratio of 0.91 and a quick ratio of 0.91. Gartner, Inc. has a 12-month low of $292.60 and a 12-month high of $486.54.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.21. Gartner had a net margin of 14.94% and a return on equity of 156.35%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the company posted $3.70 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, analysts predict that Gartner, Inc. will post 11.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IT. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. Morgan Stanley lifted their target price on shares of Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Gartner in a report on Tuesday. They set a “hold” rating and a $507.00 target price for the company. BMO Capital Markets lifted their target price on shares of Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a report on Thursday, February 8th. Finally, UBS Group raised shares of Gartner from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $484.00 to $550.00 in a report on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $477.60.

Insiders Place Their Bets

In other Gartner news, EVP Valentin Sribar sold 682 shares of Gartner stock in a transaction on Friday, February 16th. The shares were sold at an average price of $453.00, for a total transaction of $308,946.00. Following the sale, the executive vice president now owns 12,269 shares of the company’s stock, valued at approximately $5,557,857. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $453.00, for a total transaction of $308,946.00. Following the transaction, the executive vice president now owns 12,269 shares of the company’s stock, valued at approximately $5,557,857. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James C. Smith sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $455.00, for a total transaction of $2,275,000.00. Following the transaction, the director now directly owns 638,235 shares in the company, valued at approximately $290,396,925. The disclosure for this sale can be found here. Insiders have sold a total of 22,952 shares of company stock valued at $10,598,070 in the last 90 days. 3.90% of the stock is owned by insiders.

About Gartner

Gartner, Inc operates as a research and advisory company in the United States, Canada, Europe, the Middle East, Africa, and internationally. It operates through three segments: Research, Conferences, and Consulting. The Research segment delivers its research primarily through a subscription service that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.