OLD Dominion Capital Management Inc. held its stake in shares of Gartner, Inc. (NYSE:IT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,503 shares of the information technology services provider’s stock at the end of the second quarter. Gartner accounts for approximately 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 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in IT. TimesSquare Capital Management LLC boosted its stake in Gartner by 10.8% in the first quarter. TimesSquare Capital Management LLC now owns 2,208,950 shares of the information technology services provider’s stock worth $238,545,000 after buying an additional 215,550 shares during the period. Principal Financial Group Inc. boosted its stake in Gartner by 1.4% in the first quarter. Principal Financial Group Inc. now owns 337,570 shares of the information technology services provider’s stock worth $36,455,000 after buying an additional 4,645 shares during the period. Caldera Capital LLC acquired a new stake in Gartner during the first quarter worth approximately $11,282,000. State of Alaska Department of Revenue boosted its stake in Gartner by 1.3% in the second quarter. State of Alaska Department of Revenue now owns 3,832 shares of the information technology services provider’s stock worth $473,000 after buying an additional 50 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Gartner by 1.3% in the first quarter. Wellington Management Group LLP now owns 1,220,878 shares of the information technology services provider’s stock worth $131,841,000 after buying an additional 15,973 shares during the period. 87.01% of the stock is currently owned by institutional investors.
Gartner, Inc. (NYSE IT) opened at 117.11 on Friday. The stock has a market capitalization of $10.61 billion, a price-to-earnings ratio of 240.47 and a beta of 1.05. The firm has a 50-day moving average of $125.75 and a 200-day moving average of $113.99. Gartner, Inc. has a 1-year low of $84.54 and a 1-year high of $130.02.
Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, August 8th. The information technology services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.83 by $0.05. The business had revenue of $843.73 million for the quarter, compared to analyst estimates of $892.64 million. Gartner had a net margin of 1.50% and a return on equity of 103.10%. The company’s quarterly revenue was up 38.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 earnings per share. Equities research analysts anticipate that Gartner, Inc. will post $3.42 EPS for the current year.
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A number of equities research analysts have recently commented on IT shares. BidaskClub cut Gartner from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Credit Suisse Group restated an “outperform” rating and set a $138.00 target price (up from $130.00) on shares of Gartner in a research report on Wednesday. Morgan Stanley raised their target price on Gartner from $106.00 to $112.00 and gave the company an “equal weight” rating in a research report on Monday, May 8th. BMO Capital Markets raised their target price on Gartner from $110.00 to $128.00 and gave the company an “outperform” rating in a research report on Monday, May 1st. Finally, Zacks Investment Research lowered shares of Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $126.44.
In other news, SVP Alwyn Dawkins sold 1,400 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $116.05, for a total value of $162,470.00. Following the sale, the senior vice president now directly owns 29,085 shares in the company, valued at $3,375,314.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Peter Sondergaard sold 4,172 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 93,765 shares in the company, valued at $10,492,303.50. The disclosure for this sale can be found here. Insiders sold 49,297 shares of company stock worth $5,793,254 over the last quarter. Company insiders own 4.40% of the company’s stock.
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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