Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Gartner Inc (NYSE:IT) by 15.6% during the fourth quarter, HoldingsChannel reports. The firm owned 17,927 shares of the information technology services provider’s stock after purchasing an additional 2,413 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Gartner were worth $2,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also added to or reduced their stakes in IT. Nomura Holdings Inc. purchased a new stake in Gartner in the 3rd quarter worth about $30,510,000. BlackRock Inc. increased its holdings in Gartner by 2.6% in the 2nd quarter. BlackRock Inc. now owns 6,337,629 shares of the information technology services provider’s stock worth $1,019,978,000 after acquiring an additional 161,750 shares during the last quarter. Anchor Capital Advisors LLC increased its holdings in Gartner by 120.0% in the 4th quarter. Anchor Capital Advisors LLC now owns 205,910 shares of the information technology services provider’s stock worth $31,731,000 after acquiring an additional 112,328 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Gartner in the 4th quarter worth about $13,864,000. Finally, California Public Employees Retirement System increased its holdings in Gartner by 26.5% in the 3rd quarter. California Public Employees Retirement System now owns 204,208 shares of the information technology services provider’s stock worth $29,200,000 after acquiring an additional 42,786 shares during the last quarter. Institutional investors own 97.22% of the company’s stock.
In other news, EVP Kendall B. Davis sold 6,262 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $154.02, for a total transaction of $964,473.24. Following the completion of the transaction, the executive vice president now owns 153,461 shares of the company’s stock, valued at $23,636,063.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Hensel sold 1,303 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $159.25, for a total value of $207,502.75. Following the transaction, the executive vice president now directly owns 2,132 shares of the company’s stock, valued at approximately $339,521. The disclosure for this sale can be found here. Insiders have sold a total of 13,409 shares of company stock valued at $2,100,794 in the last ninety days. Insiders own 4.00% of the company’s stock.
Gartner (NYSE:IT) last posted its earnings results on Tuesday, February 4th. The information technology services provider reported $1.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.36. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. Gartner had a return on equity of 38.63% and a net margin of 5.50%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 EPS. On average, equities research analysts anticipate that Gartner Inc will post 4.07 EPS for the current fiscal year.
Several equities research analysts recently weighed in on IT shares. Jefferies Financial Group started coverage on Gartner in a report on Wednesday, November 27th. They issued a “hold” rating and a $178.00 price objective for the company. Robert W. Baird lifted their price objective on Gartner from $166.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. TheStreet raised Gartner from a “c+” rating to a “b” rating in a report on Tuesday, February 4th. Barclays lowered Gartner from an “overweight” rating to an “equal weight” rating and set a $165.00 price objective for the company. in a report on Tuesday, December 17th. Finally, ValuEngine lowered Gartner from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Gartner presently has a consensus rating of “Hold” and an average price target of $160.83.
Gartner Company Profile
Gartner, Inc operates as a research and advisory company. It operates through three segments: Research, Conferences, and Consulting. 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 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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