Kornitzer Capital Management Inc. KS Has $17.56 Million Position in Gartner, Inc. (NYSE:IT)

Kornitzer Capital Management Inc. KS lifted its holdings in shares of Gartner, Inc. (NYSE:IT) by 0.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 34,652 shares of the information technology services provider’s stock after purchasing an additional 46 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Gartner were worth $17,560,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Gartner by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 8,974,760 shares of the information technology services provider’s stock worth $4,277,999,000 after purchasing an additional 60,786 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Gartner by 5.5% during the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after acquiring an additional 103,814 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Gartner by 1.3% during the first quarter. Bessemer Group Inc. now owns 609,945 shares of the information technology services provider’s stock worth $290,742,000 after acquiring an additional 7,852 shares during the last quarter. Sustainable Growth Advisers LP acquired a new position in shares of Gartner during the second quarter valued at $266,541,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Gartner by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 585,026 shares of the information technology services provider’s stock valued at $262,706,000 after acquiring an additional 56,908 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IT has been the subject of several recent research reports. Bank of America upped their target price on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday. Robert W. Baird boosted their target price on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research report on Wednesday. BMO Capital Markets increased their price target on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Finally, UBS Group boosted their price objective on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $539.25.

Gartner Stock Performance

Shares of IT traded down $2.19 during midday trading on Thursday, reaching $534.71. The stock had a trading volume of 6,081 shares, compared to its average volume of 367,101. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.80. The firm has a 50 day simple moving average of $510.44 and a 200-day simple moving average of $473.06. The firm has a market cap of $41.20 billion, a PE ratio of 51.13, a P/E/G ratio of 3.14 and a beta of 1.32. Gartner, Inc. has a one year low of $396.60 and a one year high of $542.13.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. Gartner’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.56 EPS. As a group, sell-side analysts anticipate that Gartner, Inc. will post 11.65 EPS for the current year.

Insider Buying and Selling at Gartner

In other news, CEO Eugene A. Hall sold 34,060 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total value of $17,213,924.00. Following the completion of the transaction, the chief executive officer now directly owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Gartner news, CFO Craig Safian sold 6,310 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $483.57, for a total value of $3,051,326.70. Following the completion of the sale, the chief financial officer now directly owns 71,544 shares in the company, valued at approximately $34,596,532.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eugene A. Hall sold 34,060 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total value of $17,213,924.00. Following the transaction, the chief executive officer now directly owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,899 shares of company stock valued at $24,959,886 in the last three months. Corporate insiders own 3.60% of the company’s stock.

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.