Bamco Inc. NY Reduces Position in Gartner, Inc. (NYSE:IT)

Bamco Inc. NY reduced its position in shares of Gartner, Inc. (NYSE:IT) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,022,384 shares of the information technology services provider’s stock after selling 161,535 shares during the quarter. Gartner comprises 5.4% of Bamco Inc. NY’s portfolio, making the stock its 3rd largest holding. Bamco Inc. NY owned about 5.22% of Gartner worth $2,038,383,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. raised its holdings in shares of Gartner by 20.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 593 shares of the information technology services provider’s stock worth $283,000 after purchasing an additional 102 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Gartner by 245.0% in the first quarter. Cetera Investment Advisers now owns 21,453 shares of the information technology services provider’s stock valued at $10,226,000 after buying an additional 15,235 shares in the last quarter. Cetera Advisors LLC lifted its holdings in shares of Gartner by 81.0% during the first quarter. Cetera Advisors LLC now owns 5,426 shares of the information technology services provider’s stock valued at $2,586,000 after purchasing an additional 2,428 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Gartner by 16.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 275 shares of the information technology services provider’s stock valued at $131,000 after purchasing an additional 38 shares during the period. Finally, Transcend Capital Advisors LLC purchased a new position in Gartner in the 2nd quarter worth about $512,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Gartner

In other news, EVP Akhil Jain sold 500 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $492.00, for a total transaction of $246,000.00. Following the completion of the sale, the executive vice president now owns 4,339 shares in the company, valued at approximately $2,134,788. This represents a 10.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James C. Smith sold 2,128 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $500.15, for a total value of $1,064,319.20. Following the completion of the transaction, the director now directly owns 572,090 shares in the company, valued at $286,130,813.50. The trade was a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,149 shares of company stock worth $37,694,911 in the last 90 days. 3.60% of the stock is owned by insiders.

Gartner Stock Performance

Shares of NYSE IT opened at $517.93 on Monday. Gartner, Inc. has a one year low of $411.15 and a one year high of $559.00. The business’s 50-day moving average price is $521.01 and its two-hundred day moving average price is $484.28. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $39.95 billion, a P/E ratio of 38.20, a price-to-earnings-growth ratio of 3.24 and a beta of 1.32.

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 the consensus estimate of $2.45 by $0.05. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.56 EPS. Analysts anticipate that Gartner, Inc. will post 11.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Morgan Stanley increased their target price on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Robert W. Baird lifted their price target on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Wells Fargo & Company increased their price objective on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Finally, Barclays lifted their target price on Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $539.25.

Gartner Company Profile

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.