Mutual of America Capital Management LLC Boosts Holdings in Gartner, Inc. (NYSE:IT)

Mutual of America Capital Management LLC increased its holdings in Gartner, Inc. (NYSE:ITGet Rating) by 1.0% during the first quarter, Holdings Channel reports. The firm owned 10,977 shares of the information technology services provider’s stock after acquiring an additional 114 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Gartner were worth $3,265,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. CVA Family Office LLC lifted its holdings in Gartner by 25.0% in the 1st quarter. CVA Family Office LLC now owns 175 shares of the information technology services provider’s stock worth $52,000 after purchasing an additional 35 shares in the last quarter. Allworth Financial LP increased its stake in Gartner by 39.3% in the 1st quarter. Allworth Financial LP now owns 124 shares of the information technology services provider’s stock worth $37,000 after acquiring an additional 35 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Gartner by 0.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 5,000 shares of the information technology services provider’s stock worth $1,487,000 after acquiring an additional 38 shares during the last quarter. Veriti Management LLC increased its stake in Gartner by 1.7% in the 1st quarter. Veriti Management LLC now owns 2,371 shares of the information technology services provider’s stock worth $705,000 after acquiring an additional 39 shares during the last quarter. Finally, Fieldpoint Private Securities LLC increased its stake in Gartner by 6.2% in the 1st quarter. Fieldpoint Private Securities LLC now owns 724 shares of the information technology services provider’s stock worth $215,000 after acquiring an additional 42 shares during the last quarter. 92.05% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Gartner news, EVP Jules Kaufman sold 4,541 shares of the company’s stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $271.27, for a total value of $1,231,837.07. Following the completion of the sale, the executive vice president now directly owns 4,641 shares in the company, valued at approximately $1,258,964.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Jules Kaufman sold 4,541 shares of the company’s stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $271.27, for a total transaction of $1,231,837.07. Following the completion of the sale, the executive vice president now directly owns 4,641 shares in the company, valued at approximately $1,258,964.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anne Sutherland Fuchs sold 224 shares of the company’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $266.71, for a total value of $59,743.04. Following the sale, the director now owns 19,455 shares of the company’s stock, valued at $5,188,843.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,586 shares of company stock worth $1,756,421. 3.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Barclays reduced their price objective on Gartner from $325.00 to $265.00 and set an “equal weight” rating on the stock in a research note on Friday, July 1st. StockNews.com assumed coverage on Gartner in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Wells Fargo & Company initiated coverage on Gartner in a research note on Tuesday, July 12th. They issued an “overweight” rating and a $305.00 price objective on the stock. Morgan Stanley cut their target price on Gartner from $300.00 to $274.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 19th. Finally, TheStreet downgraded Gartner from a “b” rating to a “c+” rating in a research report on Tuesday, May 3rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $304.00.

Gartner Price Performance

IT opened at $260.85 on Thursday. The business has a fifty day moving average of $247.63 and a 200 day moving average of $272.43. Gartner, Inc. has a 52-week low of $221.39 and a 52-week high of $368.99. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 20.79. The stock has a market cap of $21.01 billion, a P/E ratio of 27.54 and a beta of 1.47.

Gartner (NYSE:ITGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The information technology services provider reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.44. Gartner had a return on equity of 239.82% and a net margin of 16.39%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the business earned $2.00 EPS. Gartner’s revenue was up 14.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Gartner, Inc. will post 8.14 EPS for the current year.

Gartner declared that its Board of Directors has initiated a stock buyback plan on Tuesday, May 3rd that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 2.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

About Gartner

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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.

Further Reading

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