Scout Investments Inc. lessened its position in shares of Gartner, Inc. (NYSE:IT – Get Rating) by 17.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 186,410 shares of the information technology services provider’s stock after selling 39,716 shares during the period. Gartner comprises 1.3% of Scout Investments Inc.’s investment portfolio, making the stock its 18th biggest holding. Scout Investments Inc. owned about 0.24% of Gartner worth $62,660,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cardinal Capital Management grew its holdings in Gartner by 2.3% during the 4th quarter. Cardinal Capital Management now owns 3,129 shares of the information technology services provider’s stock worth $1,052,000 after acquiring an additional 69 shares in the last quarter. HB Wealth Management LLC acquired a new position in Gartner during the 4th quarter worth approximately $284,000. Affiance Financial LLC acquired a new position in Gartner during the 4th quarter worth approximately $119,000. Western Financial Corp CA acquired a new position in Gartner during the 4th quarter worth approximately $625,000. Finally, Quent Capital LLC grew its holdings in Gartner by 26.7% during the 4th quarter. Quent Capital LLC now owns 479 shares of the information technology services provider’s stock worth $161,000 after acquiring an additional 101 shares in the last quarter. Institutional investors and hedge funds own 91.86% of the company’s stock.
Gartner Stock Performance
Shares of IT traded up $0.83 during mid-day trading on Thursday, hitting $319.19. 92,514 shares of the company’s stock were exchanged, compared to its average volume of 450,136. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 10.77. Gartner, Inc. has a fifty-two week low of $221.39 and a fifty-two week high of $358.25. The business’s 50 day moving average is $330.71 and its two-hundred day moving average is $323.23. The firm has a market capitalization of $25.24 billion, a P/E ratio of 31.87, a P/E/G ratio of 5.07 and a beta of 1.28.
Gartner (NYSE:IT – Get Rating) last posted its quarterly earnings data on Tuesday, February 7th. The information technology services provider reported $3.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $1.13. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Gartner had a return on equity of 2,645.96% and a net margin of 14.75%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period last year, the firm earned $2.99 EPS. On average, equities analysts expect that Gartner, Inc. will post 9.49 earnings per share for the current year.
Wall Street Analyst Weigh In
IT has been the subject of several analyst reports. StockNews.com initiated coverage on shares of Gartner in a report on Thursday, March 16th. They set a “buy” rating for the company. Barclays upped their target price on shares of Gartner from $330.00 to $350.00 and gave the company an “equal weight” rating in a report on Friday, December 2nd. Morgan Stanley upped their target price on shares of Gartner from $358.00 to $366.00 and gave the company an “equal weight” rating in a report on Wednesday, February 8th. BMO Capital Markets upped their target price on shares of Gartner from $356.00 to $357.00 and gave the company a “market perform” rating in a report on Thursday, February 9th. Finally, Wells Fargo & Company upped their target price on shares of Gartner from $370.00 to $387.00 and gave the company an “overweight” rating in a report on Wednesday, February 8th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Gartner presently has a consensus rating of “Moderate Buy” and a consensus target price of $359.00.
Insider Activity at Gartner
In other news, EVP Scott Hensel sold 3,007 shares of the business’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $355.00, for a total transaction of $1,067,485.00. Following the transaction, the executive vice president now directly owns 12,885 shares in the company, valued at $4,574,175. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Scott Hensel sold 3,007 shares of the firm’s stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $355.00, for a total value of $1,067,485.00. Following the completion of the sale, the executive vice president now directly owns 12,885 shares of the company’s stock, valued at approximately $4,574,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph P. Beck sold 3,471 shares of Gartner stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $350.16, for a total value of $1,215,405.36. Following the completion of the sale, the executive vice president now owns 9,999 shares in the company, valued at $3,501,249.84. The disclosure for this sale can be found here. Insiders have sold a total of 43,031 shares of company stock worth $15,047,172 in the last three months. Insiders own 3.70% of the company’s stock.
Gartner Company Profile
Gartner, Inc is a research and advisory company, which equips business leaders with insights, advice, and tools that help build organizations. It operates through the following segments: Research, Consulting, and Conferences. The Research segment provides executives with objective insights and advice through reports, briefings, proprietary tools, access to the firm’s research experts, peer networking services, and membership programs.