GW&K Investment Management LLC Acquires 38,093 Shares of Gartner Inc (NYSE:IT)

GW&K Investment Management LLC increased its position in Gartner Inc (NYSE:IT) by 10.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 407,538 shares of the information technology services provider’s stock after buying an additional 38,093 shares during the period. Gartner accounts for about 0.8% of GW&K Investment Management LLC’s investment portfolio, making the stock its 20th largest holding. GW&K Investment Management LLC’s holdings in Gartner were worth $58,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bartlett & Co. LLC bought a new position in Gartner in the 3rd quarter worth $29,000. Ibex Wealth Advisors bought a new position in Gartner in the 2nd quarter worth $40,000. Squar Milner Financial Services LLC raised its holdings in Gartner by 116.3% in the 3rd quarter. Squar Milner Financial Services LLC now owns 318 shares of the information technology services provider’s stock worth $45,000 after acquiring an additional 171 shares during the period. Strategic Blueprint LLC bought a new position in Gartner in the 3rd quarter worth $46,000. Finally, Quest Capital Management Inc. ADV bought a new position in Gartner in the 3rd quarter worth $52,000. Hedge funds and other institutional investors own 95.83% of the company’s stock.

NYSE IT traded up $0.36 during midday trading on Friday, hitting $160.36. The company had a trading volume of 318,300 shares, compared to its average volume of 490,408. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 3.08. The stock has a market cap of $14.49 billion, a price-to-earnings ratio of 42.31, a P/E/G ratio of 3.48 and a beta of 1.23. The firm has a fifty day simple moving average of $146.03 and a two-hundred day simple moving average of $149.67. Gartner Inc has a fifty-two week low of $120.89 and a fifty-two week high of $171.77.

Gartner (NYSE:IT) last posted its quarterly earnings results on Thursday, October 31st. The information technology services provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.27. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $992.84 million. Gartner had a net margin of 6.04% and a return on equity of 40.06%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the business posted $0.85 EPS. As a group, equities analysts predict that Gartner Inc will post 3.55 earnings per share for the current year.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

In other news, EVP Alwyn Dawkins sold 771 shares of Gartner stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $129.52, for a total transaction of $99,859.92. Following the sale, the executive vice president now directly owns 34,235 shares in the company, valued at approximately $4,434,117.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robin B. Kranich sold 2,830 shares of Gartner stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $155.86, for a total transaction of $441,083.80. Following the sale, the executive vice president now owns 5,372 shares in the company, valued at $837,279.92. The disclosure for this sale can be found here. Insiders sold a total of 19,413 shares of company stock worth $2,950,989 over the last 90 days. Company insiders own 4.00% of the company’s stock.

Several brokerages recently commented on IT. Bank of America lifted their target price on shares of Gartner from $150.00 to $172.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Morgan Stanley decreased their price target on shares of Gartner from $156.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. BMO Capital Markets decreased their price target on shares of Gartner to $142.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 31st. ValuEngine upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Finally, TheStreet lowered shares of Gartner from a “b” rating to a “c+” rating in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $155.40.

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.

Featured Story: Cost of Goods Sold (COGS)

Want to see what other hedge funds are holding IT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gartner Inc (NYSE:IT).

Institutional Ownership by Quarter for Gartner (NYSE:IT)

Leave a Reply

Your email address will not be published. Required fields are marked *

*