Kornitzer Capital Management Inc. KS Grows Position in Gartner, Inc. (NYSE:IT)

Kornitzer Capital Management Inc. KS lifted its position in Gartner, Inc. (NYSE:IT) by 0.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,652 shares of the information technology services provider’s stock after acquiring an additional 46 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Gartner were worth $17,560,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in IT. Eastern Bank bought a new stake in shares of Gartner during the 3rd quarter worth $26,000. Central Pacific Bank Trust Division bought a new stake in Gartner in the first quarter worth about $36,000. Crewe Advisors LLC boosted its stake in Gartner by 223.3% in the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after acquiring an additional 67 shares during the last quarter. Fortitude Family Office LLC grew its position in shares of Gartner by 23.8% during the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after acquiring an additional 20 shares during the period. Finally, J.Safra Asset Management Corp increased its stake in shares of Gartner by 58.7% during the 1st quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock worth $70,000 after purchasing an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on IT shares. Deutsche Bank Aktiengesellschaft increased their price objective on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Wednesday. UBS Group upped 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. Barclays lifted their target price on shares of Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, BMO Capital Markets lifted their price objective on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Gartner has a consensus rating of “Hold” and a consensus target price of $539.25.

Gartner Trading Down 0.4 %

Shares of NYSE:IT traded down $2.19 during trading hours on Thursday, hitting $534.71. 6,081 shares of the company’s stock traded hands, compared to its average volume of 367,101. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90. The business has a fifty day moving average price of $510.44 and a 200-day moving average price of $473.06. Gartner, Inc. has a 1 year low of $396.60 and a 1 year high of $542.13. The firm has a market capitalization of $41.20 billion, a P/E ratio of 51.13, a price-to-earnings-growth ratio of 3.14 and a beta of 1.32.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.05. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.56 EPS. Equities analysts expect that Gartner, Inc. will post 11.65 earnings per share for the current year.

Insider Transactions at Gartner

In other news, EVP Claire Herkes sold 478 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $506.01, for a total value of $241,872.78. Following the completion of the sale, the executive vice president now owns 1,905 shares in the company, valued at approximately $963,949.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Yvonne Genovese sold 443 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $483.62, for a total transaction of $214,243.66. Following the sale, the executive vice president now owns 1,959 shares of the company’s stock, valued at $947,411.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Claire Herkes sold 478 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $506.01, for a total transaction of $241,872.78. Following the sale, the executive vice president now directly owns 1,905 shares of the company’s stock, valued at approximately $963,949.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,899 shares of company stock valued at $24,959,886. 3.60% of the stock is currently owned by corporate insiders.

Gartner 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.