Hartford Investment Management Co. Reduces Stake in Gartner Inc (NYSE:IT)

Hartford Investment Management Co. cut its position in Gartner Inc (NYSE:IT) by 40.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,319 shares of the information technology services provider’s stock after selling 6,935 shares during the quarter. Hartford Investment Management Co.’s holdings in Gartner were worth $1,371,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Allianz Asset Management GmbH acquired a new position in Gartner in the 1st quarter valued at $207,000. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Gartner in the 1st quarter worth $210,000. Rampart Investment Management Company LLC increased its stake in shares of Gartner by 44.6% in the 1st quarter. Rampart Investment Management Company LLC now owns 1,808 shares of the information technology services provider’s stock worth $213,000 after acquiring an additional 558 shares during the last quarter. Commerzbank Aktiengesellschaft FI purchased a new position in shares of Gartner during the 1st quarter worth $219,000. Finally, Point72 Asia Hong Kong Ltd grew its holdings in shares of Gartner by 136.4% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,889 shares of the information technology services provider’s stock worth $222,000 after purchasing an additional 1,090 shares during the period.

A number of equities analysts have recently weighed in on the company. TheStreet upgraded Gartner from a “c” rating to a “b” rating in a report on Wednesday, August 1st. Piper Jaffray Companies restated a “hold” rating and set a $116.00 target price on shares of Gartner in a report on Thursday, August 2nd. Morgan Stanley lifted their price objective on Gartner from $140.00 to $142.00 and gave the company an “equal weight” rating in a research note on Thursday, August 2nd. ValuEngine cut Gartner from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Zacks Investment Research raised Gartner from a “sell” rating to a “hold” rating in a research report on Monday, May 14th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $140.30.

In related news, EVP Robin B. Kranich sold 4,000 shares of the company’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $140.09, for a total value of $560,360.00. Following the completion of the transaction, the executive vice president now directly owns 16,916 shares in the company, valued at $2,369,762.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mr Thomas Christopher sold 1,850 shares of the company’s stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $135.63, for a total value of $250,915.50. Following the sale, the executive vice president now owns 19,938 shares of the company’s stock, valued at $2,704,190.94. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,950 shares of company stock valued at $1,371,688. Insiders own 4.30% of the company’s stock.

Gartner opened at $140.32 on Friday, Marketbeat Ratings reports. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 2.33. Gartner Inc has a 1-year low of $111.57 and a 1-year high of $142.16. The company has a market capitalization of $12.68 billion, a P/E ratio of 39.12, a price-to-earnings-growth ratio of 2.58 and a beta of 1.16.

Gartner (NYSE:IT) last posted its earnings results on Wednesday, August 1st. The information technology services provider reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.07. Gartner had a return on equity of 35.04% and a net margin of 2.25%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $985.98 million. During the same period in the previous year, the business earned $0.88 earnings per share. Gartner’s quarterly revenue was up 18.7% compared to the same quarter last year. equities analysts anticipate that Gartner Inc will post 3.74 earnings per share for the current fiscal year.

About Gartner

Gartner, Inc operates as a research and advisory company. It operates through four segments: Research, Consulting, Events, and Talent Assessment & Other. 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 our 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.

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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