The Manufacturers Life Insurance Company Sells 748 Shares of Gartner, Inc. (NYSE:IT)

The Manufacturers Life Insurance Company lowered its position in Gartner, Inc. (NYSE:IT) by 1.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 47,364 shares of the information technology services provider’s stock after selling 748 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Gartner worth $21,269,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MBB Public Markets I LLC bought a new position in shares of Gartner in the second quarter valued at approximately $2,578,000. Deerfield Management Company L.P. Series C bought a new position in shares of Gartner in the second quarter valued at approximately $339,000. APG Asset Management N.V. lifted its holdings in shares of Gartner by 102.7% in the second quarter. APG Asset Management N.V. now owns 109,341 shares of the information technology services provider’s stock valued at $45,814,000 after purchasing an additional 55,389 shares in the last quarter. APG Asset Management US Inc. lifted its holdings in shares of Gartner by 3.4% in the second quarter. APG Asset Management US Inc. now owns 74,720 shares of the information technology services provider’s stock valued at $32,975,000 after purchasing an additional 2,456 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Gartner by 11.1% in the second quarter. AQR Capital Management LLC now owns 120,275 shares of the information technology services provider’s stock valued at $53,758,000 after purchasing an additional 12,016 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Transactions at Gartner

In other news, EVP Claire Herkes sold 478 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $506.01, for a total value of $241,872.78. Following the completion of the transaction, the executive vice president now directly owns 1,905 shares of the company’s stock, valued at $963,949.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Claire Herkes sold 478 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $506.01, for a total value of $241,872.78. Following the completion of the transaction, the executive vice president now directly owns 1,905 shares of the company’s stock, valued at $963,949.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eugene A. Hall sold 34,060 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total value of $17,213,924.00. Following the completion of the transaction, the chief executive officer now directly owns 1,143,401 shares of the company’s stock, valued at $577,874,865.40. The disclosure for this sale can be found here. Insiders sold 65,164 shares of company stock valued at $32,601,014 over the last three months. Company insiders own 3.60% of the company’s stock.

Gartner Stock Performance

NYSE:IT opened at $501.23 on Wednesday. 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 simple moving average of $489.06 and a two-hundred day simple moving average of $463.88. Gartner, Inc. has a 1 year low of $323.61 and a 1 year high of $521.64. The company has a market capitalization of $38.91 billion, a P/E ratio of 49.87, a P/E/G ratio of 3.21 and a beta of 1.32.

Gartner (NYSE:IT) last released its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the business posted $2.85 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts expect that Gartner, Inc. will post 11.65 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on IT. Wells Fargo & Company upgraded Gartner to a “strong sell” rating in a report on Tuesday, August 13th. UBS Group increased their price target on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. BMO Capital Markets increased their price target on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Finally, Bank of America increased their price target on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $521.00.

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.