Bares Capital Management Inc. Boosts Stake in Gartner (IT)

Bares Capital Management Inc. grew its stake in shares of Gartner (NYSE:IT) by 23.6% in the first quarter, Holdings Channel reports. The fund owned 1,587,571 shares of the information technology services provider’s stock after buying an additional 303,449 shares during the quarter. Gartner makes up about 7.1% of Bares Capital Management Inc.’s portfolio, making the stock its 4th largest position. Bares Capital Management Inc.’s holdings in Gartner were worth $186,730,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of IT. Atlanta Capital Management Co. L L C increased its position in Gartner by 18.2% during the 4th quarter. Atlanta Capital Management Co. L L C now owns 2,202,047 shares of the information technology services provider’s stock worth $271,182,000 after purchasing an additional 339,426 shares in the last quarter. Wells Fargo & Company MN increased its position in Gartner by 28.7% during the 1st quarter. Wells Fargo & Company MN now owns 1,484,145 shares of the information technology services provider’s stock worth $174,566,000 after purchasing an additional 330,798 shares in the last quarter. BlackRock Inc. increased its position in Gartner by 2.6% during the 4th quarter. BlackRock Inc. now owns 6,750,760 shares of the information technology services provider’s stock worth $831,356,000 after purchasing an additional 169,981 shares in the last quarter. Bain Capital Public Equity Management LLC increased its position in Gartner by 41.1% during the 4th quarter. Bain Capital Public Equity Management LLC now owns 456,103 shares of the information technology services provider’s stock worth $56,169,000 after purchasing an additional 132,834 shares in the last quarter. Finally, TimesSquare Capital Management LLC increased its position in Gartner by 5.4% during the 4th quarter. TimesSquare Capital Management LLC now owns 2,352,550 shares of the information technology services provider’s stock worth $289,717,000 after purchasing an additional 121,350 shares in the last quarter. 97.00% of the stock is owned by institutional investors.

A number of analysts recently issued reports on the stock. Zacks Investment Research raised shares of Gartner from a “sell” rating to a “hold” rating in a research report on Monday. TheStreet downgraded shares of Gartner from a “b-” rating to a “c” rating in a research report on Tuesday, May 8th. ValuEngine raised shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, May 9th. Wells Fargo set a $130.00 target price on shares of Gartner and gave the stock a “hold” rating in a research report on Wednesday, May 9th. Finally, BMO Capital Markets increased their target price on shares of Gartner from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 9th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $141.40.

Shares of NYSE:IT opened at $133.23 on Friday. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.73 and a quick ratio of 0.73. Gartner has a 52-week low of $134.18 and a 52-week high of $135.41. The company has a market capitalization of $12.28 billion, a price-to-earnings ratio of 40.25, a PEG ratio of 2.33 and a beta of 1.13.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, May 8th. The information technology services provider reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.14. Gartner had a negative net margin of 1.45% and a positive return on equity of 33.99%. The company had revenue of $964.00 million during the quarter, compared to the consensus estimate of $921.22 million. During the same quarter last year, the company earned $0.60 earnings per share. Gartner’s revenue for the quarter was up 54.2% on a year-over-year basis. analysts anticipate that Gartner will post 3.75 EPS for the current fiscal year.

In other news, EVP Alwyn Dawkins sold 1,500 shares of the stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $135.32, for a total transaction of $202,980.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robin B. Kranich sold 5,713 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $116.15, for a total value of $663,564.95. The disclosure for this sale can be found here. Insiders sold 93,757 shares of company stock valued at $11,154,003 in the last ninety days. 4.30% of the stock is owned by corporate insiders.

Gartner Company Profile

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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