Calamos Advisors LLC Decreases Stake in Gartner, Inc. (NYSE:IT)

Calamos Advisors LLC decreased its stake in shares of Gartner, Inc. (NYSE:IT) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 47,140 shares of the information technology services provider’s stock after selling 616 shares during the quarter. Calamos Advisors LLC’s holdings in Gartner were worth $21,265,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. BKM Wealth Management LLC bought a new position in shares of Gartner during the fourth quarter worth about $26,000. AdvisorNet Financial Inc lifted its position in shares of Gartner by 59.5% during the fourth quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 25 shares during the last quarter. Harbor Investment Advisory LLC lifted its position in shares of Gartner by 7,500.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 76 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 75 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Gartner during the third quarter worth about $25,000. Finally, Cornerstone Planning Group LLC bought a new position in shares of Gartner during the second quarter worth about $27,000. Institutional investors own 91.51% of the company’s stock.

Insider Activity

In other news, EVP Valentin Sribar sold 682 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the transaction, the executive vice president now directly owns 12,269 shares in the company, valued at $5,557,857. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Valentin Sribar sold 682 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $453.00, for a total transaction of $308,946.00. Following the completion of the sale, the executive vice president now directly owns 12,269 shares in the company, valued at $5,557,857. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Akhil Jain sold 250 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $464.55, for a total transaction of $116,137.50. Following the completion of the transaction, the executive vice president now directly owns 5,239 shares of the company’s stock, valued at approximately $2,433,777.45. The disclosure for this sale can be found here. Insiders sold 22,952 shares of company stock worth $10,598,070 over the last three months. Corporate insiders own 3.90% of the company’s stock.

Gartner Stock Performance

Shares of NYSE:IT traded down $2.17 during trading hours on Friday, hitting $447.44. The stock had a trading volume of 41,441 shares, compared to its average volume of 385,281. The stock’s fifty day simple moving average is $465.53 and its 200 day simple moving average is $433.82. Gartner, Inc. has a 1-year low of $292.60 and a 1-year high of $486.54. The firm has a market capitalization of $34.89 billion, a price-to-earnings ratio of 40.65, a PEG ratio of 4.10 and a beta of 1.29. The company has a debt-to-equity ratio of 3.60, a quick ratio of 0.91 and a current ratio of 0.91.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 EPS for the quarter, beating the consensus estimate of $2.83 by $0.21. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. Gartner had a net margin of 14.94% and a return on equity of 156.35%. Gartner’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $3.70 earnings per share. Sell-side analysts anticipate that Gartner, Inc. will post 11.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IT. Deutsche Bank Aktiengesellschaft began coverage on shares of Gartner in a research note on Tuesday. They set a “hold” rating and a $507.00 price objective on the stock. UBS Group upgraded shares of Gartner from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $484.00 to $550.00 in a research note on Thursday, April 11th. BMO Capital Markets increased their price objective on shares of Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a research note on Thursday, February 8th. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Finally, Morgan Stanley increased their price objective on shares of Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $477.60.

About Gartner

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.