SVB Wealth LLC Cuts Stock Position in Gartner, Inc. (NYSE:IT)

SVB Wealth LLC decreased its stake in shares of Gartner, Inc. (NYSE:IT) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,348 shares of the information technology services provider’s stock after selling 83 shares during the quarter. SVB Wealth LLC’s holdings in Gartner were worth $3,503,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. MCF Advisors LLC purchased a new position in shares of Gartner in the fourth quarter worth $27,000. Frazier Financial Advisors LLC purchased a new position in shares of Gartner in the fourth quarter worth $27,000. AdvisorNet Financial Inc raised its stake in shares of Gartner by 59.5% in 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. DSM Capital Partners LLC purchased a new position in shares of Gartner in the fourth quarter worth $32,000. Finally, Harbor Investment Advisory LLC raised its stake in shares of Gartner by 7,500.0% in 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. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Stock Performance

IT stock traded down $0.08 during midday trading on Monday, reaching $470.84. 476,603 shares of the company’s stock traded hands, compared to its average volume of 402,601. Gartner, Inc. has a 52-week low of $323.61 and a 52-week high of $486.54. The stock has a market cap of $36.55 billion, a P/E ratio of 46.85, a PEG ratio of 4.08 and a beta of 1.33. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.42. The stock’s 50-day moving average is $446.18 and its 200 day moving average is $454.07.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.40. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the prior year, the company earned $2.88 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. As a group, analysts anticipate that Gartner, Inc. will post 11.63 EPS for the current year.

Insiders Place Their Bets

In other Gartner news, Director James C. Smith sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $439.29, for a total value of $4,392,900.00. Following the completion of the transaction, the director now directly owns 599,074 shares in the company, valued at $263,167,217.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director James C. Smith sold 10,000 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $439.29, for a total transaction of $4,392,900.00. Following the completion of the transaction, the director now owns 599,074 shares in the company, valued at $263,167,217.46. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alwyn Dawkins sold 800 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $454.57, for a total transaction of $363,656.00. Following the transaction, the executive vice president now owns 50,783 shares of the company’s stock, valued at approximately $23,084,428.31. The disclosure for this sale can be found here. Insiders sold a total of 22,544 shares of company stock worth $10,079,813 over the last three months. 3.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on IT shares. Deutsche Bank Aktiengesellschaft started coverage on Gartner in a research note on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price target for the company. Morgan Stanley lifted their price objective on Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. UBS Group cut their price objective on Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. BMO Capital Markets reduced their price target on shares of Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. Finally, Robert W. Baird dropped their price objective on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $478.50.

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.