Planning Capital Management Corp Cuts Holdings in Gartner, Inc. (NYSE:IT)

Planning Capital Management Corp reduced its position in Gartner, Inc. (NYSE:IT) by 71.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53 shares of the information technology services provider’s stock after selling 135 shares during the quarter. Planning Capital Management Corp’s holdings in Gartner were worth $27,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Russell Investments Group Ltd. raised its position in Gartner by 11.4% in the first quarter. Russell Investments Group Ltd. now owns 25,063 shares of the information technology services provider’s stock valued at $11,987,000 after purchasing an additional 2,560 shares during the period. Transcend Capital Advisors LLC acquired a new stake in shares of Gartner during the second quarter valued at about $512,000. Tidal Investments LLC grew its stake in shares of Gartner by 24.4% during the first quarter. Tidal Investments LLC now owns 9,890 shares of the information technology services provider’s stock valued at $4,717,000 after acquiring an additional 1,940 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of Gartner during the first quarter valued at about $1,049,000. Finally, Vident Advisory LLC grew its stake in Gartner by 543.2% in the first quarter. Vident Advisory LLC now owns 9,178 shares of the information technology services provider’s stock worth $4,375,000 after purchasing an additional 7,751 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Gartner

In other Gartner news, EVP Yvonne Genovese sold 443 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $483.62, for a total value of $214,243.66. Following the completion of the sale, the executive vice president now owns 1,959 shares in the company, valued at $947,411.58. This represents a 18.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Akhil Jain sold 500 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $492.00, for a total transaction of $246,000.00. Following the transaction, the executive vice president now owns 4,339 shares in the company, valued at approximately $2,134,788. This trade represents a 10.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,172 shares of company stock worth $38,023,255. 3.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley lifted their price target on Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. BMO Capital Markets boosted their price objective on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company lifted their price target on Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. Finally, Barclays lifted their price objective on shares of Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $539.25.

Gartner Stock Down 2.7 %

IT stock opened at $537.10 on Friday. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $559.00. The firm has a market cap of $41.39 billion, a PE ratio of 39.61, a P/E/G ratio of 3.45 and a beta of 1.32. The firm has a 50 day simple moving average of $517.54 and a 200 day simple moving average of $476.98. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02.

Gartner (NYSE:IT) last released its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the business earned $2.56 earnings per share. The business’s quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts forecast that Gartner, Inc. will post 11.89 earnings per share for the current fiscal year.

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.