Gartner, Inc. (NYSE:IT) Stock Holdings Lessened by Grove Bank & Trust

Grove Bank & Trust cut its stake in shares of Gartner, Inc. (NYSE:IT) by 25.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,437 shares of the information technology services provider’s stock after selling 828 shares during the period. Grove Bank & Trust’s holdings in Gartner were worth $1,181,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Moors & Cabot Inc. increased its position in Gartner by 3.0% in the 2nd quarter. Moors & Cabot Inc. now owns 763 shares of the information technology services provider’s stock worth $343,000 after purchasing an additional 22 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Gartner by 7.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 4,407 shares of the information technology services provider’s stock worth $2,187,000 after buying an additional 293 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in Gartner by 14.9% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,510 shares of the information technology services provider’s stock worth $678,000 after buying an additional 196 shares during the last quarter. Ieq Capital LLC raised its position in Gartner by 12.0% during the second quarter. Ieq Capital LLC now owns 4,616 shares of the information technology services provider’s stock valued at $2,073,000 after acquiring an additional 496 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Gartner by 105.4% in the second quarter. Canada Pension Plan Investment Board now owns 17,406 shares of the information technology services provider’s stock worth $7,816,000 after acquiring an additional 8,931 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Price Performance

Shares of Gartner stock opened at $516.34 on Friday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $39.83 billion, a PE ratio of 38.08, a price-to-earnings-growth ratio of 2.72 and a beta of 1.33. The firm has a fifty day moving average price of $507.49 and a two-hundred day moving average price of $498.39. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $559.00.

Gartner (NYSE:IT) last released its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share 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 analysts’ expectations of $1.48 billion. During the same quarter last year, the company earned $2.56 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. Analysts expect that Gartner, Inc. will post 11.87 EPS for the current year.

Analysts Set New Price Targets

IT has been the topic of a number of recent research reports. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $525.00 to $600.00 in a report on Friday, January 10th. Wells Fargo & Company decreased their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Morgan Stanley reduced their target price on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Robert W. Baird increased their price target on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $550.75.

Insider Transactions at Gartner

In related news, EVP Claire Herkes sold 411 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total value of $214,229.64. Following the completion of the transaction, the executive vice president now owns 1,494 shares of the company’s stock, valued at $778,732.56. This represents a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP William James Wartinbee III sold 189 shares of Gartner stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $523.54, for a total value of $98,949.06. Following the sale, the executive vice president now directly owns 7,311 shares in the company, valued at $3,827,600.94. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,583 shares of company stock valued at $19,241,974. 3.60% of the stock is owned by corporate insiders.

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.