Equitable Trust Co. Sells 128 Shares of Gartner, Inc. (NYSE:IT)

Equitable Trust Co. trimmed its position in shares of Gartner, Inc. (NYSE:IT) by 5.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,079 shares of the information technology services provider’s stock after selling 128 shares during the quarter. Equitable Trust Co.’s holdings in Gartner were worth $1,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its position in Gartner by 208.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 272,267 shares of the information technology services provider’s stock valued at $131,905,000 after purchasing an additional 183,974 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Gartner during the third quarter valued at about $70,955,000. Principal Financial Group Inc. raised its holdings in Gartner by 5.5% during the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock valued at $1,014,099,000 after acquiring an additional 103,814 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Gartner during the third quarter valued at about $36,789,000. Finally, JPMorgan Chase & Co. raised its holdings in Gartner by 7.3% during the third quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock valued at $525,272,000 after acquiring an additional 70,236 shares during the period. 91.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Gartner news, Director James C. Smith sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $524.02, for a total transaction of $2,620,100.00. Following the completion of the transaction, the director now owns 509,457 shares in the company, valued at $266,965,657.14. The trade was a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William James Wartinbee III sold 189 shares of the business’s 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 transaction, the executive vice president now owns 7,311 shares of the company’s stock, valued at $3,827,600.94. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,600 shares of company stock valued at $2,933,279 over the last ninety days. 3.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on IT. Deutsche Bank Aktiengesellschaft raised their price target on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Barclays raised 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. Robert W. Baird raised their price target on Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Morgan Stanley decreased their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Finally, Wells Fargo & Company decreased their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $552.63.

Gartner Trading Down 0.1 %

Shares of IT stock opened at $528.74 on Tuesday. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $584.01. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The stock’s 50-day moving average price is $510.16 and its 200-day moving average price is $507.55. The stock has a market capitalization of $40.78 billion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 3.50 and a beta of 1.34.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, topping the consensus estimate of $3.22 by $2.23. Gartner had a return on equity of 136.32% and a net margin of 20.00%. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the firm posted $3.04 earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities research analysts predict that Gartner, Inc. will post 12.5 EPS 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.