Thrivent Financial for Lutherans Decreases Stock Holdings in Gartner, Inc. (NYSE:IT)

Thrivent Financial for Lutherans lessened its holdings in Gartner, Inc. (NYSE:IT) by 10.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,986 shares of the information technology services provider’s stock after selling 3,838 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Gartner were worth $16,493,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IT. Kestra Investment Management LLC purchased a new position in shares of Gartner in the 4th quarter valued at about $29,000. True Wealth Design LLC increased its stake in Gartner by 2,350.0% in the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after purchasing an additional 94 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Gartner during the fourth quarter worth approximately $49,000. Promus Capital LLC purchased a new stake in shares of Gartner during the 4th quarter worth approximately $57,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of Gartner by 14.0% in the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock valued at $134,000 after buying an additional 34 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Gartner news, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares in the company, valued at approximately $1,728,932.09. The trade was a 2.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eileen Serra sold 1,200 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the transaction, the director now owns 1,627 shares of the company’s stock, valued at $796,855.79. This represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by corporate insiders.

Gartner Price Performance

Gartner stock opened at $430.03 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The business has a 50 day simple moving average of $502.37 and a 200-day simple moving average of $507.66. Gartner, Inc. has a 12 month low of $409.50 and a 12 month high of $584.01. The stock has a market capitalization of $33.03 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the firm earned $3.04 EPS. Gartner’s quarterly revenue was up 8.1% on a year-over-year basis. Equities analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IT has been the subject of a number of research reports. Robert W. Baird reduced their price target on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research report on Friday. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Friday. Morgan Stanley reduced their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Finally, Wells Fargo & Company lowered their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Gartner currently has a consensus rating of “Hold” and an average target price of $546.63.

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.