Taikang Asset Management Hong Kong Co Ltd Sells 1,424 Shares of Gartner, Inc. (NYSE:IT)

Taikang Asset Management Hong Kong Co Ltd cut its holdings in Gartner, Inc. (NYSE:IT) by 21.7% in the fourth quarter, HoldingsChannel reports. The firm owned 5,148 shares of the information technology services provider’s stock after selling 1,424 shares during the period. Taikang Asset Management Hong Kong Co Ltd’s holdings in Gartner were worth $2,494,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of IT. Czech National Bank boosted its holdings in shares of Gartner by 6.5% during the 4th quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock worth $8,103,000 after buying an additional 1,028 shares during the period. Entropy Technologies LP acquired a new position in Gartner during the 4th quarter worth $366,000. D.A. Davidson & CO. boosted its holdings in Gartner by 2.6% during the fourth quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider’s stock valued at $551,000 after acquiring an additional 29 shares during the period. Conestoga Capital Advisors LLC grew its position in shares of Gartner by 1.5% in the fourth quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider’s stock valued at $15,322,000 after purchasing an additional 480 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of Gartner by 8.6% in the third quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock worth $84,520,000 after purchasing an additional 13,205 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Gartner

In related news, SVP John J. Rinello sold 90 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares in the company, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eileen Serra sold 1,200 shares of the business’s 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 in the company, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Gartner Stock Down 0.2 %

IT opened at $429.69 on Tuesday. The company has a market capitalization of $33.01 billion, a P/E ratio of 26.81, a P/E/G ratio of 3.30 and a beta of 1.29. 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 firm’s fifty day moving average price is $501.11 and its two-hundred day moving average price is $507.61. Gartner, Inc. has a fifty-two week low of $409.50 and a fifty-two week high of $584.01.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating the consensus estimate of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the business earned $3.04 EPS. The firm’s revenue was up 8.1% on a year-over-year basis. On average, analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on IT shares. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Friday. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. Robert W. Baird dropped their target price on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research report on Friday. Morgan Stanley cut their target price on shares of 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, Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $546.63.

Gartner Company 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.