Alliancebernstein L.P. Sells 5,698 Shares of Gartner, Inc. (NYSE:IT)

Alliancebernstein L.P. lessened its stake in Gartner, Inc. (NYSE:IT) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 794,385 shares of the information technology services provider’s stock after selling 5,698 shares during the quarter. Alliancebernstein L.P.’s holdings in Gartner were worth $384,856,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in IT. Czech National Bank increased its stake in shares of Gartner by 6.5% in the 4th quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock valued at $8,103,000 after acquiring an additional 1,028 shares during the last quarter. Entropy Technologies LP bought a new stake in Gartner in the fourth quarter valued at approximately $366,000. D.A. Davidson & CO. raised its holdings in Gartner by 2.6% in the fourth quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider’s stock worth $551,000 after purchasing an additional 29 shares during the period. Conestoga Capital Advisors LLC boosted its position in shares of Gartner by 1.5% during the fourth quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider’s stock worth $15,322,000 after purchasing an additional 480 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Gartner by 8.6% in the 3rd quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock valued at $84,520,000 after buying an additional 13,205 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Stock Up 0.4 %

Gartner stock opened at $420.00 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. Gartner, Inc. has a 1-year low of $409.50 and a 1-year high of $584.01. The company has a fifty day simple moving average of $492.25 and a 200 day simple moving average of $505.01. The company has a market cap of $32.26 billion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29.

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

Insider Transactions at Gartner

In other Gartner news, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the transaction, the director now owns 1,627 shares of the company’s stock, valued at $796,855.79. The trade was a 42.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the transaction, the senior vice president now owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This represents a 2.69 % 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.

Wall Street Analysts Forecast Growth

IT has been the topic of several research analyst reports. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. UBS Group cut their price objective on Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Wells Fargo & Company cut their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Finally, Morgan Stanley lowered their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $536.63.

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.