Gartner, Inc. (NYSE:IT) Shares Sold by Covington Capital Management

Covington Capital Management lessened its stake in Gartner, Inc. (NYSE:ITGet Rating) by 55.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 295 shares of the information technology services provider’s stock after selling 370 shares during the period. Covington Capital Management’s holdings in Gartner were worth $71,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Clearstead Advisors LLC purchased a new position in Gartner in the first quarter valued at about $27,000. Cambridge Trust Co. acquired a new stake in shares of Gartner in the first quarter valued at approximately $31,000. JFS Wealth Advisors LLC grew its position in shares of Gartner by 588.2% in the first quarter. JFS Wealth Advisors LLC now owns 117 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 100 shares during the last quarter. Allworth Financial LP grew its position in shares of Gartner by 39.3% in the first quarter. Allworth Financial LP now owns 124 shares of the information technology services provider’s stock valued at $37,000 after purchasing an additional 35 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC acquired a new stake in shares of Gartner in the first quarter valued at approximately $39,000. Institutional investors and hedge funds own 92.20% of the company’s stock.

Insiders Place Their Bets

In other Gartner news, CEO Eugene A. Hall sold 10,425 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $294.26, for a total value of $3,067,660.50. Following the transaction, the chief executive officer now owns 1,167,041 shares in the company, valued at approximately $343,413,484.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Yvonne Genovese sold 645 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $310.02, for a total value of $199,962.90. Following the sale, the executive vice president now owns 639 shares in the company, valued at approximately $198,102.78. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Eugene A. Hall sold 10,425 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $294.26, for a total transaction of $3,067,660.50. Following the completion of the sale, the chief executive officer now owns 1,167,041 shares in the company, valued at approximately $343,413,484.66. The disclosure for this sale can be found here. Insiders have sold 23,640 shares of company stock worth $7,006,015 in the last quarter. 3.70% of the stock is owned by corporate insiders.

Gartner Stock Performance

Shares of IT stock opened at $302.90 on Tuesday. The company’s fifty day simple moving average is $285.04 and its 200-day simple moving average is $274.83. Gartner, Inc. has a 52 week low of $221.39 and a 52 week high of $368.99. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 20.79. The company has a market cap of $23.96 billion, a PE ratio of 34.15, a P/E/G ratio of 2.97 and a beta of 1.40.

Gartner (NYSE:ITGet Rating) last issued its earnings results on Tuesday, August 2nd. The information technology services provider reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.70. Gartner had a net margin of 14.42% and a return on equity of 497.67%. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the firm posted $2.24 EPS. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Gartner, Inc. will post 9.08 EPS for the current year.

Wall Street Analyst Weigh In

IT has been the topic of several research reports. BMO Capital Markets lowered their price target on shares of Gartner from $315.00 to $265.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 21st. Wells Fargo & Company increased their price target on shares of Gartner from $305.00 to $345.00 and gave the company an “overweight” rating in a research report on Wednesday, August 3rd. TheStreet upgraded shares of Gartner from a “c+” rating to a “b-” rating in a research report on Wednesday, August 17th. Robert W. Baird raised their target price on shares of Gartner from $334.00 to $365.00 in a research report on Wednesday, August 3rd. Finally, Barclays raised their target price on shares of Gartner from $265.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 4th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $321.67.

Gartner Company Profile

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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.

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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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