NewEdge Wealth LLC Decreases Stake in Gartner, Inc. (NYSE:IT)

NewEdge Wealth LLC decreased its position in Gartner, Inc. (NYSE:IT) by 1.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,798 shares of the information technology services provider’s stock after selling 28 shares during the period. NewEdge Wealth LLC’s holdings in Gartner were worth $1,262,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IT. OFI Invest Asset Management purchased a new stake in shares of Gartner during the 3rd quarter worth approximately $25,000. BKM Wealth Management LLC purchased a new stake in shares of Gartner during the 4th quarter worth approximately $26,000. Cornerstone Planning Group LLC purchased a new stake in shares of Gartner during the 2nd quarter worth approximately $27,000. VisionPoint Advisory Group LLC increased its stake in shares of Gartner by 254.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 85 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 61 shares during the last quarter. Finally, Resurgent Financial Advisors LLC purchased a new stake in shares of Gartner during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling at Gartner

In other Gartner news, EVP Valentin Sribar sold 682 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the transaction, the executive vice president now directly owns 12,269 shares of the company’s stock, valued at approximately $5,557,857. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director James C. Smith sold 5,000 shares of Gartner stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $455.00, for a total transaction of $2,275,000.00. Following the completion of the sale, the director now directly owns 638,235 shares of the company’s stock, valued at approximately $290,396,925. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Valentin Sribar sold 682 shares of Gartner stock in a transaction on Friday, February 16th. The stock was sold at an average price of $453.00, for a total transaction of $308,946.00. Following the sale, the executive vice president now directly owns 12,269 shares of the company’s stock, valued at $5,557,857. The disclosure for this sale can be found here. Insiders sold a total of 22,952 shares of company stock valued at $10,598,070 in the last three months. Company insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Morgan Stanley raised their price objective on shares of Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. UBS Group raised shares of Gartner from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $484.00 to $550.00 in a report on Thursday, April 11th. Finally, BMO Capital Markets raised their price objective on shares of Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a report on Thursday, February 8th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $470.25.

Gartner Stock Down 0.4 %

Shares of NYSE:IT opened at $463.68 on Tuesday. The firm has a fifty day moving average price of $465.74 and a two-hundred day moving average price of $432.79. The company has a debt-to-equity ratio of 3.60, a current ratio of 0.91 and a quick ratio of 0.91. Gartner, Inc. has a one year low of $292.60 and a one year high of $486.54. The company has a market cap of $36.15 billion, a price-to-earnings ratio of 41.92, a PEG ratio of 4.25 and a beta of 1.29.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 EPS for the quarter, beating the consensus estimate of $2.83 by $0.21. Gartner had a net margin of 14.94% and a return on equity of 156.35%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the firm earned $3.70 EPS. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. Analysts anticipate that Gartner, Inc. will post 11.36 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.