Desjardins Global Asset Management Inc. Reduces Position in Gartner, Inc. (NYSE:IT)

Desjardins Global Asset Management Inc. cut its holdings in shares of Gartner, Inc. (NYSE:IT) by 90.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 349 shares of the information technology services provider’s stock after selling 3,333 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Gartner were worth $157,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. BSW Wealth Partners increased its position in shares of Gartner by 3.7% during the fourth quarter. BSW Wealth Partners now owns 617 shares of the information technology services provider’s stock valued at $278,000 after buying an additional 22 shares during the period. Allworth Financial LP increased its position in shares of Gartner by 2.8% during the fourth quarter. Allworth Financial LP now owns 807 shares of the information technology services provider’s stock valued at $364,000 after buying an additional 22 shares during the period. AdvisorNet Financial Inc increased its position in shares of Gartner by 59.5% during the fourth quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 25 shares during the period. Kolinsky Wealth Management LLC increased its position in shares of Gartner by 3.9% during the third quarter. Kolinsky Wealth Management LLC now owns 720 shares of the information technology services provider’s stock valued at $247,000 after buying an additional 27 shares during the period. Finally, HB Wealth Management LLC increased its position in shares of Gartner by 2.6% in the fourth quarter. HB Wealth Management LLC now owns 1,073 shares of the information technology services provider’s stock worth $484,000 after purchasing an additional 27 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Akhil Jain sold 250 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $464.55, for a total value of $116,137.50. Following the completion of the sale, the executive vice president now owns 5,239 shares of the company’s stock, valued at $2,433,777.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Claire Herkes sold 1,460 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $475.76, for a total transaction of $694,609.60. Following the completion of the transaction, the executive vice president now directly owns 2,842 shares in the company, valued at $1,352,109.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Akhil Jain sold 250 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $464.55, for a total value of $116,137.50. Following the transaction, the executive vice president now owns 5,239 shares of the company’s stock, valued at $2,433,777.45. The disclosure for this sale can be found here. Insiders sold 22,952 shares of company stock valued at $10,598,070 over the last quarter. 3.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on IT shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Gartner in a research report on Tuesday. They issued a “hold” rating and a $507.00 price objective on the stock. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Morgan Stanley increased their price target on shares of Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. UBS Group upgraded shares of Gartner from a “neutral” rating to a “buy” rating and increased their price target for the company from $484.00 to $550.00 in a research report on Thursday, April 11th. Finally, BMO Capital Markets increased their price target on shares of Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a research report on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Gartner presently has an average rating of “Hold” and a consensus price target of $477.60.

Gartner Stock Performance

Shares of IT stock opened at $449.61 on Friday. The stock has a fifty day moving average of $465.53 and a 200 day moving average of $433.82. Gartner, Inc. has a 52 week low of $292.60 and a 52 week high of $486.54. The firm has a market capitalization of $35.06 billion, a price-to-earnings ratio of 40.65, a PEG ratio of 4.10 and a beta of 1.29. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.60.

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, topping analysts’ consensus estimates of $2.83 by $0.21. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter last year, the firm posted $3.70 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. As a group, research analysts expect that Gartner, Inc. will post 11.36 earnings per share for the current year.

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.