Gartner, Inc. (NYSE:IT) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC lessened its stake in Gartner, Inc. (NYSE:IT) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 607 shares of the information technology services provider’s stock after selling 38 shares during the quarter. Summit Trail Advisors LLC’s holdings in Gartner were worth $274,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in Gartner during the third quarter valued at approximately $25,000. BKM Wealth Management LLC acquired a new position in shares of Gartner during the 4th quarter valued at $26,000. MCF Advisors LLC acquired a new position in shares of Gartner during the 4th quarter valued at $27,000. VisionPoint Advisory Group LLC boosted its position in 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 period. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in Gartner by 357.9% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 87 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Price Performance

Shares of IT stock opened at $434.27 on Thursday. The firm has a fifty day moving average of $460.91 and a two-hundred day moving average of $442.68. The firm has a market cap of $33.86 billion, a P/E ratio of 43.21, a P/E/G ratio of 3.44 and a beta of 1.32. Gartner, Inc. has a 1-year low of $301.78 and a 1-year high of $486.54. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.40. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period last year, the firm earned $2.88 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, research analysts anticipate that Gartner, Inc. will post 11.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on IT. Morgan Stanley upped their target price on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. BMO Capital Markets dropped their price target on shares of Gartner from $450.00 to $432.00 and set a “market perform” rating on the stock in a research note on Thursday, May 2nd. Robert W. Baird decreased their price objective on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft started coverage on Gartner in a research note on Tuesday, April 16th. They set a “hold” rating and a $507.00 target price for the company. Finally, UBS Group cut their price target on Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $474.50.

Insider Activity

In other news, EVP Akhil Jain sold 250 shares of Gartner stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $464.55, for a total value of $116,137.50. Following the completion of the transaction, the executive vice president now directly owns 5,239 shares of the company’s stock, valued at approximately $2,433,777.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Akhil Jain sold 250 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 5,239 shares of the company’s stock, valued at approximately $2,433,777.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James C. Smith sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $459.68, for a total value of $4,596,800.00. Following the transaction, the director now owns 623,235 shares of the company’s stock, valued at $286,488,664.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,952 shares of company stock worth $10,598,070. 3.60% of the stock is currently owned by insiders.

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.