Gartner, Inc. (NYSE:IT) Shares Sold by Trust Point Inc.

Trust Point Inc. trimmed its position in Gartner, Inc. (NYSE:IT) by 21.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 677 shares of the information technology services provider’s stock after selling 190 shares during the period. Trust Point Inc.’s holdings in Gartner were worth $284,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Gartner during the fourth quarter valued at approximately $460,541,000. Madison Investment Advisors LLC purchased a new position in shares of Gartner during the 4th quarter worth $244,799,000. GAMMA Investing LLC lifted its stake in shares of Gartner by 40,841.0% during the 1st quarter. GAMMA Investing LLC now owns 499,071 shares of the information technology services provider’s stock worth $209,480,000 after purchasing an additional 497,852 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Gartner during the fourth quarter worth $165,476,000. Finally, BNP Paribas Financial Markets grew its position in shares of Gartner by 184.6% in the fourth quarter. BNP Paribas Financial Markets now owns 390,472 shares of the information technology services provider’s stock valued at $189,172,000 after purchasing an additional 253,288 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IT. Wells Fargo & Company reduced their target price on Gartner from $401.00 to $400.00 and set an “underweight” rating on the stock in a research report on Thursday, May 1st. Barclays cut their price objective on shares of Gartner from $510.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Robert W. Baird lowered their target price on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a report on Friday, March 21st. The Goldman Sachs Group dropped their price target on shares of Gartner from $622.00 to $535.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Finally, Wall Street Zen lowered shares of Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Gartner has an average rating of “Hold” and a consensus target price of $518.67.

Gartner Price Performance

Gartner stock opened at $404.64 on Wednesday. The firm has a fifty day moving average of $423.92 and a 200-day moving average of $464.99. Gartner, Inc. has a 52-week low of $366.05 and a 52-week high of $584.01. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $31.15 billion, a P/E ratio of 25.18, a PEG ratio of 2.65 and a beta of 1.23.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.26. Gartner had a net margin of 19.82% and a return on equity of 96.70%. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the company earned $2.93 EPS. The firm’s revenue was up 4.2% on a year-over-year basis. As a group, analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Transactions at Gartner

In other Gartner news, EVP William James Wartinbee III sold 538 shares of Gartner stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $449.09, for a total transaction of $241,610.42. Following the sale, the executive vice president now directly owns 7,965 shares in the company, valued at $3,577,001.85. The trade was a 6.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John J. Rinello sold 109 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total value of $47,562.15. Following the completion of the transaction, the senior vice president now directly owns 3,280 shares in the company, valued at approximately $1,431,228. The trade was a 3.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,426 shares of company stock valued at $2,430,327 over the last quarter. Company insiders own 3.60% of the company’s stock.

About Gartner

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.