Gartner, Inc. (NYSE:IT) Stake Cut by SVB Wealth LLC

SVB Wealth LLC reduced its holdings in Gartner, Inc. (NYSE:IT) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,348 shares of the information technology services provider’s stock after selling 83 shares during the period. SVB Wealth LLC’s holdings in Gartner were worth $3,503,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Frazier Financial Advisors LLC acquired a new stake in Gartner in the 4th quarter valued at approximately $27,000. MCF Advisors LLC acquired a new stake in shares of Gartner during the 4th quarter worth approximately $27,000. AdvisorNet Financial Inc lifted its position in shares of Gartner by 59.5% during the 4th quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock worth $30,000 after buying an additional 25 shares during the period. DSM Capital Partners LLC bought a new position in shares of Gartner during the 4th quarter worth approximately $32,000. Finally, Central Pacific Bank Trust Division bought a new position in shares of Gartner during the 1st quarter worth approximately $36,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Trading Down 0.0 %

Shares of NYSE IT traded down $0.08 during midday trading on Monday, hitting $470.84. The stock had a trading volume of 476,603 shares, compared to its average volume of 402,601. The company’s 50-day simple moving average is $446.18 and its 200 day simple moving average is $454.07. The firm has a market cap of $36.55 billion, a P/E ratio of 46.85, a price-to-earnings-growth ratio of 4.08 and a beta of 1.33. Gartner, Inc. has a fifty-two week low of $323.61 and a fifty-two week 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 announced its quarterly earnings data 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. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.88 earnings per share. Research analysts anticipate that Gartner, Inc. will post 11.63 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. BMO Capital Markets cut their target price on Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. Morgan Stanley lifted their price objective on Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft began coverage on Gartner in a research report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price objective for the company. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Robert W. Baird cut their price objective on Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Gartner currently has an average rating of “Hold” and an average price target of $478.50.

Insiders Place Their Bets

In related news, EVP Yvonne Genovese sold 439 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $456.13, for a total transaction of $200,241.07. Following the completion of the transaction, the executive vice president now directly owns 1,959 shares in the company, valued at $893,558.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Gartner news, Director James C. Smith sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $439.29, for a total value of $4,392,900.00. Following the completion of the transaction, the director now directly owns 599,074 shares in the company, valued at $263,167,217.46. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Yvonne Genovese sold 439 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $456.13, for a total value of $200,241.07. Following the completion of the transaction, the executive vice president now owns 1,959 shares of the company’s stock, valued at $893,558.67. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,544 shares of company stock worth $10,079,813. Corporate insiders own 3.60% of the company’s stock.

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.