Pallas Capital Advisors LLC Sells 69 Shares of Gartner, Inc. (NYSE:IT)

Pallas Capital Advisors LLC decreased its position in shares of Gartner, Inc. (NYSE:IT) by 4.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,609 shares of the information technology services provider’s stock after selling 69 shares during the period. Pallas Capital Advisors LLC’s holdings in Gartner were worth $739,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dakota Wealth Management grew its holdings in shares of Gartner by 8.6% in the second quarter. Dakota Wealth Management now owns 9,812 shares of the information technology services provider’s stock valued at $4,406,000 after purchasing an additional 780 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Gartner by 8.0% in the second quarter. First Horizon Advisors Inc. now owns 1,148 shares of the information technology services provider’s stock valued at $516,000 after purchasing an additional 85 shares in the last quarter. Western Financial Corp CA grew its holdings in shares of Gartner by 2.1% in the second quarter. Western Financial Corp CA now owns 2,253 shares of the information technology services provider’s stock valued at $1,012,000 after purchasing an additional 47 shares in the last quarter. OFI Invest Asset Management boosted its stake in Gartner by 10,298.5% during the second quarter. OFI Invest Asset Management now owns 7,071 shares of the information technology services provider’s stock worth $2,963,000 after buying an additional 7,003 shares during the period. Finally, TCW Group Inc. boosted its stake in Gartner by 6.7% during the second quarter. TCW Group Inc. now owns 207,976 shares of the information technology services provider’s stock worth $93,394,000 after buying an additional 13,016 shares during the period. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on IT. Morgan Stanley lifted their target price on Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Robert W. Baird lifted their target price on Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. BMO Capital Markets lifted their target price on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Bank of America lifted their target price on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, UBS Group lifted their price objective on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $521.00.

Insiders Place Their Bets

In other news, Director Anne Sutherland Fuchs sold 705 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $428.99, for a total transaction of $302,437.95. Following the sale, the director now owns 8,524 shares in the company, valued at $3,656,710.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Anne Sutherland Fuchs sold 705 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $428.99, for a total transaction of $302,437.95. Following the sale, the director now owns 8,524 shares in the company, valued at $3,656,710.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alwyn Dawkins sold 1,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $505.49, for a total value of $505,490.00. Following the sale, the executive vice president now owns 56,650 shares in the company, valued at approximately $28,636,008.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,680 shares of company stock worth $15,581,792. 3.60% of the stock is owned by corporate insiders.

Gartner Stock Down 0.9 %

Gartner stock traded down $4.18 during trading hours on Wednesday, reaching $479.68. The stock had a trading volume of 22,169 shares, compared to its average volume of 399,035. The company has a market cap of $37.24 billion, a price-to-earnings ratio of 48.15, a PEG ratio of 3.80 and a beta of 1.33. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.91. The business’s 50 day moving average price is $461.26 and its 200-day moving average price is $456.27. Gartner, Inc. has a 52 week low of $323.61 and a 52 week high of $509.15.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.85 earnings per share. Sell-side analysts anticipate that Gartner, Inc. will post 11.58 EPS for the current 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.