Massachusetts Financial Services Co. MA Sells 251,075 Shares of Gartner, Inc. (NYSE:IT)

Massachusetts Financial Services Co. MA decreased its holdings in Gartner, Inc. (NYSE:IT) by 8.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,883,366 shares of the information technology services provider’s stock after selling 251,075 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Gartner were worth $1,461,175,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. Lake Street Advisors Group LLC bought a new position in shares of Gartner in the first quarter worth approximately $304,000. Vident Advisory LLC boosted its holdings in Gartner by 543.2% in the first quarter. Vident Advisory LLC now owns 9,178 shares of the information technology services provider’s stock worth $4,375,000 after purchasing an additional 7,751 shares during the last quarter. CreativeOne Wealth LLC purchased a new stake in Gartner in the first quarter worth approximately $222,000. Toronto Dominion Bank grew its position in Gartner by 79.7% in the 1st quarter. Toronto Dominion Bank now owns 86,899 shares of the information technology services provider’s stock worth $41,422,000 after purchasing an additional 38,529 shares during the period. Finally, Magnetar Financial LLC purchased a new stake in Gartner during the 1st quarter valued at $1,049,000. Institutional investors own 91.51% of the company’s stock.

Gartner Trading Up 0.1 %

IT stock opened at $518.00 on Thursday. The firm has a market cap of $39.95 billion, a PE ratio of 38.20, a price-to-earnings-growth ratio of 3.23 and a beta of 1.32. The firm has a fifty day moving average price of $519.61 and a 200 day moving average price of $479.95. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $559.00.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.56 EPS. Sell-side analysts anticipate that Gartner, Inc. will post 11.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Gartner news, Director James C. Smith sold 2,450 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $554.68, for a total value of $1,358,966.00. Following the transaction, the director now directly owns 529,844 shares in the company, valued at $293,893,869.92. This represents a 0.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eugene A. Hall sold 34,060 shares of Gartner stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the sale, the chief executive officer now directly owns 1,143,401 shares of the company’s stock, valued at $577,874,865.40. This represents a 2.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,172 shares of company stock valued at $38,023,255. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on IT shares. BMO Capital Markets lifted their price objective on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Barclays raised their price objective on shares of Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Robert W. Baird boosted their price objective on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Wells Fargo & Company raised their target price on shares of Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Finally, UBS Group upped their price target on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $539.25.

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.