Gartner, Inc. (NYSE:IT) Shares Sold by Grove Bank & Trust

Grove Bank & Trust lowered its stake in Gartner, Inc. (NYSE:IT) by 25.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,437 shares of the information technology services provider’s stock after selling 828 shares during the quarter. Grove Bank & Trust’s holdings in Gartner were worth $1,181,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of IT. Smith Salley Wealth Management grew its holdings in Gartner by 7.6% during the 4th quarter. Smith Salley Wealth Management now owns 5,252 shares of the information technology services provider’s stock valued at $2,545,000 after purchasing an additional 370 shares in the last quarter. Merit Financial Group LLC acquired a new stake in shares of Gartner during the fourth quarter valued at about $772,000. Wedge Capital Management L L P NC increased its position in shares of Gartner by 11.2% during the fourth quarter. Wedge Capital Management L L P NC now owns 132,107 shares of the information technology services provider’s stock worth $64,002,000 after acquiring an additional 13,286 shares during the last quarter. Procyon Advisors LLC lifted its stake in shares of Gartner by 1.5% in the fourth quarter. Procyon Advisors LLC now owns 2,641 shares of the information technology services provider’s stock worth $1,279,000 after acquiring an additional 38 shares in the last quarter. Finally, Occidental Asset Management LLC boosted its holdings in Gartner by 56.5% in the fourth quarter. Occidental Asset Management LLC now owns 690 shares of the information technology services provider’s stock valued at $334,000 after purchasing an additional 249 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Gartner

In related news, EVP William James Wartinbee III sold 189 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $523.54, for a total value of $98,949.06. Following the completion of the transaction, the executive vice president now owns 7,311 shares of the company’s stock, valued at approximately $3,827,600.94. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James C. Smith sold 17,533 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $547.09, for a total transaction of $9,592,128.97. Following the sale, the director now directly owns 532,294 shares in the company, valued at approximately $291,212,724.46. This trade represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,583 shares of company stock valued at $19,241,974 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

Gartner Price Performance

Shares of Gartner stock opened at $516.34 on Friday. Gartner, Inc. has a 52 week low of $411.15 and a 52 week high of $559.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The company’s 50-day moving average price is $507.49 and its two-hundred day moving average price is $498.39. The stock has a market cap of $39.83 billion, a PE ratio of 38.08, a price-to-earnings-growth ratio of 2.72 and a beta of 1.33.

Gartner (NYSE:IT) last released its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.45 by $0.05. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates 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 prior year, the business earned $2.56 earnings per share. As a group, sell-side analysts anticipate that Gartner, Inc. will post 11.87 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on IT. Robert W. Baird lifted their price objective on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $525.00 to $600.00 in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Morgan Stanley decreased their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $550.75.

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.