Gartner, Inc. (NYSE:IT) Shares Sold by Tranquility Partners LLC

Tranquility Partners LLC cut its stake in Gartner, Inc. (NYSE:IT) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,106 shares of the information technology services provider’s stock after selling 32 shares during the quarter. Tranquility Partners LLC’s holdings in Gartner were worth $536,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IT. Assenagon Asset Management S.A. lifted its position in Gartner by 208.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 272,267 shares of the information technology services provider’s stock worth $131,905,000 after buying an additional 183,974 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Gartner during the 3rd quarter worth $70,955,000. Principal Financial Group Inc. raised its holdings in shares of Gartner by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after acquiring an additional 103,814 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Gartner during the third quarter worth about $36,789,000. Finally, JPMorgan Chase & Co. raised its stake in Gartner by 7.3% during the third quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock worth $525,272,000 after purchasing an additional 70,236 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Gartner news, Director James C. Smith sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $524.02, for a total value of $2,620,100.00. Following the sale, the director now directly owns 509,457 shares of the company’s stock, valued at approximately $266,965,657.14. This represents a 0.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,690 shares of company stock worth $2,981,025 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Gartner Price Performance

IT opened at $514.02 on Thursday. The firm has a market cap of $39.65 billion, a price-to-earnings ratio of 32.07, a PEG ratio of 3.50 and a beta of 1.34. 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 stock’s 50-day moving average price is $510.12 and its 200 day moving average price is $507.95. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $584.01.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating the consensus estimate of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 136.32%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the firm posted $3.04 earnings per share. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, sell-side analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on IT. Wells Fargo & Company dropped their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft increased their price objective on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Robert W. Baird lifted their target price on Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Morgan Stanley cut their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Gartner presently has an average rating of “Hold” and a consensus target price of $552.63.

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.