Intellectus Partners LLC Lowers Stock Position in Gartner, Inc. (NYSE:IT)

Intellectus Partners LLC reduced its stake in Gartner, Inc. (NYSE:IT) by 27.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,046 shares of the information technology services provider’s stock after selling 393 shares during the quarter. Intellectus Partners LLC’s holdings in Gartner were worth $507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Kestra Investment Management LLC purchased a new position in shares of Gartner during the fourth quarter worth approximately $29,000. Ashton Thomas Securities LLC purchased a new position in shares of Gartner during the third quarter worth approximately $44,000. SBI Securities Co. Ltd. purchased a new position in shares of Gartner during the fourth quarter worth approximately $49,000. True Wealth Design LLC raised its stake in shares of Gartner by 2,350.0% during the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after acquiring an additional 94 shares in the last quarter. Finally, Promus Capital LLC purchased a new position in shares of Gartner during the fourth quarter worth approximately $57,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Gartner

In other news, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the sale, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. The trade was a 42.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now owns 3,259 shares in the company, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on IT. Wells Fargo & Company decreased their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. Robert W. Baird raised their target price on shares of Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Morgan Stanley cut their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Finally, StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $552.63.

Gartner Stock Performance

NYSE:IT opened at $482.18 on Friday. The stock has a market cap of $37.04 billion, a P/E ratio of 30.08, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29. The firm’s fifty day simple moving average is $509.85 and its 200 day simple moving average is $509.97. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $584.01. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating the consensus estimate of $3.22 by $2.23. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.04 earnings per share. As a group, research analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

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.