Gartner, Inc. (NYSE:IT) Stock Position Decreased by McCollum Christoferson Group LLC

McCollum Christoferson Group LLC lessened its stake in shares of Gartner, Inc. (NYSE:IT) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,823 shares of the information technology services provider’s stock after selling 219 shares during the period. Gartner makes up about 3.7% of McCollum Christoferson Group LLC’s investment portfolio, making the stock its 7th largest holding. McCollum Christoferson Group LLC’s holdings in Gartner were worth $12,510,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in IT. Czech National Bank grew its holdings in shares of Gartner by 6.5% during the fourth quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock valued at $8,103,000 after buying an additional 1,028 shares during the last quarter. Entropy Technologies LP bought a new position in Gartner in the 4th quarter valued at approximately $366,000. D.A. Davidson & CO. boosted its stake in Gartner by 2.6% during the 4th quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider’s stock valued at $551,000 after purchasing an additional 29 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of Gartner by 1.5% in the 4th quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider’s stock worth $15,322,000 after purchasing an additional 480 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Gartner by 8.6% in the 3rd quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock worth $84,520,000 after purchasing an additional 13,205 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on IT. Robert W. Baird dropped their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research report on Friday. Morgan Stanley reduced their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday. Wells Fargo & Company cut their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. Finally, Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $525.00 to $600.00 in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $546.63.

Gartner Price Performance

Shares of Gartner stock opened at $430.03 on Monday. Gartner, Inc. has a one year low of $409.50 and a one year high of $584.01. The stock’s fifty day moving average is $502.37 and its 200 day moving average is $507.99. The stock has a market cap of $33.03 billion, a P/E ratio of 26.83, a P/E/G ratio of 3.30 and a beta of 1.29. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $2.23. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.04 earnings per share. Sell-side analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insiders Place Their Bets

In other Gartner news, Director Eileen Serra sold 1,200 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the sale, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. This represents 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 company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.

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.