Gartner, Inc. (NYSE:IT) Position Lowered by Taikang Asset Management Hong Kong Co Ltd

Taikang Asset Management Hong Kong Co Ltd reduced its position in Gartner, Inc. (NYSE:IT) by 21.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,148 shares of the information technology services provider’s stock after selling 1,424 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd’s holdings in Gartner were worth $2,494,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kestra Investment Management LLC bought a new position in shares of Gartner in the 4th quarter worth about $29,000. True Wealth Design LLC lifted its holdings in Gartner by 2,350.0% in 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 during the last quarter. SBI Securities Co. Ltd. bought a new position in Gartner in the fourth quarter worth about $49,000. Promus Capital LLC acquired a new position in Gartner in the fourth quarter valued at approximately $57,000. Finally, Global Retirement Partners LLC raised its position in shares of Gartner by 14.0% during the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock worth $134,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on IT shares. Morgan Stanley reduced 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. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $525.00 to $600.00 in a report on Friday, January 10th. Wells Fargo & Company reduced their target price 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. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $546.63.

Gartner Price Performance

NYSE IT opened at $429.69 on Tuesday. The company’s 50 day simple moving average is $501.11 and its 200 day simple moving average is $507.61. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market capitalization of $33.01 billion, a PE ratio of 26.81, a P/E/G ratio of 3.30 and a beta of 1.29. Gartner, Inc. has a 12 month low of $409.50 and a 12 month high of $584.01.

Gartner (NYSE:IT) last announced its 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 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 company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business posted $3.04 earnings per share. As a group, equities research analysts forecast that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Activity

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

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.