Gartner, Inc. (NYSE:IT) Holdings Lowered by Progressive Investment Management Corp

Progressive Investment Management Corp reduced its position in Gartner, Inc. (NYSE:IT) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,756 shares of the information technology services provider’s stock after selling 784 shares during the period. Gartner comprises 3.7% of Progressive Investment Management Corp’s investment portfolio, making the stock its 8th biggest position. Progressive Investment Management Corp’s holdings in Gartner were worth $14,416,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Howard Capital Management Inc. grew its position in shares of Gartner by 4.4% in the fourth quarter. Howard Capital Management Inc. now owns 452 shares of the information technology services provider’s stock valued at $219,000 after purchasing an additional 19 shares during the last quarter. Gilbert & Cook Inc. lifted its stake in Gartner by 1.5% in the 4th quarter. Gilbert & Cook Inc. now owns 1,364 shares of the information technology services provider’s stock valued at $661,000 after buying an additional 20 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in Gartner by 2.5% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 826 shares of the information technology services provider’s stock valued at $400,000 after buying an additional 20 shares during the last quarter. Parallel Advisors LLC increased its position in Gartner by 2.9% during the fourth quarter. Parallel Advisors LLC now owns 737 shares of the information technology services provider’s stock worth $357,000 after buying an additional 21 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Gartner by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 917 shares of the information technology services provider’s stock worth $444,000 after acquiring an additional 22 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Gartner 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 value of $587,724.00. Following the transaction, the director now owns 1,627 shares in the company, valued at $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 available 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 shares were sold at an average price of $530.51, for a total transaction 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. The trade was a 2.69 % 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.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wells Fargo & Company dropped their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. Robert W. Baird lowered their price target on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $525.00 to $600.00 in a research note on Friday, January 10th. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Gartner has a consensus rating of “Hold” and a consensus price target of $536.63.

Gartner Trading Down 1.5 %

Shares of IT opened at $418.57 on Friday. Gartner, Inc. has a twelve month low of $409.50 and a twelve month high of $584.01. The firm has a market capitalization of $32.15 billion, a P/E ratio of 26.11, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock’s fifty day simple moving average is $494.18 and its 200 day simple moving average is $505.53.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the previous year, the firm earned $3.04 earnings per share. Gartner’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities research analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current year.

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.