Alliancebernstein L.P. Sells 5,698 Shares of Gartner, Inc. (NYSE:IT)

Alliancebernstein L.P. cut its holdings in Gartner, Inc. (NYSE:IT) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 794,385 shares of the information technology services provider’s stock after selling 5,698 shares during the period. Alliancebernstein L.P. owned approximately 1.03% of Gartner worth $384,856,000 at the end of the most recent reporting period.

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

Gartner Stock Performance

NYSE:IT opened at $420.00 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The firm has a 50-day moving average price of $492.25 and a 200 day moving average price of $505.01. The firm has a market capitalization of $32.26 billion, a PE ratio of 26.20, a price-to-earnings-growth 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 posted its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, topping the consensus estimate of $3.22 by $2.23. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the company earned $3.04 EPS. Gartner’s revenue was up 8.1% on a year-over-year basis. Research analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IT has been the subject of several recent analyst reports. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Wells Fargo & Company lowered their price objective 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. Morgan Stanley cut their target price 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. Robert W. Baird dropped their price objective on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. One equities 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.com, the stock has an average rating of “Hold” and a consensus price target of $536.63.

Insider Transactions at Gartner

In other Gartner news, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the transaction, the senior vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the firm’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 completion of the sale, the director now owns 1,627 shares of the company’s stock, valued at approximately $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 owned by 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.