Gartner, Inc. (NYSE:IT) Shares Sold by Tranquility Partners LLC

Tranquility Partners LLC cut its position in Gartner, Inc. (NYSE:IT) by 2.1% during the third quarter, HoldingsChannel.com reports. The fund owned 1,138 shares of the information technology services provider’s stock after selling 25 shares during the period. Tranquility Partners LLC’s holdings in Gartner were worth $577,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Eastern Bank acquired a new position in Gartner during the third quarter worth $26,000. Crewe Advisors LLC boosted its position in shares of Gartner by 223.3% during the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after acquiring an additional 67 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Gartner during the 3rd quarter valued at about $44,000. Fortitude Family Office LLC grew its holdings in shares of Gartner by 23.8% in the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after purchasing an additional 20 shares during the period. Finally, Asset Dedication LLC raised its stake in Gartner by 46.5% during the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock worth $75,000 after purchasing an additional 47 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IT. Barclays increased their price target on shares of Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. UBS Group raised their target price on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets upped their price target on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Morgan Stanley upped their target price on shares of Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Finally, Bank of America increased their target price on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Gartner currently has a consensus rating of “Hold” and a consensus price target of $539.25.

Gartner Stock Performance

Shares of IT opened at $520.73 on Tuesday. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $559.00. The stock has a market capitalization of $40.16 billion, a PE ratio of 38.40, a PEG ratio of 3.27 and a beta of 1.32. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50-day simple moving average of $518.32 and a 200-day simple moving average of $478.34.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the firm earned $2.56 earnings per share. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. On average, analysts predict that Gartner, Inc. will post 11.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Gartner news, EVP Yvonne Genovese sold 443 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $483.62, for a total transaction of $214,243.66. Following the sale, the executive vice president now owns 1,959 shares of the company’s stock, valued at approximately $947,411.58. This trade represents a 18.44 % 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 link. Also, Director James C. Smith sold 2,450 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $554.68, for a total transaction of $1,358,966.00. Following the completion of the transaction, the director now directly owns 529,844 shares in the company, valued at $293,893,869.92. This trade represents a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,172 shares of company stock worth $38,023,255. Corporate insiders own 3.60% of the company’s stock.

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.