Gartner, Inc. (NYSE:IT) Stake Lessened by Capital Asset Advisory Services LLC

Capital Asset Advisory Services LLC reduced its stake in shares of Gartner, Inc. (NYSE:IT) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 590 shares of the information technology services provider’s stock after selling 34 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Gartner were worth $287,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Eastern Bank acquired a new stake in shares of Gartner during the 3rd quarter valued at about $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Gartner in the third quarter worth about $44,000. True Wealth Design LLC boosted its stake in shares of Gartner by 2,350.0% during the 3rd 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 in the last quarter. Fortitude Family Office LLC boosted its stake in shares of Gartner by 23.8% during the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after acquiring an additional 20 shares in the last quarter. Finally, Asset Dedication LLC increased its holdings in shares of Gartner by 46.5% during the 3rd quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock valued at $75,000 after acquiring an additional 47 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Stock Performance

NYSE:IT opened at $537.45 on Tuesday. The firm’s 50-day moving average is $505.97 and its 200-day moving average is $502.00. The company has a market cap of $41.46 billion, a price-to-earnings ratio of 39.63, a PEG ratio of 2.92 and a beta of 1.33. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $559.00.

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, beating the consensus estimate of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the company posted $2.56 earnings per share. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that Gartner, Inc. will post 11.87 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Claire Herkes sold 411 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total value of $214,229.64. Following the completion of the transaction, the executive vice president now owns 1,494 shares of the company’s stock, valued at $778,732.56. This represents a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP William James Wartinbee III sold 189 shares of Gartner stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $523.54, for a total value of $98,949.06. Following the sale, the executive vice president now directly owns 7,311 shares in the company, valued at $3,827,600.94. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,583 shares of company stock valued at $19,241,974 over the last ninety days. 3.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on IT shares. Wells Fargo & Company reduced their target price on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research note on Monday. Robert W. Baird boosted their target price on shares of Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley lowered their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $550.75.

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.