Equitable Trust Co. Sells 128 Shares of Gartner, Inc. (NYSE:IT)

Equitable Trust Co. lowered its position in shares of Gartner, Inc. (NYSE:IT) by 5.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,079 shares of the information technology services provider’s stock after selling 128 shares during the period. Equitable Trust Co.’s holdings in Gartner were worth $1,007,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in IT. Eastern Bank purchased a new position in Gartner during the 3rd quarter valued at about $26,000. Ashton Thomas Securities LLC purchased a new position in Gartner during the 3rd quarter valued at about $44,000. True Wealth Design LLC increased its holdings in 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 valued at $50,000 after purchasing an additional 94 shares during the period. Fortitude Family Office LLC increased its holdings in Gartner by 23.8% during the 3rd 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 increased its holdings in 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 purchasing an additional 47 shares during the period. Institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Morgan Stanley reduced their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft upped their target price on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $525.00 to $600.00 in a report on Friday, January 10th. Finally, Robert W. Baird upped their target price on Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $552.63.

Gartner Stock Performance

Gartner stock opened at $528.74 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. The company has a market capitalization of $40.78 billion, a P/E ratio of 32.98, a PEG ratio of 3.50 and a beta of 1.34. The stock’s 50 day moving average is $510.16 and its 200 day moving average is $507.55. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $584.01.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, topping the consensus estimate of $3.22 by $2.23. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. Gartner had a return on equity of 136.32% and a net margin of 20.00%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.04 EPS. On average, equities research analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Activity at Gartner

In related news, Director James C. Smith sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $524.02, for a total value of $2,620,100.00. Following the transaction, the director now directly owns 509,457 shares of the company’s stock, valued at approximately $266,965,657.14. This represents a 0.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Claire Herkes sold 411 shares of the company’s stock in a transaction that occurred on 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 directly owns 1,494 shares in the company, valued at $778,732.56. This trade represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,600 shares of company stock valued at $2,933,279. 3.60% of the stock is owned by corporate 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.