Exencial Wealth Advisors LLC Sells 7,171 Shares of Gartner, Inc. (NYSE:IT)

Exencial Wealth Advisors LLC lessened its holdings in Gartner, Inc. (NYSE:ITGet Rating) by 21.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 26,663 shares of the information technology services provider’s stock after selling 7,171 shares during the period. Exencial Wealth Advisors LLC’s holdings in Gartner were worth $8,914,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in IT. EP Wealth Advisors LLC lifted its position in shares of Gartner by 371,624.8% in the third quarter. EP Wealth Advisors LLC now owns 4,668,863 shares of the information technology services provider’s stock worth $366,000 after purchasing an additional 4,667,607 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Gartner by 13,031.3% in the third quarter. Wellington Management Group LLP now owns 1,635,242 shares of the information technology services provider’s stock worth $496,917,000 after purchasing an additional 1,622,789 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Gartner by 115.5% in the third quarter. Goldman Sachs Group Inc. now owns 1,305,305 shares of the information technology services provider’s stock worth $396,657,000 after purchasing an additional 699,707 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Gartner by 183.5% in the third quarter. Voya Investment Management LLC now owns 874,791 shares of the information technology services provider’s stock worth $265,832,000 after purchasing an additional 566,174 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Gartner in the third quarter worth $135,777,000. 92.05% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Jules Kaufman sold 4,541 shares of the business’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $271.27, for a total value of $1,231,837.07. Following the completion of the sale, the executive vice president now owns 4,641 shares of the company’s stock, valued at $1,258,964.07. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Alwyn Dawkins sold 1,000 shares of the business’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $273.41, for a total transaction of $273,410.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,541 shares of company stock worth $1,802,327. Corporate insiders own 3.60% of the company’s stock.

Shares of NYSE:IT traded up $7.92 on Friday, hitting $255.52. The company had a trading volume of 515,901 shares, compared to its average volume of 559,421. Gartner, Inc. has a 1-year low of $221.50 and a 1-year high of $368.99. The stock has a market cap of $21.03 billion, a price-to-earnings ratio of 26.98 and a beta of 1.50. The stock has a 50 day moving average price of $287.07 and a 200 day moving average price of $300.51. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 20.79.

Gartner (NYSE:ITGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The information technology services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $1.89 by $0.44. Gartner had a net margin of 16.39% and a return on equity of 239.82%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the company earned $2.00 earnings per share. The company’s quarterly revenue was up 14.4% on a year-over-year basis. Sell-side analysts anticipate that Gartner, Inc. will post 8.13 earnings per share for the current fiscal year.

Gartner announced that its board has authorized a stock buyback program on Tuesday, February 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the information technology services provider to buy up to 2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

IT has been the topic of a number of recent analyst reports. Bank of America upgraded shares of Gartner from a “neutral” rating to a “buy” rating and set a $340.00 target price on the stock in a report on Thursday, April 14th. TheStreet downgraded shares of Gartner from a “b” rating to a “c+” rating in a report on Tuesday, May 3rd. Morgan Stanley lowered their target price on shares of Gartner from $357.00 to $339.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 9th. Finally, StockNews.com initiated coverage on shares of Gartner in a report on Thursday, March 31st. They set a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Gartner presently has an average rating of “Buy” and an average target price of $346.50.

Gartner Profile (Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding IT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gartner, Inc. (NYSE:ITGet Rating).

Institutional Ownership by Quarter for Gartner (NYSE:IT)

Receive News & Ratings for Gartner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gartner and related companies with MarketBeat.com's FREE daily email newsletter.