Gartner, Inc. (NYSE:IT) Stake Cut by PGGM Investments

PGGM Investments reduced its holdings in Gartner, Inc. (NYSE:IT) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,247 shares of the information technology services provider’s stock after selling 2,459 shares during the period. PGGM Investments owned about 0.05% of Gartner worth $19,058,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. BSW Wealth Partners raised its stake in shares of Gartner by 3.7% during the 4th quarter. BSW Wealth Partners now owns 617 shares of the information technology services provider’s stock worth $278,000 after purchasing an additional 22 shares in the last quarter. Allworth Financial LP raised its stake in shares of Gartner by 2.8% during the 4th quarter. Allworth Financial LP now owns 807 shares of the information technology services provider’s stock worth $364,000 after purchasing an additional 22 shares in the last quarter. AdvisorNet Financial Inc raised its stake in shares of Gartner by 59.5% during the 4th quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 25 shares in the last quarter. Kolinsky Wealth Management LLC raised its stake in shares of Gartner by 3.9% during the 3rd quarter. Kolinsky Wealth Management LLC now owns 720 shares of the information technology services provider’s stock worth $247,000 after purchasing an additional 27 shares in the last quarter. Finally, HB Wealth Management LLC raised its stake in shares of Gartner by 2.6% during the 4th quarter. HB Wealth Management LLC now owns 1,073 shares of the information technology services provider’s stock worth $484,000 after purchasing an additional 27 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Valentin Sribar sold 682 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $453.00, for a total transaction of $308,946.00. Following the transaction, the executive vice president now owns 12,269 shares of the company’s stock, valued at $5,557,857. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Valentin Sribar sold 682 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the sale, the executive vice president now owns 12,269 shares in the company, valued at $5,557,857. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Akhil Jain sold 250 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $464.55, for a total value of $116,137.50. Following the completion of the sale, the executive vice president now owns 5,239 shares of the company’s stock, valued at approximately $2,433,777.45. The disclosure for this sale can be found here. Insiders have sold 22,952 shares of company stock valued at $10,598,070 over the last 90 days. 3.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

IT has been the topic of a number of analyst reports. BMO Capital Markets increased their price objective on Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a report on Thursday, February 8th. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. Morgan Stanley raised their target price on Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Gartner in a research report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price objective for the company. Finally, UBS Group upgraded Gartner from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $484.00 to $550.00 in a research report on Thursday, April 11th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Gartner has a consensus rating of “Hold” and an average price target of $477.60.

Gartner Price Performance

Gartner stock traded up $2.47 on Friday, reaching $448.78. The company’s stock had a trading volume of 292,240 shares, compared to its average volume of 324,262. The company has a debt-to-equity ratio of 3.60, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $34.99 billion, a price-to-earnings ratio of 40.58, a PEG ratio of 4.10 and a beta of 1.29. The business’s fifty day moving average price is $464.87 and its 200 day moving average price is $437.88. Gartner, Inc. has a twelve month low of $293.73 and a twelve month high of $486.54.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.21. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.70 earnings per share. Equities analysts expect that Gartner, Inc. will post 11.3 earnings per share for the current fiscal year.

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.