Graypoint LLC Cuts Stake in Gartner, Inc. (NYSE:IT)

Graypoint LLC cut its stake in Gartner, Inc. (NYSE:IT) by 19.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 985 shares of the information technology services provider’s stock after selling 234 shares during the quarter. Graypoint LLC’s holdings in Gartner were worth $477,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of IT. Baron Wealth Management LLC lifted its position in shares of Gartner by 4.1% in the third quarter. Baron Wealth Management LLC now owns 481 shares of the information technology services provider’s stock valued at $244,000 after acquiring an additional 19 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in Gartner by 23.8% in 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 in the last quarter. Moors & Cabot Inc. boosted its stake in Gartner by 3.0% during the 2nd quarter. Moors & Cabot Inc. now owns 763 shares of the information technology services provider’s stock worth $343,000 after purchasing an additional 22 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Gartner by 2.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 917 shares of the information technology services provider’s stock worth $444,000 after buying an additional 22 shares in the last quarter. Finally, Wallace Advisory Group LLC raised its position in shares of Gartner by 2.4% in the second quarter. Wallace Advisory Group LLC now owns 980 shares of the information technology services provider’s stock valued at $440,000 after buying an additional 23 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP William James Wartinbee III sold 189 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $523.54, for a total transaction of $98,949.06. Following the sale, the executive vice president now owns 7,311 shares of the company’s stock, valued at approximately $3,827,600.94. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James C. Smith sold 2,450 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $554.68, for a total transaction of $1,358,966.00. Following the sale, the director now directly owns 529,844 shares in the company, valued at approximately $293,893,869.92. The trade was a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,583 shares of company stock worth $19,241,974 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on IT shares. Robert W. Baird boosted their price target 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. Deutsche Bank Aktiengesellschaft upped their price target on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Wells Fargo & Company reduced their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research report on Friday. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $525.00 to $600.00 in a report on Friday. Finally, Morgan Stanley lifted their price target on Gartner from $560.00 to $564.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Gartner has a consensus rating of “Hold” and an average target price of $551.88.

Gartner Stock Down 1.3 %

Shares of IT opened at $488.91 on Friday. The company’s 50-day moving average price is $509.76 and its 200 day moving average price is $496.27. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $559.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The firm has a market cap of $37.71 billion, a P/E ratio of 36.06, a price-to-earnings-growth ratio of 3.18 and a beta of 1.33.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.56 EPS. On average, sell-side analysts forecast that Gartner, Inc. will post 11.87 earnings per share for the current year.

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.