MassMutual Private Wealth & Trust FSB Sells 313 Shares of Gartner, Inc. (NYSE:IT)

MassMutual Private Wealth & Trust FSB cut its holdings in shares of Gartner, Inc. (NYSE:IT) by 12.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,245 shares of the information technology services provider’s stock after selling 313 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Gartner were worth $1,088,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Eastern Bank bought a new stake in shares of Gartner during the 3rd quarter valued at $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 position in shares of Gartner by 2,350.0% during the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after buying an additional 94 shares during the period. Fortitude Family Office LLC lifted its holdings in shares of Gartner by 23.8% in the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after buying an additional 20 shares in the last quarter. Finally, Asset Dedication LLC boosted its position in shares of Gartner by 46.5% in the third 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 period. Institutional investors own 91.51% of the company’s stock.

Insider Activity

In other Gartner news, EVP William James Wartinbee III sold 189 shares of the firm’s stock in a transaction 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 owns 7,311 shares of the company’s stock, valued at $3,827,600.94. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James C. Smith sold 17,533 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $547.09, for a total transaction of $9,592,128.97. Following the transaction, the director now directly owns 532,294 shares of the company’s stock, valued at approximately $291,212,724.46. This trade represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,583 shares of company stock valued at $19,241,974. 3.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

IT has been the topic of a number of analyst reports. Barclays raised shares of 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. Deutsche Bank Aktiengesellschaft upped their price target on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Robert W. Baird upped their target price on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company dropped their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Gartner presently has an average rating of “Hold” and a consensus price target of $550.75.

Gartner Price Performance

Shares of Gartner stock opened at $524.78 on Wednesday. The business’s 50-day moving average price is $506.32 and its 200-day moving average price is $499.74. The firm has a market capitalization of $40.48 billion, a PE ratio of 38.70, a price-to-earnings-growth ratio of 2.87 and a beta of 1.33. 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.

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

Gartner 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.