United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Lowers Stock Position in Gartner, Inc. (NYSE:IT)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund reduced its stake in Gartner, Inc. (NYSE:IT) by 95.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,600 shares of the information technology services provider’s stock after selling 34,457 shares during the quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in Gartner were worth $775,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Kestra Investment Management LLC bought a new stake in Gartner in the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. purchased a new position in shares of Gartner in the fourth quarter valued at $49,000. True Wealth Design LLC increased its position in Gartner by 2,350.0% in the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after purchasing an additional 94 shares during the last quarter. Promus Capital LLC purchased a new stake in Gartner during the fourth quarter valued at $57,000. Finally, Global Retirement Partners LLC lifted its position in Gartner by 14.0% during the fourth quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock valued at $134,000 after purchasing an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Activity

In other news, Director Eileen Serra sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the sale, the director now owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. This represents a 42.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the transaction, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IT. UBS Group reduced their target price on shares of Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a report on Tuesday. Robert W. Baird decreased their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Wells Fargo & Company dropped their target price on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $525.00 to $600.00 in a research report on Friday, January 10th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $536.63.

Gartner Stock Performance

Shares of Gartner stock opened at $421.46 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock’s fifty day moving average is $499.54 and its two-hundred day moving average is $507.17. Gartner, Inc. has a 52 week low of $409.50 and a 52 week high of $584.01. The company has a market capitalization of $32.38 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $2.23. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.04 earnings per share. As a group, analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current 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.