Fmr LLC Sells 305,098 Shares of Gartner, Inc. (NYSE:IT)

Fmr LLC lowered its position in shares of Gartner, Inc. (NYSE:IT) by 10.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,599,035 shares of the information technology services provider’s stock after selling 305,098 shares during the period. Fmr LLC owned about 3.37% of Gartner worth $1,317,087,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of IT. Brown Brothers Harriman & Co. grew its holdings in shares of Gartner by 43.0% during the third quarter. Brown Brothers Harriman & Co. now owns 722 shares of the information technology services provider’s stock worth $366,000 after purchasing an additional 217 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its position in Gartner by 94.0% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 644 shares of the information technology services provider’s stock worth $326,000 after buying an additional 312 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Gartner during the 3rd quarter worth approximately $651,000. Daiwa Securities Group Inc. grew its holdings in Gartner by 12.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 9,818 shares of the information technology services provider’s stock worth $4,975,000 after acquiring an additional 1,073 shares during the last quarter. Finally, Summit Trail Advisors LLC increased its position in Gartner by 8.0% in the 3rd quarter. Summit Trail Advisors LLC now owns 947 shares of the information technology services provider’s stock valued at $480,000 after acquiring an additional 70 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IT. Morgan Stanley lifted their price target on shares of Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Bank of America raised their price objective on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Finally, UBS Group raised their price target on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $539.25.

Insider Buying and Selling

In other Gartner news, Director James C. Smith sold 2,450 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $554.68, for a total transaction of $1,358,966.00. Following the transaction, the director now owns 529,844 shares in the company, valued at approximately $293,893,869.92. This represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Akhil Jain sold 500 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $492.00, for a total transaction of $246,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,339 shares in the company, valued at $2,134,788. This trade represents a 10.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,729 shares of company stock valued at $37,809,011. 3.60% of the stock is owned by company insiders.

Gartner Stock Performance

Shares of IT stock opened at $523.13 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. Gartner, Inc. has a 52 week low of $411.15 and a 52 week high of $559.00. The firm has a 50 day moving average of $520.24 and a 200-day moving average of $482.02. The company has a market cap of $40.35 billion, a price-to-earnings ratio of 38.58, a price-to-earnings-growth ratio of 3.24 and a beta of 1.32.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.05. The firm had revenue of $1.48 billion during 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.56 earnings per share. On average, equities analysts forecast that Gartner, Inc. will post 11.89 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.