NewEdge Wealth LLC Trims Stake in Gartner, Inc. (NYSE:IT)

NewEdge Wealth LLC cut its stake in Gartner, Inc. (NYSE:IT) by 15.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,447 shares of the information technology services provider’s stock after selling 446 shares during the period. NewEdge Wealth LLC’s holdings in Gartner were worth $1,185,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in shares of Gartner in the 4th quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Gartner during the 3rd quarter valued at $44,000. True Wealth Design LLC grew its position in shares of Gartner by 2,350.0% in the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after buying an additional 94 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Gartner in the 3rd quarter worth about $77,000. Finally, Global Retirement Partners LLC lifted its position in Gartner by 14.0% during the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock valued at $134,000 after acquiring an additional 34 shares during the period. 91.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a report on Friday, January 10th. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft raised their price objective on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. Finally, Morgan Stanley reduced their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $552.63.

Insiders Place Their Bets

In other Gartner news, Director Eileen Serra sold 1,200 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the transaction, the director now directly owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP John J. Rinello sold 90 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at $1,728,932.09. The trade was a 2.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,479 shares of company stock valued at $734,419. Company insiders own 3.60% of the company’s stock.

Gartner Stock Up 1.5 %

IT stock opened at $498.63 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $584.01. The stock has a market capitalization of $38.30 billion, a P/E ratio of 31.11, a P/E/G ratio of 3.30 and a beta of 1.34. The business has a fifty day moving average price of $510.13 and a 200-day moving average price of $509.84.

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