Rehmann Capital Advisory Group Sells 32 Shares of Gartner, Inc. (NYSE:IT)

Rehmann Capital Advisory Group lowered its position in Gartner, Inc. (NYSE:IT) by 4.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 617 shares of the information technology services provider’s stock after selling 32 shares during the period. Rehmann Capital Advisory Group’s holdings in Gartner were worth $314,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sustainable Growth Advisers LP acquired a new stake in shares of Gartner in the second quarter valued at approximately $266,541,000. Principal Financial Group Inc. grew its position in shares of Gartner by 22.0% during the 2nd quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock worth $852,014,000 after buying an additional 341,911 shares during the period. Point72 Asset Management L.P. acquired a new position in Gartner in the third quarter valued at approximately $70,955,000. Natixis Advisors LLC boosted its stake in Gartner by 117.4% in the second quarter. Natixis Advisors LLC now owns 200,097 shares of the information technology services provider’s stock valued at $89,856,000 after acquiring an additional 108,061 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Gartner during the 3rd quarter worth $36,789,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Robert W. Baird upped their price target on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Barclays upped their target price on shares of Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley increased their target price on shares of Gartner from $560.00 to $564.00 and gave the stock an “equal weight” rating in a report on Thursday. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company lifted their target price on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $543.75.

Insiders Place Their Bets

In other Gartner news, EVP Claire Herkes sold 411 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total transaction of $214,229.64. Following the completion of the transaction, the executive vice president now owns 1,494 shares in the company, valued at approximately $778,732.56. This trade represents a 21.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William James Wartinbee III sold 189 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $523.54, for a total transaction of $98,949.06. Following the completion of the sale, the executive vice president now directly owns 7,311 shares in the company, valued at approximately $3,827,600.94. This represents a 2.52 % 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 valued at $19,241,974 in the last ninety days. 3.60% of the stock is currently owned by insiders.

Gartner Price Performance

IT stock opened at $514.20 on Friday. The company’s 50-day moving average price is $522.24 and its two-hundred day moving average price is $488.03. The firm has a market cap of $39.66 billion, a P/E ratio of 37.92, a P/E/G ratio of 3.24 and a beta of 1.31. 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 12 month low of $411.15 and a 12 month high of $559.00.

Gartner (NYSE:IT) last issued its 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. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.56 earnings per share. On average, analysts anticipate that Gartner, Inc. will post 11.89 earnings per share for the current fiscal 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.