Sei Investments Co. Decreases Position in Gartner, Inc. (NYSE:IT)

Sei Investments Co. decreased its stake in Gartner, Inc. (NYSE:IT) by 42.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 72,427 shares of the information technology services provider’s stock after selling 53,921 shares during the quarter. Sei Investments Co. owned about 0.09% of Gartner worth $35,088,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Czech National Bank raised its position in Gartner by 6.5% in the 4th quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock worth $8,103,000 after purchasing an additional 1,028 shares during the period. Entropy Technologies LP purchased a new stake in shares of Gartner in the fourth quarter worth approximately $366,000. D.A. Davidson & CO. lifted its stake in shares of Gartner by 2.6% during the 4th quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider’s stock worth $551,000 after acquiring an additional 29 shares during the last quarter. Conestoga Capital Advisors LLC boosted its holdings in Gartner by 1.5% during the 4th quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider’s stock valued at $15,322,000 after acquiring an additional 480 shares during the period. Finally, Barclays PLC grew its position in Gartner by 8.6% in the 3rd quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock valued at $84,520,000 after acquiring an additional 13,205 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on IT shares. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research report on Friday. Robert W. Baird lowered their price objective on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research report on Friday. Wells Fargo & Company dropped their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $525.00 to $600.00 in a research note on Friday, January 10th. Finally, Morgan Stanley dropped their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research note 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $546.63.

Gartner Stock Down 0.2 %

Shares of NYSE IT opened at $429.69 on Tuesday. Gartner, Inc. has a 12-month low of $409.50 and a 12-month high of $584.01. The stock’s fifty day simple moving average is $501.11 and its two-hundred day simple moving average is $507.61. The stock has a market capitalization of $33.01 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81.

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

Insider Buying and Selling

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

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.