Triasima Portfolio Management inc. Trims Stake in Gartner, Inc. (NYSE:IT)

Triasima Portfolio Management inc. trimmed its position in Gartner, Inc. (NYSE:IT) by 8.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,614 shares of the information technology services provider’s stock after selling 414 shares during the quarter. Triasima Portfolio Management inc.’s holdings in Gartner were worth $2,072,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TCW Group Inc. lifted its holdings in Gartner by 4.0% during the fourth quarter. TCW Group Inc. now owns 199,062 shares of the information technology services provider’s stock worth $89,800,000 after buying an additional 7,639 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Gartner by 11.4% during the 1st quarter. Russell Investments Group Ltd. now owns 25,063 shares of the information technology services provider’s stock worth $11,987,000 after purchasing an additional 2,560 shares during the last quarter. Icon Wealth Advisors LLC bought a new stake in Gartner during the fourth quarter valued at about $2,093,000. Madison Asset Management LLC grew its stake in Gartner by 2.8% in the fourth quarter. Madison Asset Management LLC now owns 344,657 shares of the information technology services provider’s stock valued at $155,478,000 after purchasing an additional 9,538 shares during the last quarter. Finally, TFO Wealth Partners LLC grew its stake in Gartner by 3,456.6% in the fourth quarter. TFO Wealth Partners LLC now owns 2,703 shares of the information technology services provider’s stock valued at $1,219,000 after purchasing an additional 2,627 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Wells Fargo & Company upgraded shares of Gartner to a “strong sell” rating in a research note on Tuesday, August 13th. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Robert W. Baird increased their price objective on Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, UBS Group boosted their target price on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $521.00.

Insiders Place Their Bets

In other news, EVP Akhil Jain sold 400 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $485.00, for a total value of $194,000.00. Following the completion of the transaction, the executive vice president now owns 4,839 shares of the company’s stock, valued at approximately $2,346,915. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Gartner news, CEO Eugene A. Hall sold 12,082 shares of Gartner stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $504.84, for a total value of $6,099,476.88. Following the completion of the transaction, the chief executive officer now owns 1,143,389 shares of the company’s stock, valued at $577,228,502.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Akhil Jain sold 400 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $485.00, for a total transaction of $194,000.00. Following the sale, the executive vice president now directly owns 4,839 shares in the company, valued at $2,346,915. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,998 shares of company stock valued at $13,834,898. Company insiders own 3.60% of the company’s stock.

Gartner Stock Performance

Shares of NYSE IT traded up $0.22 during mid-day trading on Friday, hitting $483.68. The stock had a trading volume of 356,677 shares, compared to its average volume of 391,639. The firm has a market cap of $37.55 billion, a PE ratio of 48.13, a PEG ratio of 3.83 and a beta of 1.32. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. The company has a 50 day moving average of $471.55 and a two-hundred day moving average of $459.03. Gartner, Inc. has a twelve month low of $323.61 and a twelve month high of $509.15.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.20. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the company earned $2.85 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. Research analysts predict that Gartner, Inc. will post 11.59 EPS 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.