MassMutual Private Wealth & Trust FSB Sells 313 Shares of Gartner, Inc. (NYSE:IT)

MassMutual Private Wealth & Trust FSB lowered its stake in shares of Gartner, Inc. (NYSE:IT) by 12.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,245 shares of the information technology services provider’s stock after selling 313 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Gartner were worth $1,088,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in IT. Baron Wealth Management LLC increased its position in Gartner by 4.1% during the 3rd quarter. Baron Wealth Management LLC now owns 481 shares of the information technology services provider’s stock valued at $244,000 after buying an additional 19 shares in the last quarter. Fortitude Family Office LLC increased its holdings in shares of Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after acquiring an additional 20 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Gartner by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 917 shares of the information technology services provider’s stock worth $444,000 after purchasing an additional 22 shares during the last quarter. Wallace Advisory Group LLC boosted its stake in Gartner by 2.4% in the 2nd quarter. Wallace Advisory Group LLC now owns 980 shares of the information technology services provider’s stock worth $440,000 after purchasing an additional 23 shares in the last quarter. Finally, Trust Point Inc. grew its position in Gartner by 3.2% during the 3rd quarter. Trust Point Inc. now owns 746 shares of the information technology services provider’s stock valued at $378,000 after purchasing an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IT. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Morgan Stanley cut their target price 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. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. Robert W. Baird lifted their price objective on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Gartner presently has a consensus rating of “Hold” and a consensus target price of $550.75.

Gartner Price Performance

NYSE IT opened at $524.78 on Wednesday. The company has a 50-day moving average price of $506.32 and a 200-day moving average price of $499.74. Gartner, Inc. has a 52 week low of $411.15 and a 52 week high of $559.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. The firm has a market capitalization of $40.48 billion, a P/E ratio of 38.70, a PEG ratio of 2.87 and a beta of 1.33.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the firm earned $2.56 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts anticipate that Gartner, Inc. will post 11.87 earnings per share for the current year.

Insider Activity at Gartner

In other news, EVP William James Wartinbee III sold 189 shares of the firm’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 sale, the executive vice president now directly owns 7,311 shares in the company, valued at $3,827,600.94. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James C. Smith sold 2,450 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $554.68, for a total value of $1,358,966.00. Following the completion of the sale, the director now owns 529,844 shares of the company’s stock, valued at $293,893,869.92. The trade was a 0.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,583 shares of company stock worth $19,241,974. Corporate insiders own 3.60% of the company’s stock.

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.