Steward Partners Investment Advisory LLC Lowers Stock Holdings in Gartner, Inc. (NYSE:IT)

Steward Partners Investment Advisory LLC reduced its position in shares of Gartner, Inc. (NYSE:IT) by 8.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,935 shares of the information technology services provider’s stock after selling 550 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Gartner were worth $2,875,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of IT. QRG Capital Management Inc. boosted its position in Gartner by 17.0% in the 3rd quarter. QRG Capital Management Inc. now owns 3,038 shares of the information technology services provider’s stock valued at $1,540,000 after buying an additional 442 shares during the period. Concurrent Investment Advisors LLC boosted its position in Gartner by 13.3% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 709 shares of the information technology services provider’s stock valued at $359,000 after buying an additional 83 shares during the period. Principal Financial Group Inc. boosted its holdings in Gartner by 5.5% in the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock valued at $1,014,099,000 after purchasing an additional 103,814 shares during the period. Capital Performance Advisors LLP purchased a new position in Gartner in the third quarter valued at $77,000. Finally, Verdence Capital Advisors LLC purchased a new position in Gartner in the third quarter valued at $226,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on IT shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a report on Wednesday. Robert W. Baird increased their price objective on shares of Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. Finally, Morgan Stanley dropped their target price on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $552.63.

Insider Activity

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

Gartner Stock Down 0.2 %

Shares of NYSE:IT opened at $482.18 on Friday. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $584.01. The company has a market capitalization of $37.04 billion, a PE ratio of 30.08, a P/E/G 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. The firm has a 50 day simple moving average of $509.94 and a 200-day simple moving average of $509.98.

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