Orion Portfolio Solutions LLC Sells 2,758 Shares of Gartner, Inc. (NYSE:IT)

Orion Portfolio Solutions LLC reduced its stake in shares of Gartner, Inc. (NYSE:IT) by 11.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,215 shares of the information technology services provider’s stock after selling 2,758 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Gartner were worth $10,278,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Kestra Investment Management LLC bought a new stake in shares of Gartner in the 4th quarter worth about $29,000. SBI Securities Co. Ltd. purchased a new stake in Gartner in the 4th quarter worth about $49,000. True Wealth Design LLC lifted its stake in Gartner by 2,350.0% in the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after purchasing an additional 94 shares during the last quarter. Promus Capital LLC purchased a new position in shares of Gartner during the fourth quarter valued at approximately $57,000. Finally, Global Retirement Partners LLC grew its stake in shares of Gartner by 14.0% during the fourth quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock valued at $134,000 after buying an additional 34 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IT. Morgan Stanley decreased their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $525.00 to $600.00 in a research note on Friday, January 10th. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. 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, March 21st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Gartner has an average rating of “Hold” and an average target price of $536.63.

Gartner Price Performance

NYSE IT opened at $418.57 on Friday. The company has a market cap of $32.15 billion, a PE ratio of 26.11, a P/E/G ratio of 3.30 and a beta of 1.29. The firm’s 50 day moving average price is $494.18 and its 200-day moving average price is $505.53. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. Gartner, Inc. has a 52-week low of $409.50 and a 52-week high of $584.01.

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

Insider Buying and Selling at Gartner

In other news, SVP John J. Rinello sold 90 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the sale, the director now directly owns 1,627 shares of the company’s stock, valued at $796,855.79. The trade was a 42.45 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

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.