Douglas Lane & Associates LLC Trims Stock Position in Gartner, Inc. (NYSE:IT)

Douglas Lane & Associates LLC trimmed its stake in Gartner, Inc. (NYSE:IT) by 5.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,976 shares of the information technology services provider’s stock after selling 492 shares during the period. Douglas Lane & Associates LLC’s holdings in Gartner were worth $4,042,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of IT. Central Pacific Bank Trust Division purchased a new stake in Gartner in the first quarter worth about $36,000. Crewe Advisors LLC boosted its position in shares of Gartner by 223.3% during the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after purchasing an additional 67 shares in the last quarter. J.Safra Asset Management Corp grew its stake in Gartner by 58.7% in the first quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock worth $70,000 after purchasing an additional 54 shares during the period. Rothschild Investment LLC bought a new position in Gartner in the second quarter worth $94,000. Finally, EverSource Wealth Advisors LLC lifted its position in Gartner by 16.0% during the first quarter. EverSource Wealth Advisors LLC now owns 275 shares of the information technology services provider’s stock valued at $131,000 after buying an additional 38 shares during the period. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other news, CEO Eugene A. Hall sold 34,060 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the completion of the transaction, the chief executive officer now directly owns 1,143,401 shares of the company’s stock, valued at $577,874,865.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Eugene A. Hall sold 34,060 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total value of $17,213,924.00. Following the transaction, the chief executive officer now directly owns 1,143,401 shares in the company, valued at $577,874,865.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Karen E. Dykstra sold 1,683 shares of Gartner stock in a transaction on Monday, August 5th. The stock was sold at an average price of $465.55, for a total value of $783,520.65. Following the completion of the sale, the director now directly owns 19,825 shares of the company’s stock, valued at $9,229,528.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,164 shares of company stock worth $32,601,014. 3.60% of the stock is owned by corporate insiders.

Gartner Trading Up 0.5 %

NYSE:IT opened at $521.22 on Monday. Gartner, Inc. has a 52 week low of $323.61 and a 52 week high of $524.77. The stock has a market cap of $40.46 billion, a price-to-earnings ratio of 51.86, a PEG ratio of 3.23 and a beta of 1.32. The company’s 50 day moving average price is $495.34 and its 200-day moving average price is $466.13. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 3.80.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $1.58 billion. During the same period last year, the business posted $2.85 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts forecast that Gartner, Inc. will post 11.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on IT shares. Morgan Stanley upped their target price on shares of Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research report on Thursday. Bank of America upped their price objective on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. UBS Group lifted their target price on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, BMO Capital Markets raised their price objective on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Gartner currently has a consensus rating of “Hold” and a consensus price target of $529.29.

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.