New World Advisors LLC Sells 29 Shares of Gartner, Inc. (NYSE:IT)

New World Advisors LLC decreased its stake in Gartner, Inc. (NYSE:IT) by 4.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 560 shares of the information technology services provider’s stock after selling 29 shares during the period. New World Advisors LLC’s holdings in Gartner were worth $284,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Gartner by 6.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 26,550 shares of the information technology services provider’s stock valued at $12,656,000 after acquiring an additional 1,582 shares during the period. MorganRosel Wealth Management LLC grew its holdings in Gartner by 10.8% during the first quarter. MorganRosel Wealth Management LLC now owns 2,330 shares of the information technology services provider’s stock worth $1,111,000 after purchasing an additional 228 shares during the period. Chapin Davis Inc. increased its position in Gartner by 26.1% during the first quarter. Chapin Davis Inc. now owns 2,683 shares of the information technology services provider’s stock worth $1,279,000 after buying an additional 555 shares during the last quarter. Norden Group LLC raised its stake in Gartner by 2,573.7% in the first quarter. Norden Group LLC now owns 71,360 shares of the information technology services provider’s stock valued at $34,010,000 after buying an additional 68,691 shares during the period. Finally, First Trust Direct Indexing L.P. lifted its position in shares of Gartner by 11.8% in the first quarter. First Trust Direct Indexing L.P. now owns 1,915 shares of the information technology services provider’s stock valued at $913,000 after buying an additional 202 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on IT shares. Morgan Stanley boosted their target price on Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. BMO Capital Markets increased their price objective on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Robert W. Baird raised their target price on shares of Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Wells Fargo & Company upped their price target on shares of Gartner from $435.00 to $460.00 and gave the company an “underweight” rating in a research note on Monday, October 14th. Finally, Bank of America increased their target price on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $532.86.

Insider Activity

In related news, Director Anne Sutherland Fuchs sold 500 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $505.28, for a total transaction of $252,640.00. Following the sale, the director now owns 8,059 shares in the company, valued at $4,072,051.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Anne Sutherland Fuchs sold 500 shares of Gartner stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $505.28, for a total transaction of $252,640.00. Following the sale, the director now directly owns 8,059 shares in the company, valued at $4,072,051.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eugene A. Hall sold 34,060 shares of the company’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 owns 1,143,401 shares of the company’s stock, valued at approximately $577,874,865.40. This trade represents a 0.00 % decrease in their ownership of the stock. 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. Insiders own 3.60% of the company’s stock.

Gartner Price Performance

IT stock traded down $4.59 during mid-day trading on Friday, hitting $513.36. The stock had a trading volume of 144,907 shares, compared to its average volume of 232,832. The firm has a fifty day simple moving average of $505.35 and a 200 day simple moving average of $469.93. The firm has a market capitalization of $39.56 billion, a P/E ratio of 48.89, a P/E/G ratio of 3.25 and a beta of 1.32. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.80. Gartner, Inc. has a 52 week low of $323.61 and a 52 week high of $535.29.

Gartner (NYSE:IT) last released its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.20. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.85 earnings per share. As a group, research analysts forecast that Gartner, Inc. will post 11.65 EPS for the current year.

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.