Tranquility Partners LLC Has $577,000 Position in Gartner, Inc. (NYSE:IT)

Tranquility Partners LLC cut its holdings in shares of Gartner, Inc. (NYSE:IT) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,138 shares of the information technology services provider’s stock after selling 25 shares during the period. Tranquility Partners LLC’s holdings in Gartner were worth $577,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of IT. Sustainable Growth Advisers LP acquired a new stake in shares of Gartner in the second quarter valued at about $266,541,000. Principal Financial Group Inc. raised its position in shares of Gartner by 22.0% during the second quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock worth $852,014,000 after purchasing an additional 341,911 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Gartner by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 414,559 shares of the information technology services provider’s stock valued at $197,608,000 after buying an additional 114,610 shares in the last quarter. Natixis Advisors LLC boosted its stake in Gartner by 117.4% during the 2nd quarter. Natixis Advisors LLC now owns 200,097 shares of the information technology services provider’s stock valued at $89,856,000 after purchasing an additional 108,061 shares during the last quarter. Finally, Swedbank AB bought a new stake in Gartner during the first quarter worth $30,735,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IT. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. BMO Capital Markets raised 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. Wells Fargo & Company boosted their target price on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley boosted their price target on shares of Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $539.25.

Gartner Price Performance

Shares of Gartner stock opened at $520.73 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. Gartner, Inc. has a 52 week low of $411.15 and a 52 week high of $559.00. The stock’s 50-day simple moving average is $518.32 and its 200-day simple moving average is $478.34. The company has a market capitalization of $40.16 billion, a price-to-earnings ratio of 38.40, a PEG ratio of 3.27 and a beta of 1.32.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the firm earned $2.56 earnings per share. Gartner’s revenue was up 5.4% on a year-over-year basis. As a group, analysts expect that Gartner, Inc. will post 11.89 earnings per share for the current fiscal year.

Insider Activity at Gartner

In other Gartner news, EVP Akhil Jain sold 500 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $492.00, for a total value of $246,000.00. Following the completion of the sale, the executive vice president now owns 4,339 shares of the company’s stock, valued at approximately $2,134,788. This trade represents a 10.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Yvonne Genovese sold 443 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $483.62, for a total value of $214,243.66. Following the completion of the transaction, the executive vice president now owns 1,959 shares of the company’s stock, valued at $947,411.58. This trade represents a 18.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,172 shares of company stock worth $38,023,255. Company insiders own 3.60% of the company’s stock.

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.