Fmr LLC Cuts Stock Holdings in Gartner, Inc. (NYSE:IT)

Fmr LLC lowered its position in Gartner, Inc. (NYSE:IT) by 10.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,599,035 shares of the information technology services provider’s stock after selling 305,098 shares during the period. Fmr LLC’s holdings in Gartner were worth $1,317,087,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in IT. Eastern Bank purchased a new stake in Gartner in the 3rd quarter valued at about $26,000. Crewe Advisors LLC lifted its holdings in Gartner by 223.3% during the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after acquiring an additional 67 shares during the period. Ashton Thomas Securities LLC bought a new stake in Gartner during the third quarter worth $44,000. Fortitude Family Office LLC boosted its position in Gartner by 23.8% in the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after purchasing an additional 20 shares during the last quarter. Finally, Asset Dedication LLC grew its stake in Gartner by 46.5% in the 3rd quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock valued at $75,000 after purchasing an additional 47 shares during the period. 91.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IT has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Robert W. Baird boosted their target price on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. UBS Group raised their price target on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets upped their price objective on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Finally, StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $539.25.

Insider Activity at Gartner

In other Gartner news, CEO Eugene A. Hall sold 34,060 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 1,143,401 shares of the company’s stock, valued at $577,874,865.40. This trade represents a 2.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scott Hensel sold 5,580 shares of Gartner stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $490.00, for a total value of $2,734,200.00. Following the sale, the executive vice president now owns 19,724 shares of the company’s stock, valued at approximately $9,664,760. This trade represents a 22.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,729 shares of company stock valued at $37,809,011. Corporate insiders own 3.60% of the company’s stock.

Gartner Trading Up 0.8 %

Shares of IT stock opened at $523.13 on Wednesday. The stock has a market capitalization of $40.35 billion, a price-to-earnings ratio of 38.58, a PEG ratio of 3.24 and a beta of 1.32. The company’s fifty day simple moving average is $520.24 and its two-hundred day simple moving average is $482.02. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $559.00. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02.

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