NewEdge Wealth LLC Lowers Stock Position in Gartner, Inc. (NYSE:IT)

NewEdge Wealth LLC trimmed its position in Gartner, Inc. (NYSE:IT) by 15.4% in the 4th quarter, HoldingsChannel reports. The fund owned 2,447 shares of the information technology services provider’s stock after selling 446 shares during the quarter. NewEdge Wealth LLC’s holdings in Gartner were worth $1,185,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IT. Kestra Investment Management LLC purchased a new stake in shares of Gartner in the fourth quarter worth $29,000. Ashton Thomas Securities LLC bought a new position in Gartner in the 3rd quarter worth $44,000. True Wealth Design LLC increased its stake in Gartner by 2,350.0% in the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after buying an additional 94 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Gartner during the third quarter valued at about $77,000. Finally, Global Retirement Partners LLC raised its holdings in 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 acquiring an additional 34 shares during the period. Institutional investors own 91.51% of the company’s stock.

Insider Activity

In other news, Director Eileen Serra sold 1,200 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were 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 owns 1,627 shares in the company, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John J. Rinello sold 90 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the transaction, the senior vice president now owns 3,259 shares in the company, valued at $1,728,932.09. The trade was a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,479 shares of company stock valued at $734,419 in the last ninety days. Insiders own 3.60% of the company’s stock.

Gartner Price Performance

IT stock opened at $498.63 on Friday. Gartner, Inc. has a 52 week low of $411.15 and a 52 week high of $584.01. The firm has a market capitalization of $38.30 billion, a P/E ratio of 31.11, a price-to-earnings-growth ratio of 3.30 and a beta of 1.34. The company has a fifty day simple moving average of $510.13 and a two-hundred day simple moving average of $509.84. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

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

Analysts Set New Price Targets

Several analysts recently issued reports on IT shares. Wells Fargo & Company cut their target price on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. Robert W. Baird lifted their price objective on shares of Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. Finally, Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $552.63.

About Gartner

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.