Bessemer Group Inc. Sells 5,816 Shares of Gartner, Inc. (NYSE:IT)

Bessemer Group Inc. cut its stake in shares of Gartner, Inc. (NYSE:IT) by 0.8% in the 4th quarter, HoldingsChannel reports. The firm owned 752,212 shares of the information technology services provider’s stock after selling 5,816 shares during the period. Bessemer Group Inc.’s holdings in Gartner were worth $364,425,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Gartner by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 9,268,639 shares of the information technology services provider’s stock valued at $4,490,378,000 after purchasing an additional 100,917 shares during the last quarter. FMR LLC boosted its stake in Gartner by 8.6% in the fourth quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider’s stock worth $1,367,233,000 after buying an additional 223,087 shares in the last quarter. Geode Capital Management LLC grew its position in Gartner by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 2,063,577 shares of the information technology services provider’s stock valued at $998,400,000 after acquiring an additional 45,219 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Gartner by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider’s stock worth $975,141,000 after acquiring an additional 11,657 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Gartner by 12.7% in the 4th quarter. Wellington Management Group LLP now owns 1,662,005 shares of the information technology services provider’s stock valued at $805,192,000 after purchasing an additional 187,854 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling at Gartner

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. Wells Fargo & Company lowered their target price on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. UBS Group reduced their price target on Gartner from $565.00 to $500.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Robert W. Baird dropped their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Finally, StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Gartner presently has a consensus rating of “Hold” and a consensus target price of $525.38.

Gartner Stock Performance

NYSE:IT opened at $375.12 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The firm’s fifty day simple moving average is $473.02 and its 200 day simple moving average is $499.35. The stock has a market cap of $28.82 billion, a P/E ratio of 23.40, a price-to-earnings-growth ratio of 3.30 and a beta of 1.26. Gartner, Inc. has a twelve month low of $366.05 and a twelve month high of $584.01.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, topping the consensus estimate of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period last year, the business posted $3.04 earnings per share. Gartner’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, research analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

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.