Frontier Capital Management Co. LLC Sells 2,975 Shares of Gartner, Inc. (NYSE:IT)

Frontier Capital Management Co. LLC cut its position in shares of Gartner, Inc. (NYSE:IT) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,746 shares of the information technology services provider’s stock after selling 2,975 shares during the period. Frontier Capital Management Co. LLC owned approximately 0.06% of Gartner worth $23,132,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of IT. Cary Street Partners Financial LLC bought a new position in shares of Gartner in the fourth quarter worth about $27,000. Kestra Investment Management LLC acquired a new position in shares of Gartner during the fourth quarter valued at about $29,000. Itau Unibanco Holding S.A. lifted its stake in shares of Gartner by 453.3% during the fourth quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider’s stock worth $40,000 after buying an additional 68 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Gartner in the fourth quarter valued at about $49,000. Finally, Promus Capital LLC acquired a new stake in Gartner during the 4th quarter valued at approximately $57,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Stock Performance

NYSE IT opened at $437.54 on Friday. 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 stock has a market cap of $33.61 billion, a price-to-earnings ratio of 27.29, a price-to-earnings-growth ratio of 3.30 and a beta of 1.24. The business has a fifty day moving average of $424.98 and a 200-day moving average of $483.02. Gartner, Inc. has a fifty-two week low of $366.05 and a fifty-two week high of $584.01.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.26. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.93 earnings per share. As a group, analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IT has been the topic of several recent research reports. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. UBS Group lifted their target price on Gartner from $500.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley dropped their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. The Goldman Sachs Group cut their price target on Gartner from $622.00 to $535.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Barclays decreased their target price on Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. 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 currently has a consensus rating of “Hold” and a consensus target price of $518.67.

Insiders Place Their Bets

In other news, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Eileen Serra sold 1,200 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the sale, the director now directly owns 1,627 shares of the company’s stock, valued at $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.

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.