Nissay Asset Management Corp Japan ADV Trims Stake in Gartner, Inc. (NYSE:IT)

Nissay Asset Management Corp Japan ADV cut its stake in Gartner, Inc. (NYSE:IT) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,716 shares of the information technology services provider’s stock after selling 173 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Gartner were worth $4,731,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Morgan Stanley dropped their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Barclays reduced their price objective on Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Robert W. Baird dropped their target price on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Finally, The Goldman Sachs Group cut their target price on Gartner from $622.00 to $535.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. One 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. According to MarketBeat.com, Gartner has a consensus rating of “Hold” and a consensus price target of $518.67.

Insider Activity at Gartner

In other news, SVP John J. Rinello sold 109 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $436.35, for a total value of $47,562.15. Following the transaction, the senior vice president now directly owns 3,280 shares in the company, valued at $1,431,228. This trade represents a 3.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Craig Safian sold 3,415 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $450.17, for a total value of $1,537,330.55. Following the sale, the chief financial officer now owns 77,890 shares of the company’s stock, valued at approximately $35,063,741.30. This trade represents a 4.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,001 shares of company stock worth $2,736,801 over the last quarter. Company insiders own 2.30% of the company’s stock.

Gartner Stock Up 0.1%

IT stock opened at $446.40 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. Gartner, Inc. has a 1-year low of $366.05 and a 1-year high of $584.01. The stock has a market capitalization of $34.29 billion, a P/E ratio of 27.85, a P/E/G ratio of 3.30 and a beta of 1.24. The business has a fifty day moving average price of $421.17 and a 200-day moving average price of $480.47.

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