Salvus Wealth Management LLC Lowers Position in Gartner, Inc. (NYSE:IT)

Salvus Wealth Management LLC trimmed its holdings in shares of Gartner, Inc. (NYSE:IT) by 24.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 502 shares of the information technology services provider’s stock after selling 162 shares during the quarter. Salvus Wealth Management LLC’s holdings in Gartner were worth $211,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Cary Street Partners Financial LLC bought a new stake in shares of Gartner during the 4th quarter worth $27,000. Kestra Investment Management LLC bought a new stake in Gartner during the 4th quarter valued at approximately $29,000. Itau Unibanco Holding S.A. boosted its position 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 valued at $40,000 after purchasing 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 Gartner in the fourth quarter worth about $57,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Price Performance

Gartner stock opened at $425.50 on Thursday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The company has a 50-day moving average price of $420.96 and a 200 day moving average price of $471.86. Gartner, Inc. has a 12-month low of $366.05 and a 12-month high of $584.01. The stock has a market cap of $32.75 billion, a P/E ratio of 26.54, a PEG ratio of 3.30 and a beta of 1.24.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.26. The business had revenue of $1.54 billion during 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% on a year-over-year basis. During the same period last year, the business earned $2.93 earnings per share. Sell-side analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insiders Place Their Bets

In other Gartner news, EVP Akhil Jain sold 625 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $450.00, for a total transaction of $281,250.00. Following the sale, the executive vice president now owns 6,548 shares of the company’s stock, valued at approximately $2,946,600. This trade represents a 8.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John J. Rinello sold 109 shares of the firm’s stock in a transaction dated 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 approximately $1,431,228. The trade was a 3.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,426 shares of company stock worth $2,430,327 over the last 90 days. Corporate insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

IT has been the subject of a number of recent analyst reports. Robert W. Baird decreased their price objective on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Barclays reduced their price target on Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Wells Fargo & Company decreased their target price on Gartner from $401.00 to $400.00 and set an “underweight” rating on the stock in a research note on Thursday, May 1st. The Goldman Sachs Group decreased their price objective on shares of Gartner from $622.00 to $535.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Finally, UBS Group boosted their target price on Gartner from $500.00 to $525.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Gartner currently has a consensus rating of “Hold” and an average target price of $518.67.

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.