Gartner, Inc. (NYSE:IT) Shares Sold by Portside Wealth Group LLC

Portside Wealth Group LLC lessened its holdings in shares of Gartner, Inc. (NYSE:IT) by 1.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,957 shares of the information technology services provider’s stock after selling 69 shares during the quarter. Portside Wealth Group LLC’s holdings in Gartner were worth $3,019,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IT. Eastern Bank acquired a new stake in shares of Gartner in the third quarter valued at about $26,000. Ashton Thomas Securities LLC purchased a new position in Gartner in the 3rd quarter worth approximately $44,000. True Wealth Design LLC grew its position in Gartner by 2,350.0% in the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after acquiring an additional 94 shares in the last quarter. Fortitude Family Office LLC grew its position in Gartner by 23.8% in the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after acquiring an additional 20 shares in the last quarter. Finally, Asset Dedication LLC raised its stake in shares of Gartner by 46.5% during the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock valued at $75,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Trading Up 0.8 %

Shares of NYSE IT opened at $516.34 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. The stock’s 50 day moving average price is $507.49 and its two-hundred day moving average price is $498.39. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $559.00. The stock has a market capitalization of $39.83 billion, a P/E ratio of 38.08, a PEG ratio of 2.72 and a beta of 1.33.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company posted $2.56 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. On average, analysts anticipate that Gartner, Inc. will post 11.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Claire Herkes sold 411 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total transaction of $214,229.64. Following the completion of the transaction, the executive vice president now directly owns 1,494 shares in the company, valued at $778,732.56. This represents a 21.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James C. Smith sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $535.76, for a total value of $5,357,600.00. Following the completion of the sale, the director now owns 554,274 shares in the company, valued at $296,957,838.24. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,583 shares of company stock valued at $19,241,974. Company insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on IT shares. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Morgan Stanley lowered their target price on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday. Robert W. Baird boosted their price target on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Wells Fargo & Company lowered their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Finally, Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $525.00 to $600.00 in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $550.75.

Gartner 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.