Spirepoint Private Client LLC Reduces Stock Position in Gartner, Inc. (NYSE:IT)

Spirepoint Private Client LLC lessened its holdings in shares of Gartner, Inc. (NYSE:IT) by 43.1% in the 1st quarter, HoldingsChannel reports. The firm owned 1,369 shares of the information technology services provider’s stock after selling 1,039 shares during the quarter. Spirepoint Private Client LLC’s holdings in Gartner were worth $575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Cary Street Partners Financial LLC acquired a new position in shares of Gartner in the 4th quarter valued at $27,000. Itau Unibanco Holding S.A. lifted its stake in Gartner by 453.3% in 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. acquired a new stake in shares of Gartner in the fourth quarter worth approximately $49,000. Promus Capital LLC acquired a new stake in Gartner during the 4th quarter worth $57,000. Finally, Hurley Capital LLC acquired a new stake in shares of Gartner in the fourth quarter valued at about $73,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Stock Performance

Shares of IT stock opened at $398.32 on Tuesday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $30.66 billion, a P/E ratio of 24.79, a P/E/G ratio of 2.55 and a beta of 1.23. The firm’s 50 day moving average price is $423.57 and its 200-day moving average price is $461.25. Gartner, Inc. has a one year low of $366.05 and a one year high of $584.01.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, topping the consensus estimate of $2.72 by $0.26. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Gartner had a return on equity of 96.70% and a net margin of 19.82%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the business posted $2.93 earnings per share. As a group, equities research analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

Analysts Set New Price Targets

IT has been the subject of several research reports. UBS Group dropped their price objective on shares of Gartner from $525.00 to $500.00 and set a “buy” rating for the company in a research note on Wednesday, June 18th. Wall Street Zen cut Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Barclays lowered their price objective on Gartner from $510.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Wells Fargo & Company cut their target price on Gartner from $401.00 to $400.00 and set an “underweight” rating for the company in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group dropped their price objective on shares of Gartner from $622.00 to $535.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. One equities 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $515.89.

Insider Activity at Gartner

In related news, CFO Craig Safian sold 3,415 shares of Gartner stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $450.17, for a total value of $1,537,330.55. Following the completion of the transaction, the chief financial officer now directly owns 77,890 shares in the company, valued at approximately $35,063,741.30. This trade represents a 4.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP John J. Rinello sold 109 shares of the business’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 of the company’s stock, valued at $1,431,228. The trade was a 3.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,426 shares of company stock worth $2,430,327 in the last three months. 3.60% of the stock is owned by company insiders.

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.