Gartner, Inc. (NYSE:IT) Stock Holdings Lowered by Thrive Wealth Management LLC

Thrive Wealth Management LLC reduced its holdings in Gartner, Inc. (NYSE:IT) by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,918 shares of the information technology services provider’s stock after selling 72 shares during the quarter. Thrive Wealth Management LLC’s holdings in Gartner were worth $914,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Paralel Advisors LLC increased its position in shares of Gartner by 1.3% in the third quarter. Paralel Advisors LLC now owns 5,875 shares of the information technology services provider’s stock worth $2,019,000 after acquiring an additional 73 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in shares of Gartner in the third quarter worth approximately $433,000. LPL Financial LLC grew its position in Gartner by 23.0% during the third quarter. LPL Financial LLC now owns 28,129 shares of the information technology services provider’s stock valued at $9,665,000 after purchasing an additional 5,266 shares in the last quarter. Mariner LLC grew its position in Gartner by 5.7% during the third quarter. Mariner LLC now owns 11,285 shares of the information technology services provider’s stock valued at $3,878,000 after purchasing an additional 604 shares in the last quarter. Finally, Stifel Financial Corp grew its position in Gartner by 32.6% during the third quarter. Stifel Financial Corp now owns 33,817 shares of the information technology services provider’s stock valued at $11,620,000 after purchasing an additional 8,319 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director James C. Smith sold 10,000 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $455.20, for a total transaction of $4,552,000.00. Following the completion of the sale, the director now owns 608,369 shares in the company, valued at approximately $276,929,568.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Gartner news, EVP Yvonne Genovese sold 439 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $456.13, for a total value of $200,241.07. Following the completion of the sale, the executive vice president now owns 1,959 shares in the company, valued at approximately $893,558.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James C. Smith sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $455.20, for a total transaction of $4,552,000.00. Following the completion of the sale, the director now owns 608,369 shares of the company’s stock, valued at approximately $276,929,568.80. The disclosure for this sale can be found here. Insiders sold 22,544 shares of company stock worth $10,079,813 in the last quarter. 3.60% of the stock is owned by corporate insiders.

Gartner Stock Up 0.7 %

Shares of IT traded up $3.06 during mid-day trading on Friday, hitting $447.83. 16,506 shares of the company’s stock were exchanged, compared to its average volume of 407,759. The firm has a fifty day moving average of $438.90 and a two-hundred day moving average of $452.30. Gartner, Inc. has a twelve month low of $323.61 and a twelve month high of $486.54. The stock has a market cap of $34.77 billion, a price-to-earnings ratio of 44.26, a P/E/G ratio of 3.91 and a beta of 1.32. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.42.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.40. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.47 billion. Gartner had a net margin of 13.35% and a return on equity of 141.55%. Gartner’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.88 EPS. On average, sell-side analysts forecast that Gartner, Inc. will post 11.55 earnings per share for the current year.

Analyst Ratings Changes

IT has been the topic of a number of research analyst reports. UBS Group lowered their price objective on shares of Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. BMO Capital Markets lowered their price objective on shares of Gartner from $450.00 to $432.00 and set a “market perform” rating on the stock in a research report on Thursday, May 2nd. Robert W. Baird lowered their price objective on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Gartner in a research report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 target price for the company. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $474.50.

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.