HM Payson & Co. Sells 24 Shares of Gartner, Inc. (NYSE:IT)

HM Payson & Co. lowered its position in shares of Gartner, Inc. (NYSE:IT) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,816 shares of the information technology services provider’s stock after selling 24 shares during the quarter. HM Payson & Co.’s holdings in Gartner were worth $1,427,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Sustainable Growth Advisers LP bought a new stake in shares of Gartner during the second quarter worth approximately $266,541,000. Principal Financial Group Inc. raised its position in shares of Gartner by 22.0% during the 2nd quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock valued at $852,014,000 after acquiring an additional 341,911 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Gartner by 38.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 414,559 shares of the information technology services provider’s stock valued at $197,608,000 after purchasing an additional 114,610 shares during the period. Natixis Advisors LLC boosted its position in shares of Gartner by 117.4% in the 2nd quarter. Natixis Advisors LLC now owns 200,097 shares of the information technology services provider’s stock worth $89,856,000 after purchasing an additional 108,061 shares during the last quarter. Finally, Swedbank AB acquired a new stake in shares of Gartner during the first quarter worth $30,735,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IT. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Bank of America boosted their price objective on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley increased their target price on shares of Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. UBS Group boosted their price target on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company raised their price objective on Gartner from $435.00 to $460.00 and gave the stock an “underweight” rating in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Gartner presently has an average rating of “Hold” and an average target price of $532.86.

Insider Buying and Selling at Gartner

In related news, CEO Eugene A. Hall sold 34,060 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the completion of the transaction, the chief executive officer now owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Gartner news, Director Karen E. Dykstra sold 1,683 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $465.55, for a total transaction of $783,520.65. Following the transaction, the director now owns 19,825 shares of the company’s stock, valued at $9,229,528.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Eugene A. Hall sold 34,060 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total value of $17,213,924.00. Following the sale, the chief executive officer now owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,582 shares of company stock worth $25,743,407. Corporate insiders own 3.60% of the company’s stock.

Gartner Price Performance

Shares of NYSE IT opened at $502.50 on Friday. The company has a fifty day moving average price of $507.37 and a 200 day moving average price of $470.96. The firm has a market cap of $38.72 billion, a PE ratio of 47.86, a PEG ratio of 3.25 and a beta of 1.32. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.80. Gartner, Inc. has a 1-year low of $329.20 and a 1-year high of $535.29.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.20. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the firm earned $2.85 earnings per share. Gartner’s revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts predict that Gartner, Inc. will post 11.65 earnings per share for the current fiscal year.

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.