Portside Wealth Group LLC Trims Holdings in Gartner, Inc. (NYSE:IT)

Portside Wealth Group LLC decreased its position in shares of Gartner, Inc. (NYSE:IT) by 1.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,026 shares of the information technology services provider’s stock after selling 63 shares during the quarter. Portside Wealth Group LLC’s holdings in Gartner were worth $3,054,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in IT. Sustainable Growth Advisers LP purchased a new position in shares of Gartner during the second quarter valued at about $266,541,000. Principal Financial Group Inc. grew its holdings in 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 buying an additional 341,911 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Gartner by 38.2% during 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 buying an additional 114,610 shares in the last quarter. Natixis Advisors LLC increased its stake in 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 acquiring an additional 108,061 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of Gartner during the 1st quarter worth approximately $30,735,000. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling at Gartner

In other news, EVP Yvonne Genovese sold 443 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $483.62, for a total transaction of $214,243.66. Following the transaction, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at approximately $947,411.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Gartner news, EVP Akhil Jain sold 400 shares of Gartner stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $485.00, for a total transaction of $194,000.00. Following the completion of the sale, the executive vice president now directly owns 4,839 shares in the company, valued at approximately $2,346,915. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Yvonne Genovese sold 443 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $483.62, for a total transaction of $214,243.66. Following the transaction, the executive vice president now owns 1,959 shares of the company’s stock, valued at $947,411.58. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,899 shares of company stock valued at $24,959,886. 3.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

IT has been the subject of a number of recent research reports. Wells Fargo & Company raised their target price on shares of Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a report on Wednesday. Robert W. Baird upped their target price on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays lifted their price target on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Bank of America raised their price objective on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley boosted their target price on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $539.25.

Gartner Stock Performance

IT stock opened at $540.75 on Friday. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90. Gartner, Inc. has a 1-year low of $396.60 and a 1-year high of $542.13. The business has a 50-day moving average price of $511.54 and a 200 day moving average price of $473.53. The company has a market capitalization of $41.67 billion, a P/E ratio of 51.50, a PEG ratio of 3.14 and a beta of 1.32.

Gartner (NYSE:IT) last issued its quarterly earnings data 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. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. Gartner’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company posted $2.56 earnings per share. As a group, equities research analysts forecast that Gartner, Inc. will post 11.65 EPS for the current fiscal year.

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.