MAI Capital Management Has $7.90 Million Stock Holdings in Gartner, Inc. (NYSE:IT)

MAI Capital Management trimmed its holdings in shares of Gartner, Inc. (NYSE:IT) by 12.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 15,587 shares of the information technology services provider’s stock after selling 2,252 shares during the period. MAI Capital Management’s holdings in Gartner were worth $7,899,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in IT. Eastern Bank bought a new position in shares of Gartner during the third quarter valued at $26,000. Crewe Advisors LLC lifted its holdings in Gartner by 223.3% during the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after purchasing an additional 67 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Gartner during the third quarter worth about $44,000. Fortitude Family Office LLC increased its holdings in shares of Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after buying an additional 20 shares in the last quarter. Finally, Asset Dedication LLC raised its stake in shares of Gartner by 46.5% in the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock valued at $75,000 after acquiring an additional 47 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on IT. UBS Group raised their price target on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley raised their target price on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. BMO Capital Markets upped their price target on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Bank of America raised their price target on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. 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’s stock. According to data from MarketBeat.com, Gartner currently has a consensus rating of “Hold” and an average target price of $539.25.

Insider Buying and Selling

In other Gartner news, Director James C. Smith sold 2,450 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $554.68, for a total transaction of $1,358,966.00. Following the completion of the transaction, the director now owns 529,844 shares in the company, valued at approximately $293,893,869.92. This represents a 0.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Claire Herkes sold 478 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $506.01, for a total value of $241,872.78. Following the completion of the sale, the executive vice president now owns 1,905 shares in the company, valued at approximately $963,949.05. This trade represents a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 73,172 shares of company stock valued at $38,023,255. 3.60% of the stock is owned by corporate insiders.

Gartner Stock Down 0.4 %

Shares of Gartner stock opened at $520.73 on Tuesday. The business has a fifty day simple moving average of $518.32 and a 200 day simple moving average of $478.34. The stock has a market cap of $40.13 billion, a PE ratio of 38.40, a price-to-earnings-growth ratio of 3.27 and a beta of 1.32. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $559.00.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.05. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.56 EPS. Research analysts predict that Gartner, Inc. will post 11.89 EPS for the current 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.