Opal Wealth Advisors LLC Trims Holdings in Gartner, Inc. (NYSE:IT)

Opal Wealth Advisors LLC trimmed its stake in Gartner, Inc. (NYSE:IT) by 11.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 650 shares of the information technology services provider’s stock after selling 84 shares during the period. Opal Wealth Advisors LLC’s holdings in Gartner were worth $315,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Assenagon Asset Management S.A. increased its stake in Gartner by 208.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 272,267 shares of the information technology services provider’s stock worth $131,905,000 after buying an additional 183,974 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Gartner in the 3rd quarter valued at $70,955,000. Principal Financial Group Inc. boosted its holdings in shares of Gartner by 5.5% in the 3rd quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock valued at $1,014,099,000 after buying an additional 103,814 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Gartner in the 3rd quarter valued at $36,789,000. Finally, JPMorgan Chase & Co. raised its position in Gartner by 7.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock valued at $525,272,000 after purchasing an additional 70,236 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director James C. Smith sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $524.02, for a total transaction of $2,620,100.00. Following the completion of the sale, the director now owns 509,457 shares of the company’s stock, valued at approximately $266,965,657.14. This trade represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William James Wartinbee III sold 189 shares of Gartner stock in a transaction on Friday, December 6th. The stock was sold at an average price of $523.54, for a total transaction of $98,949.06. Following the completion of the transaction, the executive vice president now directly owns 7,311 shares of the company’s stock, valued at approximately $3,827,600.94. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,600 shares of company stock worth $2,933,279 over the last 90 days. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Morgan Stanley cut their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $525.00 to $600.00 in a research note on Friday, January 10th. Robert W. Baird raised their price target on shares of Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. Finally, StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $552.63.

Gartner Trading Down 1.0 %

IT opened at $528.93 on Monday. The firm has a market capitalization of $40.80 billion, a P/E ratio of 33.00, a P/E/G ratio of 3.50 and a beta of 1.34. The firm’s 50 day moving average is $509.93 and its 200-day moving average is $507.08. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $584.01. 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 (NYSE:IT) last posted its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 136.32%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.04 earnings per share. Analysts expect that Gartner, Inc. will post 12.5 EPS 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.