Truist Financial Corp Sells 2,211 Shares of Gartner, Inc. (NYSE:IT)

Truist Financial Corp lessened its stake in Gartner, Inc. (NYSE:IT) by 12.6% during the fourth quarter, Holdings Channel reports. The firm owned 15,303 shares of the information technology services provider’s stock after selling 2,211 shares during the period. Truist Financial Corp’s holdings in Gartner were worth $7,414,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. CIBC Asset Management Inc lifted its holdings in shares of Gartner by 4.5% in the fourth quarter. CIBC Asset Management Inc now owns 11,787 shares of the information technology services provider’s stock valued at $5,710,000 after purchasing an additional 512 shares in the last quarter. Pittenger & Anderson Inc. increased its position in shares of Gartner by 22.6% during the fourth quarter. Pittenger & Anderson Inc. now owns 2,097 shares of the information technology services provider’s stock valued at $1,016,000 after acquiring an additional 387 shares during the last quarter. Highview Capital Management LLC DE increased its position in shares of Gartner by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 2,386 shares of the information technology services provider’s stock valued at $1,156,000 after acquiring an additional 56 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Gartner by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider’s stock valued at $975,141,000 after acquiring an additional 11,657 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC purchased a new stake in shares of Gartner during the fourth quarter valued at approximately $265,000. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IT. Morgan Stanley decreased their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Wells Fargo & Company decreased their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft increased their price target on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Finally, Robert W. Baird raised their target price on Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $552.63.

Insider Activity

In related news, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James C. Smith sold 5,000 shares of Gartner stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $524.02, for a total value of $2,620,100.00. Following the sale, the director now directly owns 509,457 shares of the company’s stock, valued at $266,965,657.14. This represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,690 shares of company stock worth $2,981,025. 3.60% of the stock is owned by corporate insiders.

Gartner Stock Performance

NYSE:IT opened at $487.44 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The business has a fifty day simple moving average of $509.42 and a two-hundred day simple moving average of $509.05. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $584.01. The company has a market capitalization of $37.60 billion, a P/E ratio of 30.41, a P/E/G ratio of 3.38 and a beta of 1.34.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating the consensus estimate of $3.22 by $2.23. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.04 earnings per share. On average, analysts expect that Gartner, Inc. will post 12.5 earnings per share 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.