Gartner, Inc. (NYSE:IT) Shares Sold by Polen Capital Management LLC

Polen Capital Management LLC lessened its position in shares of Gartner, Inc. (NYSE:IT) by 38.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 902,690 shares of the information technology services provider’s stock after selling 566,700 shares during the quarter. Gartner makes up about 1.2% of Polen Capital Management LLC’s holdings, making the stock its 24th largest position. Polen Capital Management LLC owned about 1.17% of Gartner worth $437,326,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in IT. Madison Investment Advisors LLC acquired a new position in Gartner in the 4th quarter valued at about $244,799,000. Raymond James Financial Inc. acquired a new position in Gartner in the 4th quarter valued at about $165,476,000. Fisher Funds Management LTD acquired a new position in Gartner in the 4th quarter valued at about $97,518,000. Proficio Capital Partners LLC acquired a new position in Gartner in the 4th quarter valued at about $95,762,000. Finally, Assenagon Asset Management S.A. raised its stake in Gartner by 208.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 272,267 shares of the information technology services provider’s stock valued at $131,905,000 after purchasing an additional 183,974 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on IT shares. Morgan Stanley cut their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Wells Fargo & Company dropped their price objective on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, March 5th. Finally, Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $525.00 to $600.00 in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $552.63.

Gartner Stock Up 1.2 %

Shares of NYSE:IT opened at $457.45 on Monday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $584.01. The stock has a market capitalization of $35.14 billion, a P/E ratio of 28.54, a PEG ratio of 3.30 and a beta of 1.29. The stock has a 50-day simple moving average of $507.51 and a 200-day simple moving average of $509.64.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $2.23. The business 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 company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.04 EPS. Equities analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP John J. Rinello sold 90 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 3,259 shares in the company, valued at approximately $1,728,932.09. This represents a 2.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the transaction, the director now owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.

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.