Gartner, Inc. (NYSE:IT) Shares Sold by Perpetual Ltd

Perpetual Ltd reduced its stake in Gartner, Inc. (NYSE:IT) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,851 shares of the information technology services provider’s stock after selling 34 shares during the quarter. Perpetual Ltd’s holdings in Gartner were worth $897,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Canada Pension Plan Investment Board lifted its position in shares of Gartner by 105.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 17,406 shares of the information technology services provider’s stock worth $7,816,000 after purchasing an additional 8,931 shares during the last quarter. Pacer Advisors Inc. increased its position in Gartner by 7.4% during the second quarter. Pacer Advisors Inc. now owns 8,013 shares of the information technology services provider’s stock worth $3,598,000 after buying an additional 553 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Gartner by 960.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 34,949 shares of the information technology services provider’s stock valued at $15,694,000 after purchasing an additional 31,653 shares during the last quarter. Profund Advisors LLC boosted its position in Gartner by 6.1% during the 2nd quarter. Profund Advisors LLC now owns 1,647 shares of the information technology services provider’s stock worth $740,000 after buying an additional 95 shares during the period. Finally, ProShare Advisors LLC increased its stake in shares of Gartner by 6.6% in the second quarter. ProShare Advisors LLC now owns 14,240 shares of the information technology services provider’s stock valued at $6,395,000 after buying an additional 885 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Gartner Price Performance

Shares of IT stock opened at $524.80 on Thursday. The stock has a 50-day moving average price of $505.78 and a 200 day moving average price of $499.91. The firm has a market cap of $40.48 billion, a price-to-earnings ratio of 38.70, a PEG ratio of 2.87 and a beta of 1.33. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $559.00. 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 results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.56 EPS. Research analysts expect that Gartner, Inc. will post 11.87 EPS for the current year.

Wall Street Analyst Weigh In

IT has been the subject of several research analyst reports. Wells Fargo & Company decreased their price target 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. Deutsche Bank Aktiengesellschaft increased their price target on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Robert W. Baird raised their target price on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Finally, Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Gartner currently has a consensus rating of “Hold” and a consensus target price of $550.75.

Insider Transactions at Gartner

In related news, EVP William James Wartinbee III sold 189 shares of the 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 sale, the executive vice president now owns 7,311 shares in the company, valued at approximately $3,827,600.94. This represents a 2.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Claire Herkes sold 411 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total value of $214,229.64. Following the sale, the executive vice president now owns 1,494 shares of the company’s stock, valued at $778,732.56. This trade represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,583 shares of company stock valued at $19,241,974. 3.60% of the stock is currently owned by company insiders.

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.