Mutual of America Capital Management LLC Trims Stock Position in Gartner, Inc. (NYSE:IT)

Mutual of America Capital Management LLC decreased its holdings in Gartner, Inc. (NYSE:IT) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,239 shares of the information technology services provider’s stock after selling 250 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Gartner were worth $4,476,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new stake in Gartner during the fourth quarter valued at about $29,000. Ashton Thomas Securities LLC purchased a new position in shares of Gartner during the 3rd quarter valued at about $44,000. True Wealth Design LLC grew its stake in shares of Gartner by 2,350.0% during the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after acquiring an additional 94 shares during the period. Capital Performance Advisors LLP purchased a new stake in Gartner in the 3rd quarter worth approximately $77,000. Finally, Global Retirement Partners LLC raised its stake in Gartner by 14.0% during the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock worth $134,000 after acquiring an additional 34 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Gartner Price Performance

NYSE:IT opened at $482.52 on Wednesday. The business’s 50-day moving average is $510.20 and its 200 day moving average is $510.31. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $584.01. The company has a market capitalization of $37.07 billion, a P/E ratio of 30.10, a P/E/G ratio of 3.30 and a beta of 1.34. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81.

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

Insider Activity at Gartner

In other news, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction 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. The trade was a 42.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP William James Wartinbee III sold 189 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $523.54, for a total value of $98,949.06. Following the sale, the executive vice president now owns 7,311 shares in the company, valued at $3,827,600.94. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,479 shares of company stock valued at $734,419 over the last 90 days. 3.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

IT has been the subject of a number of analyst reports. Morgan Stanley reduced their price objective 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. Robert W. Baird increased their price target on Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $552.63.

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.