Pinnacle Wealth Planning Services Inc. Cuts Stock Holdings in Gartner, Inc. (NYSE:IT)

Pinnacle Wealth Planning Services Inc. trimmed its position in shares of Gartner, Inc. (NYSE:IT) by 23.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 522 shares of the information technology services provider’s stock after selling 159 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Gartner were worth $253,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in Gartner in the 4th quarter worth $165,476,000. Fisher Funds Management LTD purchased a new stake in Gartner in the 4th quarter worth $97,518,000. Proficio Capital Partners LLC purchased a new stake in Gartner in the 4th quarter worth $95,762,000. Assenagon Asset Management S.A. increased its holdings 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 worth $131,905,000 after acquiring an additional 183,974 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Gartner in the 3rd quarter worth $70,955,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $525.00 to $600.00 in a report on Friday, January 10th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Morgan Stanley lowered their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Robert W. Baird lifted their target price 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, Wells Fargo & Company lowered their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $552.63.

Insider Activity

In related news, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares in the company, valued at approximately $1,728,932.09. The trade was a 2.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the sale, the director now owns 1,627 shares in the company, 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. Corporate insiders own 3.60% of the company’s stock.

Gartner Trading Down 0.2 %

Shares of IT stock opened at $482.18 on Friday. The company’s 50-day moving average price is $509.94 and its 200-day moving average price is $509.98. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock has a market cap of $37.04 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 3.30 and a beta of 1.29. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $584.01.

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 firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.04 EPS. As a group, equities analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current year.

Gartner Company 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.