McCollum Christoferson Group LLC Has $11.76 Million Stock Position in Gartner, Inc. (NYSE:IT)

McCollum Christoferson Group LLC trimmed its stake in shares of Gartner, Inc. (NYSE:IT) by 4.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,182 shares of the information technology services provider’s stock after selling 1,191 shares during the quarter. Gartner comprises approximately 3.5% of McCollum Christoferson Group LLC’s investment portfolio, making the stock its 6th biggest position. McCollum Christoferson Group LLC’s holdings in Gartner were worth $11,757,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sheaff Brock Investment Advisors LLC boosted its position in shares of Gartner by 0.5% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 4,900 shares of the information technology services provider’s stock valued at $2,210,000 after acquiring an additional 22 shares during the period. TIAA Trust National Association boosted its position in shares of Gartner by 3.2% in the first quarter. TIAA Trust National Association now owns 744 shares of the information technology services provider’s stock valued at $355,000 after acquiring an additional 23 shares during the period. Mather Group LLC. boosted its position in shares of Gartner by 2.2% in the second quarter. Mather Group LLC. now owns 1,079 shares of the information technology services provider’s stock valued at $514,000 after acquiring an additional 23 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of Gartner by 36.2% in the fourth quarter. Hexagon Capital Partners LLC now owns 94 shares of the information technology services provider’s stock valued at $42,000 after acquiring an additional 25 shares during the period. Finally, Coldstream Capital Management Inc. raised its stake in Gartner by 1.5% in the fourth quarter. Coldstream Capital Management Inc. now owns 1,715 shares of the information technology services provider’s stock valued at $774,000 after purchasing an additional 25 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Gartner Stock Up 1.3 %

NYSE IT traded up $6.08 during mid-day trading on Friday, hitting $491.96. The company’s stock had a trading volume of 418,196 shares, compared to its average volume of 394,223. The company’s 50 day simple moving average is $467.82 and its 200 day simple moving average is $457.68. Gartner, Inc. has a twelve month low of $323.61 and a twelve month high of $509.15. The company has a current ratio of 0.90, a quick ratio of 0.91 and a debt-to-equity ratio of 3.80. The firm has a market capitalization of $38.19 billion, a price-to-earnings ratio of 48.95, a PEG ratio of 3.80 and a beta of 1.33.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.20. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the firm posted $2.85 EPS. Gartner’s revenue was up 6.1% compared to the same quarter last year. Analysts anticipate that Gartner, Inc. will post 11.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

IT has been the subject of a number of analyst reports. Bank of America boosted their price target on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets boosted their target price on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Morgan Stanley boosted their target price on Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Finally, UBS Group boosted their target price on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $521.00.

Insider Buying and Selling at Gartner

In other news, CEO Eugene A. Hall sold 12,082 shares of Gartner stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $504.84, for a total transaction of $6,099,476.88. Following the sale, the chief executive officer now directly owns 1,143,389 shares in the company, valued at approximately $577,228,502.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Craig Safian sold 6,310 shares of Gartner stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $483.57, for a total value of $3,051,326.70. Following the completion of the sale, the chief financial officer now owns 71,544 shares of the company’s stock, valued at approximately $34,596,532.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Eugene A. Hall sold 12,082 shares of Gartner stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $504.84, for a total value of $6,099,476.88. Following the completion of the sale, the chief executive officer now directly owns 1,143,389 shares of the company’s stock, valued at approximately $577,228,502.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,123 shares of company stock worth $15,796,036. Corporate insiders own 3.60% of the company’s stock.

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.