HM Payson & Co. Decreases Stock Holdings in Gartner, Inc. (NYSE:IT)

HM Payson & Co. decreased its holdings in shares of Gartner, Inc. (NYSE:IT) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,737 shares of the information technology services provider’s stock after selling 79 shares during the quarter. HM Payson & Co.’s holdings in Gartner were worth $1,326,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new stake in shares of Gartner in the fourth quarter valued at $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of Gartner in the third quarter valued at $44,000. SBI Securities Co. Ltd. purchased a new stake in shares of Gartner in the fourth quarter valued at $49,000. True Wealth Design LLC raised its stake in shares of Gartner by 2,350.0% in the third 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. Finally, Promus Capital LLC purchased a new stake in shares of Gartner in the fourth quarter valued at $57,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insiders Place Their Bets

In other news, Director Eileen Serra sold 1,200 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the sale, the director now directly owns 1,627 shares in the company, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares in the company, valued at $1,728,932.09. This represents a 2.69 % 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.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IT. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $525.00 to $600.00 in a research note on Friday, January 10th. Wells Fargo & Company reduced their price target 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. Robert W. Baird raised their price target 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, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $552.63.

Gartner Stock Down 0.2 %

Shares of Gartner stock opened at $482.18 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $584.01. The firm’s 50-day moving average is $509.85 and its two-hundred day moving average is $509.97. 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 (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 the consensus estimate of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company 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 business earned $3.04 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

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.