Blueshift Asset Management LLC Sells 1,183 Shares of Gartner, Inc. (NYSE:IT)

Blueshift Asset Management LLC lessened its stake in Gartner, Inc. (NYSE:IT) by 61.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 736 shares of the information technology services provider’s stock after selling 1,183 shares during the quarter. Blueshift Asset Management LLC’s holdings in Gartner were worth $357,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Kestra Investment Management LLC acquired a new stake in Gartner in the 4th quarter valued at $29,000. True Wealth Design LLC raised its stake in 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 buying an additional 94 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Gartner during the 4th quarter worth about $49,000. Promus Capital LLC bought a new stake in Gartner in the 4th quarter valued at $57,000. Finally, Global Retirement Partners LLC boosted its position in shares of Gartner by 14.0% in the fourth quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock valued at $134,000 after acquiring an additional 34 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Gartner

In other Gartner news, Director Eileen Serra sold 1,200 shares of the stock in a transaction 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 sale, the director now owns 1,627 shares in the company, valued at $796,855.79. This represents a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of the transaction, the senior vice president now owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Morgan Stanley cut their target price on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. Robert W. Baird dropped their price objective on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a report on Friday. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a report on Friday. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $546.63.

Gartner Trading Up 2.7 %

Shares of IT stock opened at $430.03 on Friday. Gartner, Inc. has a 12-month low of $409.50 and a 12-month high of $584.01. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The company has a 50 day moving average of $502.37 and a 200-day moving average of $507.66. The firm has a market cap of $33.03 billion, a P/E ratio of 26.83, 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, beating the consensus estimate of $3.22 by $2.23. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The business’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.04 earnings per share. Sell-side analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current year.

Gartner 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.