Gartner, Inc. (NYSE:IT) Shares Sold by Blueshift Asset Management LLC

Blueshift Asset Management LLC cut its position in Gartner, Inc. (NYSE:IT - Free Report) by 61.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 736 shares of the information technology services provider's stock after selling 1,183 shares during the period. Blueshift Asset Management LLC's holdings in Gartner were worth $357,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in Gartner by 5.5% during the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider's stock valued at $1,014,099,000 after purchasing an additional 103,814 shares during the period. Jennison Associates LLC lifted its holdings in shares of Gartner by 15.5% in the 3rd quarter. Jennison Associates LLC now owns 105,769 shares of the information technology services provider's stock valued at $53,599,000 after buying an additional 14,167 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in Gartner by 20.2% in the third quarter. Citizens Financial Group Inc. RI now owns 947 shares of the information technology services provider's stock valued at $480,000 after acquiring an additional 159 shares during the period. Landscape Capital Management L.L.C. purchased a new stake in Gartner during the third quarter worth $422,000. Finally, Banco Santander S.A. acquired a new stake in shares of Gartner during the 3rd quarter valued at about $646,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 completion of the transaction, the director now directly owns 1,627 shares in the company, valued at approximately $796,855.79. This represents a 42.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 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 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. Corporate insiders own 3.60% of the company's stock.

Remove Ads

Analysts Set New Price Targets

A number of analysts have recently commented on the company. UBS Group cut their price objective on Gartner from $565.00 to $500.00 and set a "buy" rating for the company in a research report on Tuesday. Wells Fargo & Company cut their price target on shares of Gartner from $470.00 to $460.00 and set an "underweight" rating for the company in a report on Friday, January 10th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Gartner in a report on Tuesday, February 4th. 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. Finally, Robert W. Baird decreased their price target on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $536.63.

Gartner Price Performance

NYSE IT traded up $4.67 during trading hours on Wednesday, hitting $426.43. 745,145 shares of the company's stock traded hands, compared to its average volume of 399,964. The company has a market capitalization of $32.76 billion, a PE ratio of 26.60, a PEG ratio of 3.30 and a beta of 1.29. 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 52-week low of $409.50 and a 52-week high of $584.01. The firm's 50-day moving average is $499.54 and its 200-day moving average is $507.17.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.69 billion. During the same period in the prior year, the business earned $3.04 earnings per share. The business's revenue was up 8.1% compared to the same quarter last year. Equities analysts forecast that Gartner, Inc. will post 12.5 EPS 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.