Chevy Chase Trust Holdings LLC Lowers Stock Holdings in Gartner, Inc. (NYSE:IT)

Chevy Chase Trust Holdings LLC lessened its stake in Gartner, Inc. (NYSE:IT - Free Report) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,480 shares of the information technology services provider's stock after selling 838 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Gartner worth $19,611,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Eastern Bank acquired a new stake in Gartner in the third quarter valued at $26,000. Ashton Thomas Securities LLC bought a new position in Gartner during the third quarter worth about $44,000. True Wealth Design LLC grew its stake in Gartner by 2,350.0% during the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider's stock worth $50,000 after buying an additional 94 shares in the last quarter. Fortitude Family Office LLC grew its stake in Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider's stock worth $53,000 after buying an additional 20 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in Gartner during the third quarter worth about $77,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Gartner Stock Up 0.6 %

Shares of IT stock traded up $2.87 during trading hours on Wednesday, hitting $516.02. 406,492 shares of the company's stock traded hands, compared to its average volume of 477,775. The stock's fifty day simple moving average is $510.10 and its two-hundred day simple moving average is $508.59. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $584.01. The stock has a market cap of $39.80 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 3.37 and a beta of 1.34. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the business earned $3.04 EPS. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. On average, analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

Insiders Place Their Bets

In other news, SVP John J. Rinello sold 90 shares of the business's stock in a transaction on 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 of the company's stock, valued at $1,728,932.09. The trade was a 2.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James C. Smith sold 5,000 shares of the business's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $524.02, for a total transaction of $2,620,100.00. Following the sale, the director now directly owns 509,457 shares of the company's stock, valued at approximately $266,965,657.14. The trade was a 0.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,690 shares of company stock valued at $2,981,025. Company insiders own 3.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on IT shares. Robert W. Baird raised their price target on shares of Gartner from $579.00 to $605.00 and gave the company an "outperform" rating in a research note on Wednesday, February 5th. Wells Fargo & Company lowered their price objective on Gartner from $470.00 to $460.00 and set an "underweight" rating for the company in a research report on Friday, January 10th. Barclays upgraded Gartner from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $525.00 to $600.00 in a research note on Friday, January 10th. StockNews.com upgraded Gartner from a "hold" rating to a "buy" rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley cut their price target on Gartner from $564.00 to $555.00 and set an "equal weight" rating for the company in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Gartner presently has an average rating of "Hold" and an average price target of $552.63.

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.