Eagle Asset Management Inc. Cuts Position in Gartner, Inc. (NYSE:IT)

Eagle Asset Management Inc. lessened its position in shares of Gartner, Inc. (NYSE:IT - Free Report) by 8.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 208,001 shares of the information technology services provider's stock after selling 19,503 shares during the quarter. Eagle Asset Management Inc. owned 0.27% of Gartner worth $113,860,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Lake Street Advisors Group LLC acquired a new position in Gartner during the first quarter valued at $304,000. CreativeOne Wealth LLC acquired a new position in shares of Gartner in the 1st quarter valued at about $222,000. Magnetar Financial LLC acquired a new stake in Gartner during the first quarter worth about $1,049,000. Price T Rowe Associates Inc. MD raised its position in Gartner by 38.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 414,559 shares of the information technology services provider's stock valued at $197,608,000 after acquiring an additional 114,610 shares in the last quarter. Finally, Third Point LLC acquired a new position in Gartner in the first quarter valued at approximately $26,217,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director James C. Smith sold 2,450 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $554.68, for a total value of $1,358,966.00. Following the transaction, the director now directly owns 529,844 shares in the company, valued at approximately $293,893,869.92. This represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Scott Hensel sold 5,580 shares of the firm's stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $490.00, for a total value of $2,734,200.00. Following the sale, the executive vice president now directly owns 19,724 shares of the company's stock, valued at approximately $9,664,760. This trade represents a 22.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,172 shares of company stock worth $38,023,255. 3.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on IT shares. Barclays lifted their target price on shares of Gartner from $470.00 to $525.00 and gave the company an "equal weight" rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Gartner from $529.00 to $531.00 and gave the stock a "hold" rating in a research report on Wednesday, November 6th. StockNews.com upgraded Gartner from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th. Bank of America upped their price target on Gartner from $525.00 to $580.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Finally, Morgan Stanley raised their price objective on Gartner from $490.00 to $528.00 and gave the company an "equal weight" rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Gartner has an average rating of "Hold" and a consensus target price of $539.25.

Gartner Price Performance

Shares of Gartner stock traded down $2.63 during mid-day trading on Friday, reaching $516.61. 138,805 shares of the stock traded hands, compared to its average volume of 370,064. The stock has a market capitalization of $39.85 billion, a PE ratio of 38.53, a PEG ratio of 3.23 and a beta of 1.32. The business has a 50-day moving average of $519.89 and a 200 day moving average of $480.23. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $559.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the company earned $2.56 EPS. The firm's revenue was up 5.4% compared to the same quarter last year. On average, analysts predict that Gartner, Inc. will post 11.89 EPS 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.