Envestnet Portfolio Solutions Inc. Decreases Stake in Gartner, Inc. (NYSE:IT)

Envestnet Portfolio Solutions Inc. lowered its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 58.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,657 shares of the information technology services provider's stock after selling 3,783 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Gartner were worth $1,287,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Kestra Investment Management LLC purchased a new position in shares of Gartner in the fourth quarter worth about $29,000. SBI Securities Co. Ltd. bought a new position in shares of Gartner in the fourth quarter valued at approximately $49,000. True Wealth Design LLC raised its position 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 worth $50,000 after buying an additional 94 shares in the last quarter. Promus Capital LLC purchased a new stake in Gartner in the fourth quarter valued at approximately $57,000. Finally, Global Retirement Partners LLC raised its position in shares of Gartner by 14.0% during the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider's stock valued at $134,000 after buying an additional 34 shares in the last quarter. Institutional investors own 91.51% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on IT shares. Wells Fargo & Company cut their target price on Gartner from $470.00 to $460.00 and set an "underweight" rating for the company in a research note on Friday, January 10th. Barclays raised Gartner from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $525.00 to $600.00 in a research report on Friday, January 10th. Robert W. Baird reduced their target price on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Morgan Stanley lowered their price target 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. Finally, StockNews.com lowered Gartner from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $536.63.

Remove Ads

Gartner Price Performance

Shares of IT stock traded up $4.67 on Wednesday, reaching $426.43. The company's stock had a trading volume of 745,143 shares, compared to its average volume of 586,402. Gartner, Inc. has a 1 year low of $409.50 and a 1 year high of $584.01. The company has a market capitalization of $32.76 billion, a price-to-earnings ratio of 26.60, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29. The stock's fifty day simple moving average is $499.54 and its 200-day simple moving average is $507.17. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81.

Gartner (NYSE:IT - Get Free Report) last released its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating analysts' consensus estimates of $3.22 by $2.23. The firm had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The company's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.04 earnings per share. Analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Eileen Serra sold 1,200 shares of the firm's stock in a transaction dated 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 directly owns 1,627 shares of the company's stock, valued at $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John J. Rinello sold 90 shares of the company's stock in a transaction dated Monday, February 10th. The stock was 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 directly 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 disclosure for this sale can be found here. 3.60% of the stock is currently owned by company insiders.

Gartner Company 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.