Aviva PLC Sells 29,689 Shares of Gartner, Inc. (NYSE:IT)

Aviva PLC lowered its stake in Gartner, Inc. (NYSE:IT - Free Report) by 38.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 47,532 shares of the information technology services provider's stock after selling 29,689 shares during the period. Aviva PLC owned approximately 0.06% of Gartner worth $23,028,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of IT. Dynamic Technology Lab Private Ltd raised its position in Gartner by 6.6% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 1,370 shares of the information technology services provider's stock valued at $664,000 after purchasing an additional 85 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new position in shares of Gartner during the 4th quarter worth $57,037,000. Prudential PLC lifted its position in shares of Gartner by 23.9% during the 4th quarter. Prudential PLC now owns 10,340 shares of the information technology services provider's stock worth $5,009,000 after buying an additional 1,995 shares during the last quarter. ExodusPoint Capital Management LP boosted its stake in Gartner by 290.5% in the fourth quarter. ExodusPoint Capital Management LP now owns 12,056 shares of the information technology services provider's stock valued at $5,841,000 after buying an additional 8,969 shares in the last quarter. Finally, Motley Fool Asset Management LLC grew its position in Gartner by 14.5% in the fourth quarter. Motley Fool Asset Management LLC now owns 4,165 shares of the information technology services provider's stock valued at $2,018,000 after acquiring an additional 529 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Remove Ads

Gartner Trading Up 1.3 %

NYSE:IT traded up $5.14 during trading hours on Friday, hitting $397.17. 189,701 shares of the company were exchanged, compared to its average volume of 447,427. The stock has a market capitalization of $30.51 billion, a price-to-earnings ratio of 24.73, a price-to-earnings-growth ratio of 3.30 and a beta of 1.26. Gartner, Inc. has a one year low of $366.05 and a one year high of $584.01. The company has a fifty day simple moving average of $464.31 and a 200 day simple moving average of $497.11. 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 issued its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period last year, the company earned $3.04 earnings per share. The firm's revenue was up 8.1% compared to the same quarter last year. Sell-side analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Transactions at Gartner

In other news, SVP John J. Rinello sold 90 shares of Gartner 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 approximately $1,728,932.09. This trade represents a 2.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eileen Serra sold 1,200 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the sale, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. The trade was a 42.45 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird reduced 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. Wells Fargo & Company cut their target price on shares of Gartner from $488.00 to $401.00 and set an "underweight" rating on the stock in a research report on Wednesday. The Goldman Sachs Group reiterated a "buy" rating on shares of Gartner in a report on Tuesday, February 4th. Morgan Stanley cut their price objective on Gartner from $564.00 to $555.00 and set an "equal weight" rating on the stock in a report on Thursday, January 16th. Finally, UBS Group lowered their target price on Gartner from $565.00 to $500.00 and set a "buy" rating for the company in a report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Gartner currently has an average rating of "Hold" and an average target price of $518.00.

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.