Bank of New York Mellon Corp Sells 9,658 Shares of Gartner, Inc. (NYSE:IT)

Bank of New York Mellon Corp cut its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 496,936 shares of the information technology services provider's stock after selling 9,658 shares during the period. Bank of New York Mellon Corp owned 0.64% of Gartner worth $240,751,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Kestra Investment Management LLC acquired a new stake in Gartner during the 4th quarter worth $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Gartner during the third quarter worth $44,000. True Wealth Design LLC raised its holdings in shares of 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 acquiring an additional 94 shares during the period. Capital Performance Advisors LLP bought a new stake in Gartner in the 3rd quarter valued at $77,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its stake in Gartner by 20.8% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 261 shares of the information technology services provider's stock worth $132,000 after purchasing an additional 45 shares during the period. Institutional investors own 91.51% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on IT. Barclays upgraded Gartner from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $525.00 to $600.00 in a report on Friday, January 10th. Wells Fargo & Company reduced their price target on Gartner from $470.00 to $460.00 and set an "underweight" rating for the company in a research report on Friday, January 10th. Morgan Stanley decreased their price target on shares of Gartner from $564.00 to $555.00 and set an "equal weight" rating for the company in a research note on Thursday, January 16th. The Goldman Sachs Group reissued a "buy" rating on shares of Gartner in a research report on Tuesday, February 4th. Finally, Robert W. Baird raised their target price on shares of Gartner from $579.00 to $605.00 and gave the company an "outperform" rating in a research report on Wednesday, February 5th. 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. Based on data from MarketBeat.com, Gartner presently has an average rating of "Hold" and a consensus price target of $552.63.

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Gartner Stock Performance

NYSE IT traded down $7.99 on Monday, hitting $490.33. 342,054 shares of the stock were exchanged, compared to its average volume of 474,989. The company has a market capitalization of $37.67 billion, a PE ratio of 30.59, a P/E/G ratio of 3.30 and a beta of 1.34. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The business's fifty day moving average is $510.13 and its 200 day moving average is $510.27. Gartner, Inc. has a 52 week low of $411.15 and a 52 week high of $584.01.

Gartner (NYSE:IT - Get Free Report) last issued its 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 net margin of 20.00% and a return on equity of 116.56%. The company had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.69 billion. During the same period in the prior year, the firm earned $3.04 EPS. Gartner's quarterly revenue was up 8.1% compared to the same quarter last year. Research analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Activity

In other Gartner news, EVP William James Wartinbee III sold 189 shares of the company's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $523.54, for a total value of $98,949.06. Following the transaction, the executive vice president now directly owns 7,311 shares in the company, valued at $3,827,600.94. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 owns 1,627 shares of the company's stock, valued at approximately $796,855.79. This represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,479 shares of company stock valued at $734,419 over the last three months. Insiders own 3.60% of the company's stock.

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.