Pinebridge Investments L.P. Sells 8,040 Shares of Gartner, Inc. (NYSE:IT)

Pinebridge Investments L.P. lessened its stake in Gartner, Inc. (NYSE:IT - Free Report) by 20.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,845 shares of the information technology services provider's stock after selling 8,040 shares during the quarter. Pinebridge Investments L.P.'s holdings in Gartner were worth $14,943,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of IT. Kestra Investment Management LLC bought a new position in Gartner during the 4th quarter valued at $29,000. SBI Securities Co. Ltd. bought a new position in shares of Gartner during the fourth quarter valued at about $49,000. Promus Capital LLC bought a new position in shares of Gartner during the fourth quarter valued at about $57,000. Hurley Capital LLC purchased a new position in Gartner during the fourth quarter worth about $73,000. Finally, Global Retirement Partners LLC grew its position in Gartner by 14.0% in the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider's stock worth $134,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Insiders Place Their Bets

In other Gartner news, Director Eileen Serra sold 1,200 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the senior vice president now owns 3,259 shares of the company's stock, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is owned by corporate insiders.

Gartner Stock Performance

Shares of NYSE IT traded down $1.48 during midday trading on Friday, hitting $416.37. The company's stock had a trading volume of 714,574 shares, compared to its average volume of 453,869. The firm has a market capitalization of $31.98 billion, a price-to-earnings ratio of 25.97, a P/E/G ratio of 3.30 and a beta of 1.26. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock has a fifty day moving average price of $437.85 and a 200 day moving average price of $489.03. Gartner, Inc. has a one year low of $366.05 and a one year high of $584.01.

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

Wall Street Analysts Forecast Growth

IT has been the topic of a number of research analyst reports. Robert W. Baird cut their target price on Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. 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 research report on Thursday, January 16th. UBS Group lowered their target price on Gartner from $565.00 to $500.00 and set a "buy" rating on the stock in a research note on Tuesday, March 25th. Barclays lowered their price objective on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Finally, Wells Fargo & Company decreased their price target on shares of Gartner from $488.00 to $401.00 and set an "underweight" rating for the company in a research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $513.63.

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.