MAI Capital Management Lowers Holdings in Gartner, Inc. (NYSE:IT)

MAI Capital Management decreased its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 12.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,587 shares of the information technology services provider's stock after selling 2,252 shares during the period. MAI Capital Management's holdings in Gartner were worth $7,899,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Eastern Bank purchased a new position in shares of Gartner in the third quarter valued at $26,000. Crewe Advisors LLC boosted its position in shares of Gartner by 223.3% in the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider's stock valued at $44,000 after acquiring an additional 67 shares during the period. Ashton Thomas Securities LLC bought a new stake in Gartner during the 3rd quarter worth approximately $44,000. Fortitude Family Office LLC lifted its stake in Gartner by 23.8% in the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider's stock worth $53,000 after purchasing an additional 20 shares in the last quarter. Finally, Asset Dedication LLC boosted its holdings in Gartner by 46.5% in the 3rd quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider's stock valued at $75,000 after purchasing an additional 47 shares during the period. Institutional investors own 91.51% of the company's stock.

Gartner Trading Down 0.6 %

Shares of Gartner stock traded down $3.00 during trading on Tuesday, reaching $517.73. 377,285 shares of the stock were exchanged, compared to its average volume of 369,883. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $559.00. The firm has a market cap of $39.93 billion, a price-to-earnings ratio of 38.40, a price-to-earnings-growth ratio of 3.27 and a beta of 1.32. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. The stock's fifty day moving average is $518.32 and its 200 day moving average is $478.34.

Gartner (NYSE:IT - Get Free Report) last posted its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.05. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business's revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.56 earnings per share. As a group, equities research analysts expect that Gartner, Inc. will post 11.89 earnings per share for the current fiscal year.

Insider Transactions at Gartner

In related news, Director James C. Smith sold 2,450 shares of Gartner stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $554.68, for a total transaction of $1,358,966.00. Following the sale, the director now directly owns 529,844 shares in the company, valued at $293,893,869.92. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Yvonne Genovese sold 443 shares of the firm's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $483.62, for a total value of $214,243.66. Following the transaction, the executive vice president now directly owns 1,959 shares of the company's stock, valued at $947,411.58. This represents a 18.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,172 shares of company stock valued at $38,023,255. Company insiders own 3.60% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on IT shares. Morgan Stanley increased their price target on shares of Gartner from $490.00 to $528.00 and gave the stock an "equal weight" rating in a report on Thursday, October 10th. Bank of America increased their price target on shares of Gartner from $525.00 to $580.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. BMO Capital Markets upped their price objective on shares of Gartner from $450.00 to $510.00 and gave the company a "market perform" rating in a research note on Wednesday, July 31st. Barclays lifted their target price on shares of Gartner from $470.00 to $525.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Gartner from $529.00 to $531.00 and gave the company a "hold" rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $539.25.

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.