Gartner, Inc. (NYSE:IT) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 8.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,883,366 shares of the information technology services provider's stock after selling 251,075 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 3.74% of Gartner worth $1,461,175,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eastern Bank bought a new stake in Gartner in the third quarter worth $26,000. Crewe Advisors LLC increased its stake in shares of Gartner by 223.3% during the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider's stock valued at $44,000 after buying an additional 67 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Gartner during the third quarter valued at $44,000. Fortitude Family Office LLC increased its stake in shares of Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider's stock valued at $53,000 after buying an additional 20 shares during the period. Finally, Asset Dedication LLC increased its stake in shares of Gartner by 46.5% during the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider's stock valued at $75,000 after buying an additional 47 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Eugene A. Hall sold 34,060 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the completion of the transaction, the chief executive officer now directly owns 1,143,401 shares of the company's stock, valued at $577,874,865.40. This represents a 2.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Yvonne Genovese sold 443 shares of the company's stock in a transaction that occurred on Monday, August 26th. The stock was 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 approximately $947,411.58. The trade was a 18.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,172 shares of company stock worth $38,023,255. Corporate insiders own 3.60% of the company's stock.

Gartner Stock Performance

NYSE IT traded up $1.54 during trading hours on Thursday, reaching $519.54. The stock had a trading volume of 338,900 shares, compared to its average volume of 371,088. The stock has a fifty day moving average of $519.61 and a 200 day moving average of $479.95. The stock has a market cap of $40.07 billion, a P/E ratio of 38.29, a price-to-earnings-growth ratio of 3.23 and a beta of 1.32. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $559.00. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02.

Gartner (NYSE:IT - Get Free Report) last issued its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the firm earned $2.56 earnings per share. Gartner's revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts predict that Gartner, Inc. will post 11.89 earnings per share for the current year.

Analysts Set New Price Targets

IT has been the topic of several analyst reports. Robert W. Baird lifted their target price on Gartner from $565.00 to $590.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. UBS Group lifted their target price on Gartner from $510.00 to $580.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their target price on Gartner from $529.00 to $531.00 and gave the company a "hold" rating in a research note on Wednesday, November 6th. Morgan Stanley raised their price target on Gartner from $490.00 to $528.00 and gave the stock an "equal weight" rating in a report on Thursday, October 10th. Finally, StockNews.com raised Gartner from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $539.25.

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.