Massachusetts Financial Services Co. MA Lowers Holdings in Gartner, Inc. (NYSE:IT)

Massachusetts Financial Services Co. MA lessened its position in shares of Gartner, Inc. (NYSE:IT - Free Report) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,777,661 shares of the information technology services provider's stock after selling 105,705 shares during the quarter. Massachusetts Financial Services Co. MA owned 3.60% of Gartner worth $1,345,693,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Kestra Investment Management LLC purchased a new position in shares of Gartner during the fourth quarter worth $29,000. SBI Securities Co. Ltd. acquired a new stake in Gartner during the 4th quarter worth about $49,000. Promus Capital LLC purchased a new position in shares of Gartner during the 4th quarter valued at about $57,000. Global Retirement Partners LLC lifted its holdings in shares of Gartner by 14.0% in the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider's stock valued at $134,000 after buying an additional 34 shares during the period. Finally, Hanson & Doremus Investment Management purchased a new stake in shares of Gartner in the fourth quarter worth about $145,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Gartner Price Performance

Shares of NYSE IT traded down $21.84 during trading on Friday, hitting $383.12. The company had a trading volume of 995,758 shares, compared to its average volume of 436,285. Gartner, Inc. has a fifty-two week low of $382.23 and a fifty-two week high of $584.01. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock has a fifty day simple moving average of $482.71 and a two-hundred day simple moving average of $502.15. The firm has a market capitalization of $29.43 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 3.30 and a beta of 1.26.

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Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings data 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. Gartner had a return on equity of 116.56% and a net margin of 20.00%. 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 previous year, the firm posted $3.04 EPS. Gartner's revenue was up 8.1% compared to the same quarter last year. On average, research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP John J. Rinello sold 90 shares of the company's stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 3,259 shares in the company, valued at $1,728,932.09. This represents a 2.69 % 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 link. Also, Director Eileen Serra sold 1,200 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the transaction, the director now directly owns 1,627 shares in the company, valued at $796,855.79. This trade represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on IT. The Goldman Sachs Group reiterated a "buy" rating on shares of Gartner in a research report on Tuesday, February 4th. StockNews.com cut shares of Gartner from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. Barclays lowered their price target on shares of Gartner from $600.00 to $510.00 and set an "overweight" rating on the stock in a report on Friday. UBS Group cut their price objective on shares of Gartner from $565.00 to $500.00 and set a "buy" rating for the company in a report on Tuesday, March 25th. Finally, Robert W. Baird lowered their target price 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $525.38.

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.