Mackenzie Financial Corp Sells 24,856 Shares of Gartner, Inc. (NYSE:IT)

Mackenzie Financial Corp reduced its stake in Gartner, Inc. (NYSE:IT - Free Report) by 3.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 784,821 shares of the information technology services provider's stock after selling 24,856 shares during the period. Mackenzie Financial Corp owned 1.01% of Gartner worth $352,432,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Moors & Cabot Inc. grew its position in shares of Gartner by 3.0% during the 2nd quarter. Moors & Cabot Inc. now owns 763 shares of the information technology services provider's stock worth $343,000 after buying an additional 22 shares during the period. TIAA Trust National Association boosted its position in shares of Gartner by 3.2% during the first quarter. TIAA Trust National Association now owns 744 shares of the information technology services provider's stock worth $355,000 after purchasing an additional 23 shares in the last quarter. Mather Group LLC. increased its position in shares of Gartner by 2.2% in the 2nd quarter. Mather Group LLC. now owns 1,079 shares of the information technology services provider's stock valued at $514,000 after buying an additional 23 shares in the last quarter. Mcdonald Partners LLC grew its stake in Gartner by 0.5% in the second quarter. Mcdonald Partners LLC now owns 5,550 shares of the information technology services provider's stock valued at $2,492,000 after acquiring an additional 25 shares during the period. Finally, Marks Group Wealth Management Inc raised its position in shares of Gartner by 0.8% during the first quarter. Marks Group Wealth Management Inc now owns 3,916 shares of the information technology services provider's stock worth $1,867,000 after purchasing an additional 30 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Gartner Stock Performance

IT opened at $516.47 on Friday. Gartner, Inc. has a 52-week low of $323.61 and a 52-week high of $521.64. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. The business's 50-day simple moving average is $487.35 and its 200 day simple moving average is $463.49. The firm has a market capitalization of $40.09 billion, a PE ratio of 51.39, a PEG ratio of 3.21 and a beta of 1.32.

Gartner (NYSE:IT - Get Free Report) last issued its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.20. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. Gartner's revenue was up 6.1% on a year-over-year basis. During the same period last year, the business posted $2.85 EPS. As a group, sell-side analysts expect that Gartner, Inc. will post 11.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Gartner

In other Gartner news, EVP Akhil Jain sold 400 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $485.00, for a total value of $194,000.00. Following the transaction, the executive vice president now directly owns 4,839 shares of the company's stock, valued at approximately $2,346,915. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Akhil Jain sold 400 shares of the business's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $485.00, for a total value of $194,000.00. Following the completion of the sale, the executive vice president now owns 4,839 shares of the company's stock, valued at $2,346,915. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anne Sutherland Fuchs sold 500 shares of Gartner stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $505.28, for a total transaction of $252,640.00. Following the completion of the sale, the director now owns 8,059 shares of the company's stock, valued at approximately $4,072,051.52. The disclosure for this sale can be found here. Insiders sold 65,164 shares of company stock valued at $32,601,014 in the last quarter. 3.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on IT shares. BMO Capital Markets increased their target price on Gartner from $450.00 to $510.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 31st. UBS Group raised their price objective on shares of Gartner from $510.00 to $580.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Robert W. Baird upped their target price on shares of Gartner from $517.00 to $565.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 31st. StockNews.com downgraded Gartner from a "buy" rating to a "hold" rating in a research note on Wednesday, July 17th. Finally, Bank of America boosted their price target on Gartner from $525.00 to $580.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $521.00.

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.

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