PNC Financial Services Group Inc. Has $17.50 Million Stock Position in Gartner, Inc. (NYSE:IT)

PNC Financial Services Group Inc. reduced its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,118 shares of the information technology services provider's stock after selling 3,089 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Gartner were worth $17,498,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Machina Capital S.A.S. acquired a new stake in shares of Gartner in the 4th quarter worth approximately $2,032,000. Haven Private LLC acquired a new stake in Gartner in the fourth quarter worth approximately $372,000. Andra AP fonden boosted its stake in Gartner by 18.8% during the 4th quarter. Andra AP fonden now owns 125,500 shares of the information technology services provider's stock valued at $60,801,000 after purchasing an additional 19,900 shares in the last quarter. Callan Family Office LLC bought a new stake in shares of Gartner in the 4th quarter worth $442,000. Finally, E Fund Management Co. Ltd. lifted its holdings in shares of Gartner by 15.4% in the fourth quarter. E Fund Management Co. Ltd. now owns 2,729 shares of the information technology services provider's stock valued at $1,322,000 after buying an additional 365 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Price Performance

Shares of IT traded down $2.56 on Wednesday, hitting $463.75. The company's stock had a trading volume of 118,306 shares, compared to its average volume of 371,164. The company has a 50 day moving average price of $509.21 and a 200 day moving average price of $510.21. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $584.01. The company has a market capitalization of $35.62 billion, a PE ratio of 28.95, a PEG ratio of 3.30 and a beta of 1.29. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06.

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Gartner (NYSE:IT - Get Free Report) last announced its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 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 quarter in the prior year, the business earned $3.04 earnings per share. The business's revenue for the quarter was up 8.1% on a year-over-year basis. On average, research analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Gartner news, Director Eileen Serra sold 1,200 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the transaction, the director now directly owns 1,627 shares in the company, valued at approximately $796,855.79. This represents a 42.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now owns 3,259 shares of the company's stock, valued at approximately $1,728,932.09. This represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on IT shares. Barclays raised Gartner from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $525.00 to $600.00 in a report on Friday, January 10th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Gartner in a research note on Tuesday, February 4th. StockNews.com raised shares of Gartner from a "hold" rating to a "buy" rating in a research note on Wednesday, March 5th. Robert W. Baird lifted their price target on shares of Gartner from $579.00 to $605.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 5th. Finally, Morgan Stanley cut their price objective on Gartner from $564.00 to $555.00 and set an "equal weight" rating for the company in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Gartner presently has an average rating of "Moderate Buy" and an average target price of $552.63.

Gartner 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.