Rhumbline Advisers Reduces Stock Position in Gartner, Inc. (NYSE:IT)

Rhumbline Advisers lessened its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 1.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 151,365 shares of the information technology services provider's stock after selling 2,064 shares during the period. Rhumbline Advisers owned about 0.20% of Gartner worth $73,332,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Creative Planning raised its position in Gartner by 13.9% in the third quarter. Creative Planning now owns 10,735 shares of the information technology services provider's stock worth $5,440,000 after acquiring an additional 1,307 shares during the period. Bleakley Financial Group LLC raised its holdings in Gartner by 6.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 3,550 shares of the information technology services provider's stock worth $1,799,000 after purchasing an additional 203 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Gartner by 5.6% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,426 shares of the information technology services provider's stock worth $4,270,000 after purchasing an additional 445 shares during the period. Aaron Wealth Advisors LLC purchased a new position in Gartner during the third quarter valued at $292,000. Finally, Trust Point Inc. grew its holdings in Gartner by 3.2% during the third quarter. Trust Point Inc. now owns 746 shares of the information technology services provider's stock valued at $378,000 after purchasing an additional 23 shares during the period. Hedge funds and other institutional investors own 91.51% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on IT shares. StockNews.com raised Gartner from a "hold" rating to a "buy" rating in a research note on Wednesday, February 12th. Wells Fargo & Company decreased their target price on shares of Gartner from $470.00 to $460.00 and set an "underweight" rating on the stock in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Gartner from $529.00 to $531.00 and gave the stock a "hold" rating in a research report on Wednesday, November 6th. Morgan Stanley decreased their price objective on shares of Gartner from $564.00 to $555.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 16th. Finally, Robert W. Baird upped their target price on shares of Gartner from $579.00 to $605.00 and gave the stock an "outperform" rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Gartner currently has an average rating of "Hold" and an average target price of $552.63.

Gartner Price Performance

IT traded down $12.98 during trading on Thursday, hitting $503.03. 441,947 shares of the company traded hands, compared to its average volume of 478,047. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The company has a market cap of $38.80 billion, a PE ratio of 31.38, a P/E/G ratio of 3.36 and a beta of 1.34. The stock's 50-day simple moving average is $510.07 and its two-hundred day simple moving average is $508.88. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $584.01.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating analysts' consensus estimates of $3.22 by $2.23. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the business posted $3.04 earnings per share. The business's quarterly revenue was up 8.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP John J. Rinello sold 90 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of the transaction, the senior vice president now owns 3,259 shares of the company's stock, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James C. Smith sold 5,000 shares of Gartner stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $524.02, for a total value of $2,620,100.00. Following the completion of the transaction, the director now owns 509,457 shares of the company's stock, valued at approximately $266,965,657.14. This represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,690 shares of company stock valued at $2,981,025 in the last quarter. 3.60% of the stock is currently owned by insiders.

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.