Sei Investments Co. Reduces Holdings in Gartner, Inc. (NYSE:IT)

Sei Investments Co. cut its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 42.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,427 shares of the information technology services provider's stock after selling 53,921 shares during the quarter. Sei Investments Co. owned about 0.09% of Gartner worth $35,088,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Madison Investment Advisors LLC acquired a new stake in Gartner during the 4th quarter worth approximately $244,799,000. Raymond James Financial Inc. acquired a new stake in shares of Gartner during the fourth quarter worth $165,476,000. Fisher Funds Management LTD bought a new stake in shares of Gartner in the fourth quarter valued at about $97,518,000. Proficio Capital Partners LLC acquired a new position in shares of Gartner in the fourth quarter valued at about $95,762,000. Finally, Assenagon Asset Management S.A. increased its position in Gartner by 208.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 272,267 shares of the information technology services provider's stock worth $131,905,000 after acquiring an additional 183,974 shares during the period. Institutional investors own 91.51% of the company's stock.

Insiders Place Their Bets

In related news, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the sale, the director now owns 1,627 shares of the company's stock, valued at approximately $796,855.79. The trade was a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.60% of the company's stock.

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Analyst Ratings Changes

A number of research firms have issued reports on IT. Robert W. Baird cut their price objective on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Wells Fargo & Company cut their price target on Gartner from $470.00 to $460.00 and set an "underweight" rating for the company in a research note on Friday, January 10th. Barclays raised Gartner from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $525.00 to $600.00 in a report on Friday, January 10th. The Goldman Sachs Group reissued a "buy" rating on shares of Gartner in a report on Tuesday, February 4th. Finally, StockNews.com cut shares of Gartner from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $536.63.

Gartner Stock Performance

Shares of IT traded down $2.39 on Thursday, reaching $424.38. 138,026 shares of the company's stock traded hands, compared to its average volume of 399,253. The stock has a market cap of $32.60 billion, a PE ratio of 26.47, a PEG ratio of 3.30 and a beta of 1.29. 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 stock's 50 day simple moving average is $497.88 and its two-hundred day simple moving average is $506.61. Gartner, Inc. has a 52-week low of $409.50 and a 52-week high of $584.01.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, topping analysts' consensus estimates of $3.22 by $2.23. The company had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. Gartner's revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.04 EPS. On average, analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

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.