Sustainable Growth Advisers LP Sells 171,117 Shares of Gartner, Inc. (NYSE:IT)

Sustainable Growth Advisers LP decreased its position in shares of Gartner, Inc. (NYSE:IT - Free Report) by 24.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 535,427 shares of the information technology services provider's stock after selling 171,117 shares during the quarter. Sustainable Growth Advisers LP owned approximately 0.69% of Gartner worth $259,398,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Madison Investment Advisors LLC purchased a new stake in shares of Gartner during the fourth quarter worth $244,799,000. Raymond James Financial Inc. bought a new position in Gartner in the 4th quarter worth about $165,476,000. Fisher Funds Management LTD purchased a new position in Gartner during the 4th quarter valued at about $97,518,000. Proficio Capital Partners LLC bought a new stake in shares of Gartner during the fourth quarter valued at about $95,762,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Gartner by 208.4% in 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 buying an additional 183,974 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Insider Activity

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

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Gartner Price Performance

IT traded down $14.95 during midday trading on Tuesday, hitting $446.75. The stock had a trading volume of 1,519,793 shares, compared to its average volume of 378,491. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $584.01. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The business has a fifty day moving average of $506.91 and a 200 day moving average of $509.47. The company has a market cap of $34.32 billion, a P/E ratio of 27.87, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29.

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

Analysts Set New Price Targets

IT has been the topic of a number of analyst reports. 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 report on Friday, January 10th. Morgan Stanley lowered their price objective on Gartner from $564.00 to $555.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 16th. Barclays upgraded Gartner from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. StockNews.com upgraded Gartner from a "hold" rating to a "buy" rating in a research report on Wednesday, March 5th. Finally, Robert W. Baird boosted their price objective on 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 issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Gartner presently has an average rating of "Moderate Buy" and an average target price of $552.63.

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.