Victory Capital Management Inc. Reduces Holdings in Gartner, Inc. (NYSE:IT)

Victory Capital Management Inc. lowered its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 21.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,160 shares of the information technology services provider's stock after selling 12,980 shares during the period. Victory Capital Management Inc. owned approximately 0.06% of Gartner worth $23,392,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Sustainable Growth Advisers LP purchased a new position in shares of Gartner in the 2nd quarter valued at about $266,541,000. Principal Financial Group Inc. grew its holdings in shares of Gartner by 22.0% during the second quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider's stock worth $852,014,000 after purchasing an additional 341,911 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Gartner by 38.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 414,559 shares of the information technology services provider's stock worth $197,608,000 after purchasing an additional 114,610 shares in the last quarter. Natixis Advisors LLC increased its position in Gartner by 117.4% during the second quarter. Natixis Advisors LLC now owns 200,097 shares of the information technology services provider's stock worth $89,856,000 after buying an additional 108,061 shares during the period. Finally, Swedbank AB acquired a new position in shares of Gartner in the 1st quarter valued at $30,735,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Trading Down 0.6 %

Shares of IT traded down $3.00 during mid-day trading on Tuesday, hitting $517.73. The company had a trading volume of 377,285 shares, compared to its average volume of 369,883. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $559.00. The business's 50-day simple moving average is $518.32 and its 200-day simple moving average is $478.34. The stock has a market cap of $39.93 billion, a PE ratio of 38.40, a P/E/G ratio of 3.27 and a beta of 1.32. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating analysts' consensus estimates of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. Gartner's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the business earned $2.56 EPS. Sell-side analysts forecast that Gartner, Inc. will post 11.89 earnings per share for the current year.

Insider Activity at Gartner

In other news, EVP Yvonne Genovese sold 443 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $483.62, for a total value of $214,243.66. Following the completion of the sale, the executive vice president now owns 1,959 shares of the company's stock, valued at $947,411.58. This represents a 18.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Akhil Jain sold 500 shares of Gartner stock in a transaction on Monday, September 9th. The shares were sold at an average price of $492.00, for a total transaction of $246,000.00. Following the transaction, the executive vice president now owns 4,339 shares in the company, valued at $2,134,788. The trade was a 10.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,172 shares of company stock worth $38,023,255. 3.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Gartner from $529.00 to $531.00 and gave the company a "hold" rating in a research report on Wednesday, November 6th. StockNews.com raised shares of Gartner from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. Morgan Stanley raised their target price on shares of Gartner from $490.00 to $528.00 and gave the company an "equal weight" rating in a report on Thursday, October 10th. Barclays upped their price target on shares of Gartner from $470.00 to $525.00 and gave the company an "equal weight" rating in a report on Wednesday, November 6th. Finally, BMO Capital Markets raised their price objective on shares of Gartner from $450.00 to $510.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $539.25.

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.