Pitcairn Co. Lowers Position in Gartner, Inc. (NYSE:IT)

Pitcairn Co. trimmed its holdings in shares of Gartner, Inc. (NYSE:IT) by 4.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,871 shares of the information technology services provider’s stock after selling 90 shares during the quarter. Pitcairn Co.’s holdings in Gartner were worth $892,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in IT. BSW Wealth Partners raised its stake in Gartner by 3.7% in the 4th quarter. BSW Wealth Partners now owns 617 shares of the information technology services provider’s stock valued at $278,000 after purchasing an additional 22 shares during the last quarter. Allworth Financial LP raised its stake in Gartner by 2.8% in the 4th quarter. Allworth Financial LP now owns 807 shares of the information technology services provider’s stock valued at $364,000 after purchasing an additional 22 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its stake in Gartner by 0.5% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 4,900 shares of the information technology services provider’s stock valued at $2,210,000 after purchasing an additional 22 shares during the last quarter. TIAA Trust National Association raised its stake in Gartner by 3.2% in the 1st quarter. TIAA Trust National Association now owns 744 shares of the information technology services provider’s stock valued at $355,000 after purchasing an additional 23 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its stake in Gartner by 59.5% in the 4th quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 25 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Gartner Stock Performance

Shares of IT stock traded up $4.57 during midday trading on Thursday, hitting $461.99. The company had a trading volume of 396,082 shares, compared to its average volume of 401,466. The company’s 50 day simple moving average is $445.20 and its 200 day simple moving average is $453.38. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $35.86 billion, a price-to-earnings ratio of 45.94, a PEG ratio of 4.06 and a beta of 1.33. Gartner, Inc. has a 52-week low of $323.61 and a 52-week high of $486.54.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.40. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the previous year, the firm posted $2.88 earnings per share. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Research analysts anticipate that Gartner, Inc. will post 11.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

IT has been the subject of several recent research reports. UBS Group reduced their price objective on Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Robert W. Baird lowered their price target on Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft began coverage on Gartner in a report on Tuesday, April 16th. They set a “hold” rating and a $507.00 price target for the company. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Morgan Stanley raised their target price on Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $478.50.

Insider Transactions at Gartner

In other news, Director James C. Smith sold 10,000 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $439.29, for a total value of $4,392,900.00. Following the completion of the transaction, the director now directly owns 599,074 shares of the company’s stock, valued at $263,167,217.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Gartner news, EVP Alwyn Dawkins sold 800 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $454.57, for a total transaction of $363,656.00. Following the sale, the executive vice president now owns 50,783 shares in the company, valued at $23,084,428.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James C. Smith sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $439.29, for a total value of $4,392,900.00. Following the sale, the director now owns 599,074 shares in the company, valued at approximately $263,167,217.46. The disclosure for this sale can be found here. Insiders sold a total of 22,544 shares of company stock valued at $10,079,813 over the last three months. 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.