Gartner, Inc. (NYSE:IT) Shares Sold by Burns Matteson Capital Management LLC

Burns Matteson Capital Management LLC reduced its stake in Gartner, Inc. (NYSE:IT) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 841 shares of the information technology services provider’s stock after selling 21 shares during the period. Burns Matteson Capital Management LLC’s holdings in Gartner were worth $426,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Gartner by 500.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 600 shares of the information technology services provider’s stock valued at $304,000 after acquiring an additional 500 shares during the period. Contravisory Investment Management Inc. boosted its stake in Gartner by 5.3% in the third quarter. Contravisory Investment Management Inc. now owns 1,960 shares of the information technology services provider’s stock valued at $993,000 after acquiring an additional 99 shares during the period. Northstar Group Inc. acquired a new position in Gartner in the third quarter valued at approximately $222,000. Perpetual Ltd boosted its position in shares of Gartner by 7.5% during the third quarter. Perpetual Ltd now owns 1,885 shares of the information technology services provider’s stock worth $955,000 after buying an additional 132 shares during the period. Finally, Wedmont Private Capital boosted its position in shares of Gartner by 7.9% during the third quarter. Wedmont Private Capital now owns 1,878 shares of the information technology services provider’s stock worth $957,000 after buying an additional 138 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Price Performance

Shares of NYSE IT traded up $2.50 during trading on Friday, hitting $521.22. The company had a trading volume of 261,222 shares, compared to its average volume of 377,130. The company has a market cap of $40.46 billion, a P/E ratio of 51.86, a PEG ratio of 3.23 and a beta of 1.32. Gartner, Inc. has a 52 week low of $323.61 and a 52 week high of $524.77. The business’s 50-day moving average is $495.34 and its 200 day moving average is $466.30. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.20. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the company posted $2.85 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that Gartner, Inc. will post 11.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Gartner news, EVP Alwyn Dawkins sold 1,000 shares of Gartner stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total transaction of $505,490.00. Following the transaction, the executive vice president now directly owns 56,650 shares in the company, valued at approximately $28,636,008.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Alwyn Dawkins sold 1,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $505.49, for a total transaction of $505,490.00. Following the transaction, the executive vice president now directly owns 56,650 shares in the company, valued at $28,636,008.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Eugene A. Hall sold 12,082 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $504.84, for a total transaction of $6,099,476.88. Following the transaction, the chief executive officer now owns 1,143,389 shares in the company, valued at approximately $577,228,502.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,164 shares of company stock worth $32,601,014. Corporate insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

IT has been the subject of several analyst reports. Robert W. Baird boosted their price objective on Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Bank of America boosted their price objective on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Morgan Stanley boosted their price objective on Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Wells Fargo & Company upgraded Gartner to a “strong sell” rating in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Gartner currently has an average rating of “Hold” and an average price target of $529.29.

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.