Planning Capital Management Corp Has $27,000 Stock Position in Gartner, Inc. (NYSE:IT)

Planning Capital Management Corp cut its position in Gartner, Inc. (NYSE:IT) by 71.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 53 shares of the information technology services provider’s stock after selling 135 shares during the quarter. Planning Capital Management Corp’s holdings in Gartner were worth $27,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of IT. Eastern Bank acquired a new stake in Gartner in the 3rd quarter worth $26,000. Crewe Advisors LLC grew its position in Gartner by 223.3% in the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after purchasing an additional 67 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Gartner in the 3rd quarter worth $44,000. Fortitude Family Office LLC grew its position in Gartner by 23.8% in the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after purchasing an additional 20 shares during the last quarter. Finally, Asset Dedication LLC grew its position in Gartner by 46.5% in the 3rd quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock worth $75,000 after purchasing an additional 47 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Gartner

In other news, Director James C. Smith sold 2,450 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $554.68, for a total transaction of $1,358,966.00. Following the completion of the sale, the director now owns 529,844 shares of the company’s stock, valued at $293,893,869.92. This trade represents a 0.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Eugene A. Hall sold 34,060 shares of Gartner stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the completion of the sale, the chief executive officer now directly owns 1,143,401 shares of the company’s stock, valued at approximately $577,874,865.40. The trade was a 2.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,172 shares of company stock worth $38,023,255 in the last quarter. 3.60% of the stock is owned by insiders.

Gartner Trading Down 2.7 %

IT stock opened at $537.10 on Friday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. The company’s 50-day simple moving average is $517.54 and its 200 day simple moving average is $476.98. Gartner, Inc. has a 52 week low of $411.15 and a 52 week high of $559.00. The company has a market capitalization of $41.39 billion, a PE ratio of 39.61, a price-to-earnings-growth ratio of 3.45 and a beta of 1.32.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.05. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. Gartner’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.56 earnings per share. As a group, sell-side analysts anticipate that Gartner, Inc. will post 11.89 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on IT shares. 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 report on Wednesday, July 31st. Robert W. Baird raised their price objective on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. UBS Group raised their price objective on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Morgan Stanley raised their price objective on shares of Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company lifted their price target on shares of Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus 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.