Glenmede Trust Co. NA Decreases Position in Gartner, Inc. (NYSE:IT)

Glenmede Trust Co. NA decreased its position in Gartner, Inc. (NYSE:IT) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,060 shares of the information technology services provider’s stock after selling 4,884 shares during the quarter. Glenmede Trust Co. NA owned 0.18% of Gartner worth $70,977,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Transcend Capital Advisors LLC purchased a new stake in shares of Gartner during the second quarter worth about $512,000. Tidal Investments LLC raised its position in shares of Gartner by 24.4% in the 1st quarter. Tidal Investments LLC now owns 9,890 shares of the information technology services provider’s stock valued at $4,717,000 after purchasing an additional 1,940 shares in the last quarter. Swedbank AB purchased a new position in shares of Gartner during the 1st quarter valued at approximately $30,735,000. Cetera Investment Advisers boosted its stake in shares of Gartner by 245.0% during the 1st quarter. Cetera Investment Advisers now owns 21,453 shares of the information technology services provider’s stock valued at $10,226,000 after buying an additional 15,235 shares during the last quarter. Finally, Choreo LLC acquired a new stake in shares of Gartner during the second quarter worth approximately $722,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Stock Up 0.8 %

Shares of Gartner stock opened at $523.13 on Wednesday. The stock has a market capitalization of $40.35 billion, a price-to-earnings ratio of 38.58, a PEG ratio of 3.24 and a beta of 1.32. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $559.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The business’s 50 day simple moving average is $520.24 and its 200-day simple moving average is $482.02.

Gartner (NYSE:IT) last issued its earnings results 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. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company earned $2.56 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts forecast that Gartner, Inc. will post 11.89 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on IT. Deutsche Bank Aktiengesellschaft upped their price target on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Barclays increased their price target on shares of Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. UBS Group lifted their target price on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Bank of America upped their price target on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Gartner currently has an average rating of “Hold” and an average price target of $539.25.

Insider Activity at Gartner

In related news, EVP Claire Herkes sold 478 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $506.01, for a total value of $241,872.78. Following the sale, the executive vice president now directly owns 1,905 shares in the company, valued at $963,949.05. This trade represents a 20.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eugene A. Hall sold 34,060 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total value of $17,213,924.00. Following the transaction, the chief executive officer now owns 1,143,401 shares of the company’s stock, valued at $577,874,865.40. This trade represents a 2.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,729 shares of company stock worth $37,809,011 in the last ninety days. 3.60% of the stock is owned by insiders.

About Gartner

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.