Townsquare Capital LLC Trims Holdings in Gartner, Inc. (NYSE:IT)

Townsquare Capital LLC reduced its stake in shares of Gartner, Inc. (NYSE:IT) by 2.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,705 shares of the information technology services provider’s stock after selling 986 shares during the quarter. Townsquare Capital LLC owned approximately 0.06% of Gartner worth $23,161,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Transcend Capital Advisors LLC bought a new position in Gartner in the 2nd quarter worth about $512,000. Tidal Investments LLC grew its stake in Gartner by 24.4% in the first quarter. Tidal Investments LLC now owns 9,890 shares of the information technology services provider’s stock worth $4,717,000 after purchasing an additional 1,940 shares in the last quarter. Swedbank AB purchased a new position in Gartner during the 1st quarter worth $30,735,000. Cetera Investment Advisers raised its position in 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 purchasing an additional 15,235 shares in the last quarter. Finally, Choreo LLC purchased a new stake in shares of Gartner in the 2nd quarter worth $722,000. 91.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IT has been the subject of several recent research reports. UBS Group lifted their price objective on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets upped their price target on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Bank of America lifted their price objective on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Robert W. Baird boosted their price target on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $539.25.

Insiders Place Their Bets

In other news, EVP Scott Hensel sold 5,580 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $490.00, for a total value of $2,734,200.00. Following the sale, the executive vice president now directly owns 19,724 shares of the company’s stock, valued at $9,664,760. This represents a 22.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James C. Smith sold 2,450 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $554.68, for a total transaction of $1,358,966.00. Following the transaction, the director now directly owns 529,844 shares of the company’s stock, valued at approximately $293,893,869.92. This trade represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,729 shares of company stock valued at $37,809,011. Insiders own 3.60% of the company’s stock.

Gartner Trading Up 0.8 %

Shares of NYSE:IT opened at $523.13 on Wednesday. The business’s 50-day moving average is $520.24 and its 200 day moving average is $482.02. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $559.00. The firm has a market capitalization of $40.35 billion, a P/E ratio of 38.58, a P/E/G ratio of 3.24 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 (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.05. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.56 earnings per share. On average, research analysts predict that Gartner, Inc. will post 11.89 earnings per share for the current fiscal year.

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.