Diversify Wealth Management LLC Sells 337 Shares of Gartner, Inc. (NYSE:IT)

Diversify Wealth Management LLC trimmed its position in Gartner, Inc. (NYSE:IT) by 19.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,356 shares of the information technology services provider’s stock after selling 337 shares during the quarter. Diversify Wealth Management LLC’s holdings in Gartner were worth $663,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV boosted its stake in shares of Gartner by 7.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 4,407 shares of the information technology services provider’s stock valued at $2,187,000 after purchasing an additional 293 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Gartner by 105.4% during the second quarter. Canada Pension Plan Investment Board now owns 17,406 shares of the information technology services provider’s stock worth $7,816,000 after buying an additional 8,931 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Gartner by 7.4% during the second quarter. Pacer Advisors Inc. now owns 8,013 shares of the information technology services provider’s stock worth $3,598,000 after buying an additional 553 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Gartner by 960.3% during the second quarter. Thrivent Financial for Lutherans now owns 34,949 shares of the information technology services provider’s stock worth $15,694,000 after buying an additional 31,653 shares in the last quarter. Finally, Profund Advisors LLC lifted its stake in shares of Gartner by 6.1% in the 2nd quarter. Profund Advisors LLC now owns 1,647 shares of the information technology services provider’s stock valued at $740,000 after acquiring an additional 95 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on IT shares. Morgan Stanley lowered their target price on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft upped their price objective on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $525.00 to $600.00 in a report on Friday, January 10th. Wells Fargo & Company dropped their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Finally, StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. One equities 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $550.75.

Gartner Stock Performance

Shares of IT opened at $524.78 on Wednesday. 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 firm’s fifty day simple moving average is $506.32 and its two-hundred day simple moving average is $499.74. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $559.00. The stock has a market capitalization of $40.48 billion, a P/E ratio of 38.70, a price-to-earnings-growth ratio of 2.87 and a beta of 1.33.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.45 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The firm’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 earned $2.56 EPS. As a group, analysts predict that Gartner, Inc. will post 11.87 EPS for the current year.

Insider Transactions at Gartner

In other Gartner news, Director James C. Smith sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $535.76, for a total value of $5,357,600.00. Following the transaction, the director now owns 554,274 shares in the company, valued at approximately $296,957,838.24. This represents a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William James Wartinbee III sold 189 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $523.54, for a total value of $98,949.06. Following the sale, the executive vice president now owns 7,311 shares of the company’s stock, valued at approximately $3,827,600.94. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,583 shares of company stock valued at $19,241,974 in the last quarter. 3.60% of the stock is currently owned by company 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.