PNC Financial Services Group Inc. Sells 3,089 Shares of Gartner, Inc. (NYSE:IT)

PNC Financial Services Group Inc. cut its position in Gartner, Inc. (NYSE:IT) by 7.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,118 shares of the information technology services provider’s stock after selling 3,089 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Gartner were worth $17,498,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its stake in Gartner by 1.1% in the 3rd quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock valued at $1,650,697,000 after acquiring an additional 36,258 shares during the period. Geode Capital Management LLC increased its stake in shares of Gartner by 1.9% in the third quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider’s stock worth $1,020,378,000 after purchasing an additional 36,698 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Gartner by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider’s stock valued at $975,141,000 after purchasing an additional 11,657 shares during the period. JPMorgan Chase & Co. raised its position in shares of Gartner by 7.3% in the third quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock valued at $525,272,000 after purchasing an additional 70,236 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Gartner by 3.3% during the 3rd quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider’s stock valued at $422,678,000 after buying an additional 25,315 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Stock Down 2.2 %

Shares of NYSE IT opened at $471.46 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The business has a 50-day moving average of $509.85 and a 200-day moving average of $510.35. The firm has a market capitalization of $36.22 billion, a price-to-earnings ratio of 29.41, a PEG ratio of 3.30 and a beta of 1.29. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $584.01.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $2.23. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.04 EPS. Sell-side analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Activity at Gartner

In other Gartner news, SVP John J. Rinello sold 90 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the transaction, the director now directly owns 1,627 shares in the company, valued at $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

IT has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective 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. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $525.00 to $600.00 in a research note on Friday, January 10th. Robert W. Baird increased their price objective on Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, March 5th. Finally, Morgan Stanley lowered their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Gartner currently has a consensus rating of “Moderate Buy” and a consensus target price of $552.63.

Gartner 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.