Thrivent Financial for Lutherans Decreases Position in Gartner, Inc. (NYSE:IT)

Thrivent Financial for Lutherans lowered its position in Gartner, Inc. (NYSE:IT) by 10.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,986 shares of the information technology services provider’s stock after selling 3,838 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Gartner were worth $16,493,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in IT. Kestra Investment Management LLC acquired a new stake in Gartner in the 4th quarter valued at about $29,000. True Wealth Design LLC lifted its holdings in shares of Gartner by 2,350.0% in the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after purchasing an additional 94 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Gartner in the fourth quarter valued at about $49,000. Promus Capital LLC acquired a new stake in shares of Gartner in the fourth quarter valued at approximately $57,000. Finally, Global Retirement Partners LLC increased its stake in shares of Gartner by 14.0% during the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock worth $134,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on IT. Wells Fargo & Company lowered their target price on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a report on Friday, January 10th. Robert W. Baird decreased their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research note on Friday. Morgan Stanley cut their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Finally, Barclays raised shares of 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 report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $546.63.

Insider Buying and Selling at Gartner

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

Gartner Trading Up 2.7 %

Shares of IT stock opened at $430.03 on Friday. Gartner, Inc. has a 1-year low of $409.50 and a 1-year high of $584.01. The firm’s 50-day simple moving average is $502.37 and its 200-day simple moving average is $507.66. The firm has a market cap of $33.03 billion, a P/E ratio of 26.83, a PEG ratio of 3.30 and a beta of 1.29. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. Gartner’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the business earned $3.04 EPS. As a group, equities analysts forecast that Gartner, Inc. will post 12.5 EPS for the current 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.