Gartner, Inc. (NYSE:IT) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lowered its stake in shares of Gartner, Inc. (NYSE:IT) by 13.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,388 shares of the information technology services provider’s stock after selling 6,322 shares during the period. Prudential Financial Inc. owned 0.05% of Gartner worth $19,567,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in IT. Howard Capital Management Inc. grew its stake in Gartner by 4.4% in the 4th quarter. Howard Capital Management Inc. now owns 452 shares of the information technology services provider’s stock worth $219,000 after acquiring an additional 19 shares during the period. Gilbert & Cook Inc. grew its holdings in Gartner by 1.5% in the 4th quarter. Gilbert & Cook Inc. now owns 1,364 shares of the information technology services provider’s stock valued at $661,000 after buying an additional 20 shares during the period. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Gartner by 2.5% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 826 shares of the information technology services provider’s stock worth $400,000 after acquiring an additional 20 shares during the period. Parallel Advisors LLC grew its holdings in Gartner by 2.9% in the fourth quarter. Parallel Advisors LLC now owns 737 shares of the information technology services provider’s stock valued at $357,000 after purchasing an additional 21 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of Gartner by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 917 shares of the information technology services provider’s stock valued at $444,000 after purchasing an additional 22 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Activity at Gartner

In other Gartner news, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction 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 completion of the sale, the senior vice president now owns 3,259 shares in the company, valued at $1,728,932.09. The trade was a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the transaction, the director now directly owns 1,627 shares of the company’s stock, 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 corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on IT shares. Morgan Stanley reduced their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. Wells Fargo & Company reduced their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research report on Friday, January 10th. Finally, UBS Group lowered their price objective on shares of Gartner from $565.00 to $500.00 and set a “buy” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $536.63.

Gartner Stock Performance

Shares of IT opened at $426.43 on Thursday. The firm has a market cap of $32.76 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 3.30 and a beta of 1.29. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The business’s 50 day moving average is $497.88 and its two-hundred day moving average is $506.61. Gartner, Inc. has a 52-week low of $409.50 and a 52-week high of $584.01.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $2.23. The firm had revenue of $1.72 billion for 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 firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.04 earnings per share. Analysts forecast that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

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.