Alliance Wealth Advisors LLC UT Reduces Holdings in Gartner, Inc. (NYSE:IT)

Alliance Wealth Advisors LLC UT lowered its position in Gartner, Inc. (NYSE:IT) by 33.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,929 shares of the information technology services provider’s stock after selling 1,471 shares during the quarter. Alliance Wealth Advisors LLC UT’s holdings in Gartner were worth $1,419,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its stake in shares of Gartner by 208.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 272,267 shares of the information technology services provider’s stock valued at $131,905,000 after purchasing an additional 183,974 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Gartner during the 3rd quarter valued at $70,955,000. Principal Financial Group Inc. boosted its position in Gartner by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock valued at $1,014,099,000 after acquiring an additional 103,814 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Gartner in the 3rd quarter worth $36,789,000. Finally, JPMorgan Chase & Co. raised its position in shares of Gartner by 7.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock worth $525,272,000 after acquiring an additional 70,236 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

Shares of IT opened at $548.26 on Tuesday. The firm has a market capitalization of $42.29 billion, a price-to-earnings ratio of 40.43, a PEG ratio of 3.37 and a beta of 1.34. The firm’s fifty day simple moving average is $508.50 and its 200-day simple moving average is $504.99. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $559.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.56 earnings per share. Equities analysts forecast that Gartner, Inc. will post 11.87 EPS for the current fiscal year.

Insider Activity

In other Gartner news, Director James C. Smith sold 2,450 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $554.68, for a total transaction of $1,358,966.00. Following the completion of the transaction, the director now directly owns 529,844 shares in the company, valued at approximately $293,893,869.92. This trade represents a 0.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William James Wartinbee III sold 189 shares of the company’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 completion of the sale, the executive vice president now directly owns 7,311 shares in the company, valued at approximately $3,827,600.94. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,583 shares of company stock valued at $19,241,974. Company insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $525.00 to $600.00 in a research report on Friday, January 10th. Robert W. Baird raised their price target on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company cut their price objective on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $550.75.

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.