Los Angeles Capital Management LLC Decreases Stake in Gartner, Inc. (NYSE:IT)

Los Angeles Capital Management LLC cut its holdings in shares of Gartner, Inc. (NYSE:IT) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,608 shares of the information technology services provider’s stock after selling 249 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Gartner were worth $9,499,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. State Street Corp boosted its holdings in shares of Gartner by 1.1% during the 3rd quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock worth $1,650,697,000 after purchasing an additional 36,258 shares during the last quarter. Geode Capital Management LLC boosted its stake in Gartner by 1.9% during 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 buying an additional 36,698 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Gartner by 0.6% in the 4th 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 buying an additional 11,657 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in 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 valued at $525,272,000 after buying an additional 70,236 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Gartner by 3.3% in the 3rd quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider’s stock worth $422,678,000 after acquiring an additional 25,315 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other Gartner news, EVP William James Wartinbee III sold 189 shares of the stock in a transaction dated Friday, December 6th. The stock was 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 $3,827,600.94. This trade represents a 2.52 % decrease in their position. 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 the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the transaction, the director now directly owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. This represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,479 shares of company stock valued at $734,419 in the last ninety days. Company insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

IT has been the topic of several recent research reports. Wells Fargo & Company lowered their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Morgan Stanley cut their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. Finally, Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Gartner currently has an average rating of “Hold” and a consensus price target of $552.63.

Gartner Trading Down 1.0 %

Shares of NYSE IT opened at $498.05 on Thursday. The stock has a fifty day simple moving average of $509.78 and a 200-day simple moving average of $509.80. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $584.01. 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 stock has a market capitalization of $38.26 billion, a PE ratio of 31.07, a PEG ratio of 3.30 and a beta of 1.34.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping 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%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.04 earnings per share. On average, equities analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current 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.