Gartner, Inc. (NYSE:IT) Shares Sold by Tortoise Investment Management LLC

Tortoise Investment Management LLC trimmed its position in shares of Gartner, Inc. (NYSE:IT) by 38.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 157 shares of the information technology services provider’s stock after selling 97 shares during the period. Tortoise Investment Management LLC’s holdings in Gartner were worth $76,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Kestra Investment Management LLC acquired a new position in Gartner during the fourth quarter worth $29,000. Ashton Thomas Securities LLC acquired a new position in Gartner during the third quarter worth $44,000. True Wealth Design LLC lifted its stake in Gartner by 2,350.0% during the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after purchasing an additional 94 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Gartner during the fourth quarter worth $49,000. Finally, Promus Capital LLC acquired a new stake in shares of Gartner in the fourth quarter valued at $57,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Stock Performance

NYSE:IT opened at $471.46 on Tuesday. The business’s fifty day moving average price is $509.85 and its 200 day moving average price is $510.35. The firm has a market capitalization of $36.22 billion, a PE ratio of 29.41, a price-to-earnings-growth 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. 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 issued its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 116.56% and a net margin of 20.00%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.04 earnings per share. On average, sell-side analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the transaction, the senior vice president now owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Eileen Serra sold 1,200 shares of the firm’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 in the company, valued at approximately $796,855.79. This represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IT. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and increased 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 company an “outperform” rating in a research note on Wednesday, February 5th. Wells Fargo & Company reduced their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. One equities 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.