Venturi Wealth Management LLC Trims Stock Position in Gartner, Inc. (NYSE:IT)

Venturi Wealth Management LLC lowered its position in Gartner, Inc. (NYSE:IT) by 1.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,493 shares of the information technology services provider’s stock after selling 37 shares during the period. Venturi Wealth Management LLC’s holdings in Gartner were worth $1,208,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in IT. Eastern Bank bought a new position in shares of Gartner during the third quarter valued at $26,000. Ashton Thomas Securities LLC purchased a new position in shares of Gartner in the 3rd quarter worth $44,000. True Wealth Design LLC boosted its position in 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 worth $50,000 after purchasing an additional 94 shares during the last quarter. Fortitude Family Office LLC boosted its holdings in shares of Gartner by 23.8% in the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after buying an additional 20 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of Gartner during the 3rd quarter valued at $77,000. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

IT has been the topic of a number of analyst reports. Morgan Stanley lowered their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company cut their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Robert W. Baird raised their target price on shares of Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Finally, Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $525.00 to $600.00 in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $552.63.

Insider Activity

In related news, EVP Claire Herkes sold 411 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total transaction of $214,229.64. Following the transaction, the executive vice president now owns 1,494 shares of the company’s stock, valued at $778,732.56. This represents a 21.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James C. Smith sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $524.02, for a total transaction of $2,620,100.00. Following the sale, the director now owns 509,457 shares in the company, valued at $266,965,657.14. The trade was a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,690 shares of company stock worth $2,981,025. 3.60% of the stock is currently owned by company insiders.

Gartner Stock Performance

IT opened at $513.20 on Wednesday. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $584.01. The firm’s fifty day simple moving average is $510.10 and its two-hundred day simple moving average is $508.59. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. The company has a market cap of $39.59 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 3.50 and a beta of 1.34.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 136.32%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the prior year, the firm posted $3.04 earnings per share. Gartner’s quarterly revenue was up 8.1% on a year-over-year basis. Equities analysts anticipate that Gartner, Inc. will post 12.5 earnings per share 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.