Procyon Advisors LLC Has $1.10 Million Stock Position in Gartner, Inc. (NYSE:IT)

Procyon Advisors LLC cut its holdings in shares of Gartner, Inc. (NYSE:IT) by 6.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,430 shares of the information technology services provider’s stock after selling 163 shares during the quarter. Procyon Advisors LLC’s holdings in Gartner were worth $1,096,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. US Bancorp DE raised its position in shares of Gartner by 6.0% in the 1st quarter. US Bancorp DE now owns 2,563 shares of the information technology services provider’s stock valued at $762,000 after acquiring an additional 144 shares during the period. Aviva PLC grew its stake in shares of Gartner by 53.3% during the 1st quarter. Aviva PLC now owns 42,028 shares of the information technology services provider’s stock worth $12,502,000 after acquiring an additional 14,618 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Gartner by 9.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 27,043 shares of the information technology services provider’s stock worth $8,044,000 after acquiring an additional 2,347 shares in the last quarter. Allianz Asset Management GmbH grew its stake in shares of Gartner by 25.2% in the first quarter. Allianz Asset Management GmbH now owns 98,889 shares of the information technology services provider’s stock valued at $29,415,000 after buying an additional 19,892 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Gartner by 1.1% in the first quarter. Vanguard Group Inc. now owns 9,198,161 shares of the information technology services provider’s stock valued at $2,736,085,000 after buying an additional 102,709 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Gartner news, EVP Valentin Sribar sold 682 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $453.00, for a total transaction of $308,946.00. Following the transaction, the executive vice president now directly owns 12,269 shares of the company’s stock, valued at approximately $5,557,857. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Valentin Sribar sold 682 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $453.00, for a total value of $308,946.00. Following the sale, the executive vice president now directly owns 12,269 shares of the company’s stock, valued at approximately $5,557,857. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James C. Smith sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $455.00, for a total transaction of $2,275,000.00. Following the completion of the sale, the director now directly owns 638,235 shares in the company, valued at $290,396,925. The disclosure for this sale can be found here. Insiders have sold a total of 22,952 shares of company stock valued at $10,598,070 over the last three months. 3.90% of the stock is owned by company insiders.

Gartner Stock Performance

Shares of IT traded up $0.94 during trading hours on Thursday, hitting $481.78. The company’s stock had a trading volume of 28,113 shares, compared to its average volume of 395,517. The company has a market cap of $37.56 billion, a price-to-earnings ratio of 43.50, a PEG ratio of 4.34 and a beta of 1.29. The company has a debt-to-equity ratio of 3.60, a current ratio of 0.91 and a quick ratio of 0.91. The business has a 50 day simple moving average of $464.22 and a two-hundred day simple moving average of $421.49. Gartner, Inc. has a 52-week low of $292.60 and a 52-week high of $486.54.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.21. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. Gartner had a net margin of 14.94% and a return on equity of 156.35%. Gartner’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.70 earnings per share. On average, equities analysts expect that Gartner, Inc. will post 11.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on IT shares. Morgan Stanley lifted their target price on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Wells Fargo & Company increased their target price on shares of Gartner from $380.00 to $435.00 and gave the stock an “overweight” rating in a research note on Friday, December 15th. UBS Group increased their target price on shares of Gartner from $412.00 to $490.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 6th. Finally, BMO Capital Markets raised their price objective on shares of Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a research note on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Gartner currently has a consensus rating of “Hold” and a consensus target price of $455.25.

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.