Gartner, Inc. (NYSE:IT) Shares Sold by Citigroup Inc.

Citigroup Inc. cut its holdings in Gartner, Inc. (NYSE:IT) by 36.6% during the third quarter, Holdings Channel reports. The institutional investor owned 58,033 shares of the information technology services provider’s stock after selling 33,452 shares during the period. Citigroup Inc.’s holdings in Gartner were worth $29,409,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Eastern Bank purchased a new stake in Gartner during the third quarter worth approximately $26,000. Crewe Advisors LLC raised its holdings in Gartner by 223.3% during the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after purchasing an additional 67 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Gartner during the 3rd quarter worth approximately $44,000. Fortitude Family Office LLC grew its position in shares of Gartner by 23.8% in the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after buying an additional 20 shares during the last quarter. Finally, Asset Dedication LLC raised its stake in Gartner by 46.5% during the 3rd quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock worth $75,000 after acquiring an additional 47 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IT has been the subject of several research analyst reports. Wells Fargo & Company upped their price objective on shares of Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. Barclays upped their target price on Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lifted their price target on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Bank of America lifted their target price on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $539.25.

Gartner Stock Down 0.2 %

Shares of Gartner stock opened at $518.76 on Tuesday. Gartner, Inc. has a one year low of $411.15 and a one year high of $559.00. The company has a market cap of $40.01 billion, a P/E ratio of 38.26, a PEG ratio of 3.25 and a beta of 1.32. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a fifty day moving average of $520.07 and a two-hundred day moving average of $481.44.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the company posted $2.56 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts forecast that Gartner, Inc. will post 11.89 earnings per share for the current year.

Insider Activity

In other news, EVP Akhil Jain sold 500 shares of Gartner stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $492.00, for a total transaction of $246,000.00. Following the completion of the sale, the executive vice president now directly owns 4,339 shares in the company, valued at approximately $2,134,788. This trade represents a 10.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Hensel sold 5,580 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $490.00, for a total value of $2,734,200.00. Following the sale, the executive vice president now directly owns 19,724 shares in the company, valued at $9,664,760. This trade represents a 22.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,729 shares of company stock valued at $37,809,011 in the last three months. 3.60% of the stock is currently owned by company insiders.

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.