Independent Advisor Alliance Cuts Stake in Gartner, Inc. (NYSE:IT)

Independent Advisor Alliance lowered its holdings in shares of Gartner, Inc. (NYSE:IT) by 14.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 852 shares of the information technology services provider’s stock after selling 146 shares during the period. Independent Advisor Alliance’s holdings in Gartner were worth $432,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Sustainable Growth Advisers LP bought a new stake in Gartner in the second quarter valued at approximately $266,541,000. Principal Financial Group Inc. increased its stake in shares of Gartner by 22.0% in the second quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock worth $852,014,000 after buying an additional 341,911 shares during the period. Natixis Advisors LLC raised its holdings in Gartner by 117.4% during the 2nd quarter. Natixis Advisors LLC now owns 200,097 shares of the information technology services provider’s stock valued at $89,856,000 after buying an additional 108,061 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Gartner during the 3rd quarter valued at $36,789,000. Finally, Swedbank AB bought a new stake in Gartner in the 1st quarter worth $30,735,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

IT opened at $519.23 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The company has a market cap of $40.05 billion, a price-to-earnings ratio of 38.29, a price-to-earnings-growth ratio of 3.24 and a beta of 1.32. The stock has a fifty day simple moving average of $520.81 and a two-hundred day simple moving average of $482.87. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $559.00.

Gartner (NYSE:IT) last issued 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 company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the business earned $2.56 EPS. Gartner’s quarterly revenue was up 5.4% compared to the same quarter last year. Research analysts predict that Gartner, Inc. will post 11.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. 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. Morgan Stanley upped their price target on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lifted their price objective 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 Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Robert W. Baird lifted their price target on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $539.25.

Insider Activity

In other news, EVP Akhil Jain sold 500 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $492.00, for a total transaction of $246,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,339 shares in the company, valued at $2,134,788. This trade represents a 10.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James C. Smith sold 2,450 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $554.68, for a total transaction of $1,358,966.00. Following the completion of the transaction, the director now owns 529,844 shares in the company, valued at approximately $293,893,869.92. The trade was a 0.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,149 shares of company stock worth $37,694,911. Insiders own 3.60% of the company’s stock.

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.