Gartner, Inc. (NYSE:IT) Stock Position Lessened by Perigon Wealth Management LLC

Perigon Wealth Management LLC decreased its holdings in Gartner, Inc. (NYSE:IT) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,094 shares of the information technology services provider’s stock after selling 80 shares during the quarter. Perigon Wealth Management LLC’s holdings in Gartner were worth $1,584,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of IT. Public Sector Pension Investment Board grew its stake in shares of Gartner by 66.0% in the second quarter. Public Sector Pension Investment Board now owns 2,930 shares of the information technology services provider’s stock worth $1,316,000 after purchasing an additional 1,165 shares in the last quarter. Cetera Investment Advisers boosted its stake in Gartner by 1.1% during the second quarter. Cetera Investment Advisers now owns 21,679 shares of the information technology services provider’s stock valued at $9,735,000 after buying an additional 226 shares in the last quarter. New Century Financial Group LLC bought a new position in Gartner during the second quarter valued at about $260,000. Sanctuary Advisors LLC bought a new position in Gartner during the second quarter valued at about $3,344,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Gartner by 1.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 2,558 shares of the information technology services provider’s stock valued at $1,296,000 after buying an additional 37 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other news, Director James C. Smith sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $535.76, for a total transaction of $5,357,600.00. Following the completion of the sale, the director now directly owns 554,274 shares of the company’s stock, valued at $296,957,838.24. This trade represents a 1.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William James Wartinbee III sold 189 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $523.54, for a total value of $98,949.06. Following the sale, the executive vice president now directly owns 7,311 shares of the company’s stock, valued at $3,827,600.94. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,583 shares of company stock valued at $19,241,974. Corporate insiders own 3.60% of the company’s stock.

Gartner Stock Down 0.8 %

Shares of Gartner stock opened at $538.05 on Thursday. The stock has a 50-day moving average price of $506.85 and a 200 day moving average price of $502.86. The company has a market cap of $41.50 billion, a P/E ratio of 39.68, a P/E/G ratio of 2.92 and a beta of 1.33. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $559.00.

Gartner (NYSE:IT) last announced its quarterly earnings data 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. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.56 EPS. As a group, analysts expect that Gartner, Inc. will post 11.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on IT shares. Robert W. Baird raised their target price on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a research note on Monday. Wells Fargo & Company decreased their target price on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Morgan Stanley decreased their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $550.75.

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.