Robertson Stephens Wealth Management LLC Reduces Stake in Gartner, Inc. (NYSE:IT)

Robertson Stephens Wealth Management LLC cut its position in shares of Gartner, Inc. (NYSE:IT) by 19.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,742 shares of the information technology services provider’s stock after selling 904 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Gartner were worth $1,813,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Czech National Bank grew its position in shares of Gartner by 6.1% in the third quarter. Czech National Bank now owns 15,697 shares of the information technology services provider’s stock valued at $7,955,000 after purchasing an additional 903 shares during the last quarter. Diversified Trust Co acquired a new position in shares of Gartner during the 3rd quarter worth approximately $201,000. Miracle Mile Advisors LLC lifted its stake in Gartner by 15.4% in the 3rd quarter. Miracle Mile Advisors LLC now owns 548 shares of the information technology services provider’s stock valued at $278,000 after buying an additional 73 shares in the last quarter. Mather Group LLC. lifted its stake in Gartner by 14.1% in the 3rd quarter. Mather Group LLC. now owns 1,231 shares of the information technology services provider’s stock valued at $624,000 after buying an additional 152 shares in the last quarter. Finally, Atomi Financial Group Inc. purchased a new position in Gartner during the third quarter worth $232,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Trading Down 1.3 %

Shares of IT opened at $534.12 on Friday. The stock’s fifty day simple moving average is $509.71 and its 200 day simple moving average is $506.06. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $584.01. 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 firm has a market capitalization of $41.20 billion, a P/E ratio of 39.39, a price-to-earnings-growth ratio of 3.37 and a beta of 1.34.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the company posted $3.04 earnings per share. Gartner’s revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts forecast that Gartner, Inc. will post 11.87 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Claire Herkes sold 411 shares of Gartner stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total value of $214,229.64. Following the completion of the sale, the executive vice president now owns 1,494 shares in the company, valued at approximately $778,732.56. The trade was a 21.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William James Wartinbee III sold 189 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $523.54, for a total transaction of $98,949.06. Following the transaction, the executive vice president now directly owns 7,311 shares of the company’s stock, valued at approximately $3,827,600.94. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,050 shares of company stock worth $4,292,245 in the last 90 days. 3.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on IT shares. Robert W. Baird upped their price objective on Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a research report on Wednesday. Morgan Stanley lowered their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $525.00 to $600.00 in a report on Friday, January 10th. Finally, Wells Fargo & Company decreased their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Gartner presently has an average rating of “Hold” and an average price target of $552.63.

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.