Gartner, Inc. (NYSE:IT) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in Gartner, Inc. (NYSE:IT) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 496,936 shares of the information technology services provider’s stock after selling 9,658 shares during the quarter. Bank of New York Mellon Corp owned 0.64% of Gartner worth $240,751,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Czech National Bank lifted its stake in shares of Gartner by 6.5% in the fourth quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock worth $8,103,000 after acquiring an additional 1,028 shares in the last quarter. Assetmark Inc. increased its holdings in Gartner by 70.0% during the 3rd quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider’s stock worth $2,607,000 after purchasing an additional 2,118 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Gartner in the 4th quarter valued at approximately $366,000. ING Groep NV boosted its stake in shares of Gartner by 38.4% during the 3rd quarter. ING Groep NV now owns 10,306 shares of the information technology services provider’s stock valued at $5,223,000 after buying an additional 2,860 shares during the last quarter. Finally, Conestoga Capital Advisors LLC grew its position in shares of Gartner by 1.5% during the fourth quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider’s stock worth $15,322,000 after buying an additional 480 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gartner

In other news, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. The trade was a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Eileen Serra sold 1,200 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the transaction, the director now directly owns 1,627 shares of the company’s stock, valued at $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,479 shares of company stock valued at $734,419 in the last ninety days. Company insiders own 3.60% of the company’s stock.

Gartner Trading Down 1.4 %

Shares of NYSE IT opened at $491.38 on Friday. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $584.01. The company has a market cap of $37.75 billion, a price-to-earnings ratio of 30.65, a price-to-earnings-growth ratio of 3.30 and a beta of 1.34. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock’s 50 day simple moving average is $509.78 and its 200 day simple moving average is $509.80.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business posted $3.04 earnings per share. Equities research analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

Analyst Ratings Changes

IT has been the topic of several recent analyst reports. Morgan Stanley cut their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Wells Fargo & Company decreased their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $525.00 to $600.00 in a report on Friday, January 10th. Finally, Robert W. Baird increased their target price on Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Gartner presently has an average rating of “Hold” and an average target price of $552.63.

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.