Picton Mahoney Asset Management Reduces Stake in Gartner, Inc. (NYSE:IT)

Picton Mahoney Asset Management reduced its position in Gartner, Inc. (NYSE:IT) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,781 shares of the information technology services provider’s stock after selling 446 shares during the period. Picton Mahoney Asset Management’s holdings in Gartner were worth $14,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of IT. Kestra Investment Management LLC purchased a new position in Gartner during the fourth quarter valued at $29,000. SBI Securities Co. Ltd. purchased a new position in Gartner during the fourth quarter valued at $49,000. True Wealth Design LLC raised its holdings in Gartner by 2,350.0% during the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after acquiring an additional 94 shares during the period. Promus Capital LLC bought a new stake in Gartner during the fourth quarter valued at about $57,000. Finally, Global Retirement Partners LLC raised its holdings in Gartner by 14.0% during the fourth quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock valued at $134,000 after acquiring an additional 34 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Trading Up 1.2 %

Shares of NYSE IT opened at $457.45 on Friday. The business’s 50 day moving average is $508.08 and its two-hundred day moving average is $509.45. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $584.01. The stock has a market capitalization of $35.14 billion, a P/E ratio of 28.54, a PEG ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, topping the consensus estimate of $3.22 by $2.23. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The company 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 firm posted $3.04 earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, research analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on IT. Morgan Stanley decreased their price target on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company decreased their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a report on Friday, January 10th. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, March 5th. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $525.00 to $600.00 in a report on Friday, January 10th. Finally, Robert W. Baird lifted 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 research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $552.63.

Insiders Place Their Bets

In other Gartner news, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the transaction, the director now owns 1,627 shares in the company, valued at $796,855.79. The trade was a 42.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the transaction, the senior vice president now owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by 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.