Blueshift Asset Management LLC Trims Stake in Gartner, Inc. (NYSE:IT)

Blueshift Asset Management LLC lessened its holdings in Gartner, Inc. (NYSE:IT) by 61.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 736 shares of the information technology services provider’s stock after selling 1,183 shares during the period. Blueshift Asset Management LLC’s holdings in Gartner were worth $357,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in IT. Kestra Investment Management LLC purchased a new position in Gartner in the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. bought a new stake in shares of Gartner during the 4th quarter worth $49,000. True Wealth Design LLC grew its position in Gartner by 2,350.0% in the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after acquiring an additional 94 shares in the last quarter. Promus Capital LLC bought a new position in Gartner in the fourth quarter valued at $57,000. Finally, Global Retirement Partners LLC raised its position 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 purchasing an additional 34 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Gartner Stock Up 2.7 %

Shares of NYSE IT opened at $430.03 on Friday. The firm’s fifty day moving average is $502.37 and its 200 day moving average is $507.66. Gartner, Inc. has a 52 week low of $409.50 and a 52 week high of $584.01. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The company has a market cap of $33.03 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 3.30 and a beta of 1.29.

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on IT. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a report on Friday. Wells Fargo & Company cut 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. Robert W. Baird decreased their price target on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research note on Friday. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $525.00 to $600.00 in a research note on Friday, January 10th. Finally, Morgan Stanley decreased their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Gartner currently has an average rating of “Hold” and a consensus price target of $546.63.

Insider Activity at Gartner

In related news, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction 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 sale, the senior vice president now owns 3,259 shares in the company, valued at $1,728,932.09. The trade was a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eileen Serra sold 1,200 shares of the company’s stock in a transaction 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 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. 3.60% of the stock is owned by company insiders.

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.