Gartner, Inc. (NYSE:IT) Shares Sold by Citigroup Inc.

Citigroup Inc. decreased its stake in shares of Gartner, Inc. (NYSE:IT) by 36.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,033 shares of the information technology services provider’s stock after selling 33,452 shares during the quarter. Citigroup Inc. owned about 0.08% of Gartner worth $29,409,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IT. Eastern Bank purchased a new position in shares of Gartner during the 3rd quarter worth $26,000. Crewe Advisors LLC grew its holdings in shares of Gartner by 223.3% in the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after purchasing an additional 67 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Gartner during the third quarter worth about $44,000. Fortitude Family Office LLC raised its stake in Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after purchasing an additional 20 shares during the period. Finally, Asset Dedication LLC boosted its holdings in Gartner by 46.5% in the 3rd quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock valued at $75,000 after purchasing an additional 47 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Scott Hensel sold 5,580 shares of Gartner stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $490.00, for a total value of $2,734,200.00. Following the completion of the transaction, the executive vice president now owns 19,724 shares in the company, valued at approximately $9,664,760. This trade represents a 22.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James C. Smith sold 2,450 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $554.68, for a total value of $1,358,966.00. Following the transaction, the director now directly owns 529,844 shares of the company’s stock, valued at approximately $293,893,869.92. This represents a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,729 shares of company stock worth $37,809,011 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Gartner Stock Performance

NYSE IT opened at $518.76 on Tuesday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $40.01 billion, a P/E ratio of 38.26, a P/E/G ratio of 3.25 and a beta of 1.32. The stock has a 50-day moving average of $520.07 and a two-hundred day moving average of $481.44. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $559.00.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the firm posted $2.56 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, analysts anticipate that Gartner, Inc. will post 11.89 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on IT shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. UBS Group lifted their target price on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Bank of America increased their price target on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley boosted their price objective on shares of Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Finally, Robert W. Baird increased their target price on shares of Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $539.25.

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.