Sumitomo Mitsui Trust Holdings Inc. Trims Stock Position in Gartner, Inc. (NYSE:IT)

Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in Gartner, Inc. (NYSE:IT) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 190,617 shares of the information technology services provider’s stock after selling 868 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.24% of Gartner worth $90,861,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. BKM Wealth Management LLC purchased a new stake in shares of Gartner in the fourth quarter worth $26,000. MCF Advisors LLC bought a new position in Gartner in the 4th quarter worth about $27,000. Frazier Financial Advisors LLC purchased a new stake in Gartner during the 4th quarter valued at about $27,000. VisionPoint Advisory Group LLC grew its position in Gartner by 254.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 85 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 61 shares during the last quarter. Finally, AdvisorNet Financial Inc increased its stake in Gartner by 59.5% during the 4th quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 25 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IT. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a report on Saturday, June 29th. BMO Capital Markets reduced their target price on Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a report on Thursday, May 2nd. UBS Group lowered their price target on Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Robert W. Baird reduced their price objective on Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Gartner in a research note on Tuesday, April 16th. They set a “hold” rating and a $507.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Gartner currently has a consensus rating of “Moderate Buy” and an average price target of $474.50.

Insider Buying and Selling at Gartner

In other Gartner news, Director James C. Smith sold 10,000 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $455.20, for a total value of $4,552,000.00. Following the transaction, the director now directly owns 608,369 shares in the company, valued at $276,929,568.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Gartner news, Director James C. Smith sold 10,000 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $455.20, for a total value of $4,552,000.00. Following the completion of the sale, the director now owns 608,369 shares in the company, valued at $276,929,568.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Yvonne Genovese sold 439 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $456.13, for a total value of $200,241.07. Following the completion of the transaction, the executive vice president now directly owns 1,959 shares in the company, valued at approximately $893,558.67. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,544 shares of company stock valued at $10,079,813. Insiders own 3.60% of the company’s stock.

Gartner Stock Performance

Shares of IT opened at $447.75 on Friday. The firm has a market capitalization of $34.76 billion, a P/E ratio of 44.55, a PEG ratio of 3.91 and a beta of 1.33. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91. Gartner, Inc. has a one year low of $323.61 and a one year high of $486.54. The business has a fifty day moving average of $438.93 and a 200 day moving average of $451.95.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.40. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the company posted $2.88 EPS. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Gartner, Inc. will post 11.55 EPS for the current year.

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.