Gartner, Inc. (NYSE:IT) Position Trimmed by Edgestream Partners L.P.

Edgestream Partners L.P. lowered its stake in Gartner, Inc. (NYSE:IT) by 60.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,471 shares of the information technology services provider’s stock after selling 5,211 shares during the period. Edgestream Partners L.P.’s holdings in Gartner were worth $1,559,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Moors & Cabot Inc. lifted its holdings in shares of Gartner by 3.0% during the second quarter. Moors & Cabot Inc. now owns 763 shares of the information technology services provider’s stock valued at $343,000 after purchasing an additional 22 shares during the last quarter. Citizens Financial Group Inc. RI acquired a new stake in Gartner during the 2nd quarter worth about $354,000. Dimensional Fund Advisors LP lifted its stake in Gartner by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 585,026 shares of the information technology services provider’s stock valued at $262,706,000 after buying an additional 56,908 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Gartner by 40.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 47,205 shares of the information technology services provider’s stock worth $21,198,000 after buying an additional 13,667 shares during the period. Finally, Wealthspire Advisors LLC increased its position in shares of Gartner by 32.5% in the second quarter. Wealthspire Advisors LLC now owns 640 shares of the information technology services provider’s stock worth $287,000 after acquiring an additional 157 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Activity

In related news, EVP Claire Herkes sold 478 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $506.01, for a total transaction of $241,872.78. Following the completion of the transaction, the executive vice president now owns 1,905 shares in the company, valued at $963,949.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Gartner news, CEO Eugene A. Hall sold 34,060 shares of Gartner stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total value of $17,213,924.00. Following the sale, the chief executive officer now directly owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Claire Herkes sold 478 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $506.01, for a total value of $241,872.78. Following the sale, the executive vice president now owns 1,905 shares in the company, valued at approximately $963,949.05. The disclosure for this sale can be found here. Insiders have sold a total of 65,164 shares of company stock valued at $32,601,014 in the last 90 days. 3.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

IT has been the subject of several research analyst reports. Wells Fargo & Company raised Gartner to a “strong sell” rating in a research note on Tuesday, August 13th. Bank of America boosted their price objective on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Morgan Stanley increased their target price on shares of Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. BMO Capital Markets boosted their price target on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Finally, StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Gartner has a consensus rating of “Hold” and a consensus price target of $521.00.

Gartner Stock Up 1.4 %

NYSE IT opened at $513.42 on Friday. The stock’s 50 day simple moving average is $481.90 and its 200 day simple moving average is $461.86. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90. Gartner, Inc. has a one year low of $323.61 and a one year high of $517.48. The firm has a market cap of $39.86 billion, a PE ratio of 51.09, a price-to-earnings-growth ratio of 3.89 and a beta of 1.32.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. Gartner’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.85 earnings per share. As a group, sell-side analysts forecast that Gartner, Inc. will post 11.59 earnings per share for the current fiscal 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.