Janney Montgomery Scott LLC Sells 231 Shares of Gartner, Inc. (NYSE:IT)

Janney Montgomery Scott LLC decreased its position in Gartner, Inc. (NYSE:IT) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,803 shares of the information technology services provider’s stock after selling 231 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Gartner were worth $5,475,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IT. Vanguard Group Inc. boosted its position in shares of Gartner by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 8,974,760 shares of the information technology services provider’s stock worth $4,277,999,000 after purchasing an additional 60,786 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Gartner by 22.0% in the second quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock worth $852,014,000 after acquiring an additional 341,911 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Gartner by 1.3% during the first quarter. Bessemer Group Inc. now owns 609,945 shares of the information technology services provider’s stock valued at $290,742,000 after acquiring an additional 7,852 shares in the last quarter. Sustainable Growth Advisers LP purchased a new position in shares of Gartner in the 2nd quarter worth about $266,541,000. Finally, Dimensional Fund Advisors LP boosted its stake in Gartner by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 585,026 shares of the information technology services provider’s stock worth $262,706,000 after purchasing an additional 56,908 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IT. Wells Fargo & Company raised their price objective on shares of Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research note on Wednesday. BMO Capital Markets boosted their price objective on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Barclays increased their target price on Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday. Bank of America boosted their price target on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, UBS Group increased their price objective on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Gartner currently has a consensus rating of “Hold” and a consensus target price of $539.25.

Insider Buying and Selling at Gartner

In other news, EVP Akhil Jain sold 400 shares of Gartner stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $485.00, for a total transaction of $194,000.00. Following the transaction, the executive vice president now owns 4,839 shares in the company, valued at $2,346,915. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Gartner news, EVP Akhil Jain sold 400 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $485.00, for a total value of $194,000.00. Following the completion of the sale, the executive vice president now owns 4,839 shares in the company, valued at $2,346,915. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James C. Smith sold 10,000 shares of Gartner stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $535.76, for a total value of $5,357,600.00. Following the transaction, the director now directly owns 554,274 shares in the company, valued at approximately $296,957,838.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,899 shares of company stock valued at $30,317,486. Insiders own 3.60% of the company’s stock.

Gartner Stock Performance

Shares of IT opened at $547.75 on Friday. The firm has a market capitalization of $42.21 billion, a P/E ratio of 40.39, a PEG ratio of 3.14 and a beta of 1.32. 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 $397.43 and a one year high of $552.33. The business has a fifty day moving average of $512.66 and a 200 day moving average of $474.26.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the company posted $2.56 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Gartner, Inc. will post 11.65 EPS for the current year.

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.