Douglas Lane & Associates LLC Sells 248 Shares of Gartner, Inc. (NYSE:IT)

Douglas Lane & Associates LLC lowered its holdings in shares of Gartner, Inc. (NYSE:IT) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,728 shares of the information technology services provider’s stock after selling 248 shares during the period. Douglas Lane & Associates LLC’s holdings in Gartner were worth $3,744,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Eastern Bank acquired a new stake in shares of Gartner during the 3rd quarter worth approximately $26,000. Ashton Thomas Securities LLC bought a new position in Gartner during the third quarter worth $44,000. True Wealth Design LLC grew its holdings 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 purchasing an additional 94 shares during the period. Fortitude Family Office LLC grew its holdings in Gartner by 23.8% in 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 increased its stake in Gartner by 46.5% in the third 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 in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insider Transactions at Gartner

In other Gartner news, Director James C. Smith sold 17,533 shares of Gartner stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $547.09, for a total value of $9,592,128.97. Following the sale, the director now owns 532,294 shares of the company’s stock, valued at approximately $291,212,724.46. The trade was a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Claire Herkes sold 411 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total transaction of $214,229.64. Following the transaction, the executive vice president now directly owns 1,494 shares of the company’s stock, valued at $778,732.56. This represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,583 shares of company stock worth $19,241,974 in the last 90 days. Insiders own 3.60% of the company’s stock.

Gartner Price Performance

Shares of NYSE:IT opened at $494.49 on Thursday. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $559.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The stock has a market cap of $38.14 billion, a PE ratio of 36.47, a price-to-earnings-growth ratio of 3.18 and a beta of 1.33. The stock’s fifty day simple moving average is $510.68 and its two-hundred day simple moving average is $495.70.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the firm earned $2.56 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. As a group, analysts forecast that Gartner, Inc. will post 11.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on IT. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company increased their price target on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Robert W. Baird boosted their price objective on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Barclays increased their target price on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Gartner currently has an average rating of “Hold” and a consensus price target of $543.75.

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.