Miracle Mile Advisors LLC Decreases Holdings in Gartner, Inc. (NYSE:IT)

Miracle Mile Advisors LLC lowered its position in Gartner, Inc. (NYSE:IT) by 6.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 515 shares of the information technology services provider’s stock after selling 33 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Gartner were worth $250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of IT. Point72 Asset Management L.P. bought a new position in shares of Gartner during the third quarter valued at about $70,955,000. Principal Financial Group Inc. grew its position in Gartner by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after acquiring an additional 103,814 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Gartner in the 3rd quarter worth approximately $36,789,000. JPMorgan Chase & Co. lifted its position in Gartner by 7.3% in the third quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock valued at $525,272,000 after purchasing an additional 70,236 shares during the last quarter. Finally, Mizuho Securities USA LLC boosted its stake in shares of Gartner by 1,074.8% during the third quarter. Mizuho Securities USA LLC now owns 70,312 shares of the information technology services provider’s stock valued at $35,631,000 after purchasing an additional 64,327 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Transactions at Gartner

In other news, EVP William James Wartinbee III sold 189 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $523.54, for a total value of $98,949.06. Following the sale, the executive vice president now directly owns 7,311 shares of the company’s stock, valued at $3,827,600.94. The trade was a 2.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James C. Smith sold 17,533 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 532,294 shares of the company’s stock, valued at approximately $291,212,724.46. This trade represents a 3.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,583 shares of company stock valued at $19,241,974 in the last three months. 3.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

IT has been the topic of several analyst reports. Wells Fargo & Company decreased their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Morgan Stanley lowered their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $525.00 to $600.00 in a research note on Friday, January 10th. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Robert W. Baird lifted their price objective on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Gartner presently has an average rating of “Hold” and a consensus target price of $550.75.

Gartner Stock Performance

Gartner stock opened at $512.25 on Friday. Gartner, Inc. has a fifty-two week low of $411.15 and a fifty-two week high of $559.00. The stock’s 50 day simple moving average is $508.12 and its two-hundred day simple moving average is $497.51. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $39.51 billion, a price-to-earnings ratio of 37.78, a PEG ratio of 2.72 and a beta of 1.33.

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 the consensus estimate of $2.45 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.56 earnings per share. As a group, analysts expect that Gartner, Inc. will post 11.87 earnings per share for the current fiscal year.

Gartner Company 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.