Gartner, Inc. (NYSE:IT) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management trimmed its holdings in Gartner, Inc. (NYSE:IT) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,333 shares of the information technology services provider’s stock after selling 39 shares during the quarter. Ritholtz Wealth Management’s holdings in Gartner were worth $1,130,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Eastern Bank acquired a new stake in shares of Gartner in the 3rd quarter valued at about $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Gartner in the third quarter valued at approximately $44,000. True Wealth Design LLC grew its position in shares of Gartner by 2,350.0% during the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after acquiring an additional 94 shares during the last quarter. Fortitude Family Office LLC increased its holdings in shares of Gartner by 23.8% in the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after acquiring an additional 20 shares during the period. Finally, Asset Dedication LLC raised its position in Gartner by 46.5% in the 3rd 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 during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director James C. Smith sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $535.76, for a total value of $5,357,600.00. Following the completion of the sale, the director now directly owns 554,274 shares in the company, valued at approximately $296,957,838.24. The trade was a 1.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William James Wartinbee III sold 189 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $523.54, for a total transaction of $98,949.06. Following the sale, the executive vice president now directly owns 7,311 shares in the company, valued at $3,827,600.94. This trade represents a 2.52 % 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 valued at $19,241,974 in the last quarter. Company insiders own 3.60% of the company’s stock.

Gartner Price Performance

IT stock opened at $516.34 on Monday. The company has a market cap of $39.83 billion, a PE ratio of 38.08, a price-to-earnings-growth ratio of 2.72 and a beta of 1.33. 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 50-day moving average price of $507.49 and a two-hundred day moving average price of $498.74. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $559.00.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS 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 business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm posted $2.56 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, research analysts predict that Gartner, Inc. will post 11.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on IT shares. Deutsche Bank Aktiengesellschaft increased their price objective on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $525.00 to $600.00 in a research report on Friday, January 10th. Robert W. Baird lifted their target price on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company cut their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. One 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, the company has an average rating of “Hold” and an average price target of $550.75.

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.