Chicago Partners Investment Group LLC Reduces Holdings in Gartner, Inc. (NYSE:IT)

Chicago Partners Investment Group LLC reduced its stake in Gartner, Inc. (NYSE:IT) by 7.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 511 shares of the information technology services provider’s stock after selling 44 shares during the period. Chicago Partners Investment Group LLC’s holdings in Gartner were worth $253,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Assenagon Asset Management S.A. grew its holdings in Gartner by 208.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 272,267 shares of the information technology services provider’s stock worth $131,905,000 after acquiring an additional 183,974 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Gartner in the third quarter worth about $70,955,000. Principal Financial Group Inc. increased its holdings 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 valued at $1,014,099,000 after purchasing an additional 103,814 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Gartner during the 3rd quarter valued at about $36,789,000. Finally, JPMorgan Chase & Co. lifted its holdings in Gartner by 7.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock worth $525,272,000 after buying an additional 70,236 shares during the period. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on IT shares. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $525.00 to $600.00 in a report on Friday, January 10th. Morgan Stanley dropped their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird lifted their price objective on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a report 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $550.75.

Gartner Stock Performance

NYSE:IT opened at $546.38 on Wednesday. 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 50-day simple moving average of $508.97 and a two-hundred day simple moving average of $505.61. The firm has a market capitalization of $42.14 billion, a PE ratio of 40.29, a P/E/G ratio of 3.37 and a beta of 1.34. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $584.01.

Gartner (NYSE:IT) last released its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $2.23. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period in the prior year, the firm posted $3.04 EPS. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. Analysts forecast that Gartner, Inc. will post 11.87 EPS for the current year.

Insider Activity

In other news, EVP Claire Herkes sold 411 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total transaction of $214,229.64. Following the completion of the transaction, the executive vice president now directly owns 1,494 shares in the company, valued at approximately $778,732.56. This represents a 21.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James C. Smith sold 2,450 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $554.68, for a total transaction of $1,358,966.00. Following the sale, the director now directly owns 529,844 shares in the company, valued at approximately $293,893,869.92. The trade was a 0.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,583 shares of company stock worth $13,884,374 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

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.