Nicolet Advisory Services LLC Decreases Stock Holdings in Gartner, Inc. (NYSE:IT)

Nicolet Advisory Services LLC reduced its stake in shares of Gartner, Inc. (NYSE:IT) by 9.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 755 shares of the information technology services provider’s stock after selling 79 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Gartner were worth $369,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kestra Investment Management LLC purchased a new stake in shares of Gartner in the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of Gartner in the fourth quarter valued at $49,000. Promus Capital LLC acquired a new stake in shares of Gartner during the fourth quarter valued at $57,000. Global Retirement Partners LLC raised its stake in Gartner by 14.0% in the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock valued at $134,000 after purchasing an additional 34 shares during the last quarter. Finally, Hanson & Doremus Investment Management acquired a new stake in shares of Gartner during the 4th quarter worth about $145,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Gartner

In other news, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the sale, the director now directly owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. The trade was a 42.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John J. Rinello sold 90 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total value of $47,745.90. Following the completion of the transaction, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at $1,728,932.09. This represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on IT shares. Robert W. Baird cut their price objective on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. Wells Fargo & Company dropped their target price on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Barclays lowered their price target on Gartner from $600.00 to $510.00 and set an “overweight” rating for the company in a report on Friday. Finally, Morgan Stanley cut their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Gartner has an average rating of “Hold” and an average price target of $525.38.

Gartner Stock Down 5.4 %

IT opened at $383.12 on Friday. Gartner, Inc. has a 1 year low of $382.23 and a 1 year high of $584.01. The firm has a 50 day moving average price of $482.71 and a 200 day moving average price of $502.19. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market cap of $29.43 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating the consensus estimate of $3.22 by $2.23. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the company posted $3.04 earnings per share. Sell-side analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current 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.