Pitcairn Co. Sells 327 Shares of Gartner, Inc. (NYSE:IT)

by · The Markets Daily

Pitcairn Co. lowered its holdings in shares of Gartner, Inc. (NYSE:IT – Free Report) by 17.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,512 shares of the information technology services provider’s stock after selling 327 shares during the quarter. Pitcairn Co.’s holdings in Gartner were worth $766,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Baron Wealth Management LLC grew its stake in shares of Gartner by 4.1% during the 3rd quarter. Baron Wealth Management LLC now owns 481 shares of the information technology services provider’s stock valued at $244,000 after acquiring an additional 19 shares during the period. Fortitude Family Office LLC boosted its stake in Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after buying an additional 20 shares during the last quarter. Moors & Cabot Inc. grew its holdings in shares of Gartner by 3.0% in the second quarter. Moors & Cabot Inc. now owns 763 shares of the information technology services provider’s stock valued at $343,000 after purchasing an additional 22 shares in the last quarter. Mather Group LLC. grew its stake in shares of Gartner by 2.2% in the 2nd quarter. Mather Group LLC. now owns 1,079 shares of the information technology services provider’s stock worth $514,000 after buying an additional 23 shares in the last quarter. Finally, Wallace Advisory Group LLC increased its stake in Gartner by 2.4% during the second quarter. Wallace Advisory Group LLC now owns 980 shares of the information technology services provider’s stock worth $440,000 after acquiring an additional 23 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insider Transactions at Gartner

In related news, Director James C. Smith sold 2,450 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 529,844 shares in the company, valued at $293,893,869.92. The trade was a 0.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Scott Hensel sold 5,580 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $490.00, for a total transaction of $2,734,200.00. Following the sale, the executive vice president now directly owns 19,724 shares of the company’s stock, valued at $9,664,760. The trade was a 22.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 72,729 shares of company stock valued at $37,809,011. Corporate insiders own 3.60% of the company’s stock.

Gartner Stock Up 0.1 %

Shares of Gartner stock opened at $519.78 on Monday. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $559.00. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $40.09 billion, a price-to-earnings ratio of 38.33, a PEG ratio of 3.24 and a beta of 1.32. The firm’s 50-day moving average is $520.07 and its two-hundred day moving average is $481.44.

Gartner (NYSE:IT – Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) 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 net margin of 17.33% and a return on equity of 118.27%. Gartner’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company posted $2.56 earnings per share. As a group, research analysts expect that Gartner, Inc. will post 11.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Bank of America upped their price target on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley increased their target price on Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Robert W. Baird boosted their target price on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Finally, UBS Group boosted their price objective on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One investment 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. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $539.25.

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About Gartner

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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.

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