Goldman Sachs Group Inc. Sells 133,775 Shares of Gartner, Inc. (NYSE:IT)

Goldman Sachs Group Inc. reduced its holdings in shares of Gartner, Inc. (NYSE:ITGet Rating) by 10.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,171,530 shares of the information technology services provider’s stock after selling 133,775 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Gartner were worth $391,667,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Gartner by 3.8% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,048 shares of the information technology services provider’s stock valued at $318,000 after buying an additional 38 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Gartner by 2.6% in the 3rd quarter. Quantinno Capital Management LP now owns 1,787 shares of the information technology services provider’s stock worth $543,000 after purchasing an additional 45 shares in the last quarter. Eagle Bay Advisors LLC lifted its stake in Gartner by 18.0% in the 4th quarter. Eagle Bay Advisors LLC now owns 295 shares of the information technology services provider’s stock worth $99,000 after purchasing an additional 45 shares in the last quarter. Wrapmanager Inc. lifted its stake in Gartner by 1.5% in the 3rd quarter. Wrapmanager Inc. now owns 3,299 shares of the information technology services provider’s stock worth $1,003,000 after purchasing an additional 49 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Gartner by 5.3% in the 4th quarter. Signaturefd LLC now owns 1,098 shares of the information technology services provider’s stock worth $367,000 after purchasing an additional 55 shares in the last quarter. Institutional investors own 92.05% of the company’s stock.

Shares of NYSE:IT traded up $7.92 during trading on Friday, reaching $255.52. The company had a trading volume of 515,901 shares, compared to its average volume of 559,421. The company has a fifty day moving average of $287.07 and a two-hundred day moving average of $300.51. The stock has a market capitalization of $21.03 billion, a P/E ratio of 26.98 and a beta of 1.50. Gartner, Inc. has a 12 month low of $221.50 and a 12 month high of $368.99. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 20.79.

Gartner (NYSE:ITGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The information technology services provider reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.44. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. Gartner had a net margin of 16.39% and a return on equity of 239.82%. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.00 EPS. As a group, equities research analysts predict that Gartner, Inc. will post 8.13 earnings per share for the current year.

Gartner declared that its Board of Directors has initiated a stock repurchase program on Tuesday, February 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Several research firms have issued reports on IT. Bank of America upgraded shares of Gartner from a “neutral” rating to a “buy” rating and set a $340.00 target price on the stock in a research note on Thursday, April 14th. Morgan Stanley lowered their target price on shares of Gartner from $357.00 to $339.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 9th. TheStreet cut shares of Gartner from a “b” rating to a “c+” rating in a research note on Tuesday, May 3rd. Finally, StockNews.com began coverage on shares of Gartner in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $346.50.

In other Gartner news, EVP Alwyn Dawkins sold 1,000 shares of the firm’s stock in a transaction on Tuesday, February 15th. The shares were sold at an average price of $297.08, for a total value of $297,080.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jules Kaufman sold 4,541 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $271.27, for a total transaction of $1,231,837.07. Following the completion of the sale, the executive vice president now directly owns 4,641 shares of the company’s stock, valued at $1,258,964.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,541 shares of company stock worth $1,802,327. 3.60% of the stock is owned by insiders.

Gartner Profile (Get Rating)

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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Institutional Ownership by Quarter for Gartner (NYSE:IT)

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