Calamos Advisors LLC Trims Position in Gartner, Inc. (NYSE:IT)

Calamos Advisors LLC cut its holdings in shares of Gartner, Inc. (NYSE:IT) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 47,140 shares of the information technology services provider’s stock after selling 616 shares during the period. Calamos Advisors LLC owned 0.06% of Gartner worth $21,265,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Fox Run Management L.L.C. purchased a new position in shares of Gartner during the third quarter valued at approximately $230,000. RFG Advisory LLC grew its stake in Gartner by 37.2% in the fourth quarter. RFG Advisory LLC now owns 1,589 shares of the information technology services provider’s stock worth $717,000 after purchasing an additional 431 shares during the period. Assenagon Asset Management S.A. grew its stake in Gartner by 169.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 37,708 shares of the information technology services provider’s stock worth $17,010,000 after purchasing an additional 23,701 shares during the period. Chapin Davis Inc. purchased a new stake in Gartner in the fourth quarter worth $960,000. Finally, Stifel Financial Corp grew its stake in Gartner by 32.6% in the third quarter. Stifel Financial Corp now owns 33,817 shares of the information technology services provider’s stock worth $11,620,000 after purchasing an additional 8,319 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Stock Performance

Shares of NYSE:IT traded down $2.17 during midday trading on Friday, reaching $447.44. 41,441 shares of the company’s stock traded hands, compared to its average volume of 385,281. The company has a market cap of $34.89 billion, a price-to-earnings ratio of 40.65, a P/E/G ratio of 4.10 and a beta of 1.29. The company has a debt-to-equity ratio of 3.60, a quick ratio of 0.91 and a current ratio of 0.91. Gartner, Inc. has a one year low of $292.60 and a one year high of $486.54. The stock has a 50 day moving average of $465.53 and a 200 day moving average of $433.82.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.21. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the company earned $3.70 EPS. Gartner’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Gartner, Inc. will post 11.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on IT shares. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. UBS Group raised Gartner from a “neutral” rating to a “buy” rating and upped their price target for the stock from $484.00 to $550.00 in a research note on Thursday, April 11th. Morgan Stanley upped their price target on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. BMO Capital Markets boosted their target price on Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a report on Thursday, February 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Gartner in a report on Tuesday. They issued a “hold” rating and a $507.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Gartner currently has an average rating of “Hold” and an average price target of $477.60.

Insider Activity

In other news, EVP Valentin Sribar sold 682 shares of Gartner stock in a transaction on Friday, February 16th. The stock was sold at an average price of $453.00, for a total value of $308,946.00. Following the transaction, the executive vice president now directly owns 12,269 shares in the company, valued at approximately $5,557,857. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Valentin Sribar sold 682 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the sale, the executive vice president now owns 12,269 shares of the company’s stock, valued at approximately $5,557,857. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Yvonne Genovese sold 560 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $457.37, for a total value of $256,127.20. Following the completion of the sale, the executive vice president now directly owns 2,398 shares of the company’s stock, valued at approximately $1,096,773.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,952 shares of company stock worth $10,598,070. 3.90% of the stock is currently owned by company insiders.

Gartner 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.