Kingswood Wealth Advisors LLC Sells 257 Shares of Gartner, Inc. (NYSE:IT)

Kingswood Wealth Advisors LLC lowered its holdings in Gartner, Inc. (NYSE:IT) by 11.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,910 shares of the information technology services provider’s stock after selling 257 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Gartner were worth $910,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in Gartner during the fourth quarter valued at approximately $388,781,000. First Trust Advisors LP grew its holdings in shares of Gartner by 830.4% in the fourth quarter. First Trust Advisors LP now owns 514,230 shares of the information technology services provider’s stock worth $231,974,000 after purchasing an additional 458,963 shares during the last quarter. American Century Companies Inc. increased its holdings in Gartner by 888.4% during the 3rd quarter. American Century Companies Inc. now owns 300,106 shares of the information technology services provider’s stock worth $103,119,000 after purchasing an additional 269,744 shares during the period. Wellington Management Group LLP boosted its position in Gartner by 12.0% during the 4th quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock valued at $835,826,000 after acquiring an additional 198,274 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Gartner by 18.5% during the fourth quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock worth $415,344,000 after purchasing an additional 143,556 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Stock Performance

IT traded down $3.41 during midday trading on Wednesday, hitting $446.50. 286,714 shares of the company were exchanged, compared to its average volume of 411,968. The firm has a market capitalization of $34.66 billion, a price-to-earnings ratio of 44.43, a price-to-earnings-growth ratio of 3.94 and a beta of 1.32. The company’s 50 day simple moving average is $438.99 and its 200 day simple moving average is $452.35. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.42. Gartner, Inc. has a 1-year low of $323.61 and a 1-year high of $486.54.

Gartner (NYSE:IT) last released its earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.53 by $0.40. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the previous year, the firm posted $2.88 EPS. Gartner’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, sell-side analysts predict that Gartner, Inc. will post 11.55 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Alwyn Dawkins sold 600 shares of Gartner stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $447.63, for a total transaction of $268,578.00. Following the completion of the sale, the executive vice president now directly owns 51,583 shares in the company, valued at approximately $23,090,098.29. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Yvonne Genovese sold 439 shares of Gartner stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $456.13, for a total transaction of $200,241.07. Following the sale, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at $893,558.67. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Alwyn Dawkins sold 600 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $447.63, for a total value of $268,578.00. Following the sale, the executive vice president now owns 51,583 shares in the company, valued at $23,090,098.29. The disclosure for this sale can be found here. Insiders sold a total of 22,544 shares of company stock worth $10,079,813 in the last 90 days. Company insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IT. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. UBS Group dropped their price target on Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. BMO Capital Markets dropped their target price on Gartner from $450.00 to $432.00 and set a “market perform” rating on the stock in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Gartner in a report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price target for the company. Finally, Robert W. Baird reduced their price objective on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $474.50.

About Gartner

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.