Lbp Am Sa Trims Stock Position in Gartner, Inc. (NYSE:IT)

Lbp Am Sa lessened its stake in Gartner, Inc. (NYSE:IT) by 72.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,249 shares of the information technology services provider’s stock after selling 3,311 shares during the period. Lbp Am Sa’s holdings in Gartner were worth $595,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in IT. MCF Advisors LLC purchased a new position in Gartner in the 4th quarter worth approximately $27,000. Frazier Financial Advisors LLC purchased a new stake in Gartner in the fourth quarter valued at $27,000. AdvisorNet Financial Inc lifted its stake in shares of Gartner by 59.5% in the 4th quarter. AdvisorNet Financial Inc now owns 67 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 25 shares during the last quarter. DSM Capital Partners LLC purchased a new stake in Gartner in the fourth quarter valued at approximately $32,000. Finally, Harbor Investment Advisory LLC lifted its stake in Gartner by 7,500.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 76 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 75 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IT. Bank of America increased their price target on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group lifted their price target on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday. BMO Capital Markets lifted their target price on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on shares of Gartner in a research note on Tuesday, April 16th. They set a “hold” rating and a $507.00 price target for the company. Finally, StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $521.00.

Insider Activity

In other news, EVP Yvonne Genovese sold 439 shares of Gartner stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $456.13, for a total value of $200,241.07. Following the completion of the transaction, the executive vice president now owns 1,959 shares in the company, valued at approximately $893,558.67. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Yvonne Genovese sold 439 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $456.13, for a total value of $200,241.07. Following the sale, the executive vice president now directly owns 1,959 shares in the company, valued at approximately $893,558.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James C. Smith sold 10,000 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $455.20, for a total value of $4,552,000.00. Following the completion of the transaction, the director now directly owns 608,369 shares of the company’s stock, valued at approximately $276,929,568.80. The disclosure for this sale can be found here. In the last three months, insiders sold 22,544 shares of company stock worth $10,079,813. 3.60% of the stock is currently owned by insiders.

Gartner Trading Down 3.7 %

Shares of IT traded down $18.31 on Friday, hitting $474.96. 174,952 shares of the stock traded hands, compared to its average volume of 407,350. Gartner, Inc. has a 1 year low of $323.61 and a 1 year high of $509.15. The stock’s 50 day moving average is $449.11 and its two-hundred day moving average is $454.97. The firm has a market capitalization of $36.87 billion, a P/E ratio of 49.08, a P/E/G ratio of 4.32 and a beta of 1.33. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.42.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. Gartner had a return on equity of 141.59% and a net margin of 13.67%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the business posted $2.85 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts predict that Gartner, Inc. will post 11.67 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.