Gartner, Inc. (NYSE:IT) Shares Sold by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC lessened its stake in shares of Gartner, Inc. (NYSE:IT) by 7.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,505 shares of the information technology services provider’s stock after selling 200 shares during the period. MainStreet Investment Advisors LLC’s holdings in Gartner were worth $1,125,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IT. Norges Bank purchased a new stake in shares of Gartner during the fourth quarter worth $388,781,000. First Trust Advisors LP grew its stake in Gartner by 830.4% during the 4th quarter. First Trust Advisors LP now owns 514,230 shares of the information technology services provider’s stock valued at $231,974,000 after acquiring an additional 458,963 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Gartner by 22.0% in the 2nd quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock valued at $852,014,000 after acquiring an additional 341,911 shares during the last quarter. Wellington Management Group LLP lifted its stake in Gartner by 12.0% in the 4th quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock worth $835,826,000 after purchasing an additional 198,274 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Gartner by 18.5% during the 4th 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 during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on IT. Bank of America lifted their price objective on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company upgraded Gartner to a “strong sell” rating in a report on Tuesday, August 13th. BMO Capital Markets upped their price objective on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. UBS Group lifted their target price on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley increased their price target on shares of Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $521.00.

Insiders Place Their Bets

In other Gartner news, EVP Scott Hensel sold 5,580 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $490.00, for a total value of $2,734,200.00. Following the completion of the transaction, the executive vice president now owns 19,724 shares in the company, valued at $9,664,760. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Yvonne Genovese sold 443 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $483.62, for a total transaction of $214,243.66. Following the completion of the transaction, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at $947,411.58. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Scott Hensel sold 5,580 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 19,724 shares in the company, valued at approximately $9,664,760. The disclosure for this sale can be found here. Insiders have sold a total of 27,998 shares of company stock worth $13,834,898 in the last ninety days. 3.60% of the stock is owned by corporate insiders.

Gartner Price Performance

Gartner stock opened at $483.68 on Friday. The company’s 50 day simple moving average is $471.55 and its 200-day simple moving average is $459.03. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. Gartner, Inc. has a 1 year low of $323.61 and a 1 year high of $509.15. The company has a market capitalization of $37.55 billion, a price-to-earnings ratio of 48.13, a price-to-earnings-growth ratio of 3.83 and a beta of 1.32.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the firm earned $2.85 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities research analysts expect that Gartner, Inc. will post 11.59 earnings per share for the current year.

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.