Triasima Portfolio Management inc. Sells 414 Shares of Gartner, Inc. (NYSE:IT)

Triasima Portfolio Management inc. lowered its stake in Gartner, Inc. (NYSE:IT) by 8.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,614 shares of the information technology services provider’s stock after selling 414 shares during the quarter. Triasima Portfolio Management inc.’s holdings in Gartner were worth $2,072,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in Gartner in the 4th quarter worth $388,781,000. First Trust Advisors LP boosted its stake 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 acquiring an additional 458,963 shares during the period. Principal Financial Group Inc. grew its position in shares of Gartner by 22.0% during the second quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock worth $852,014,000 after purchasing an additional 341,911 shares in the last quarter. Wellington Management Group LLP raised its stake 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 purchasing an additional 198,274 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Gartner by 18.5% in 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 in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Trading Up 0.0 %

Shares of NYSE:IT traded up $0.22 during trading on Friday, hitting $483.68. The company had a trading volume of 356,677 shares, compared to its average volume of 391,639. The stock has a market cap 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. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90. The company has a fifty day simple moving average of $471.55 and a two-hundred day simple moving average of $459.03. Gartner, Inc. has a one year low of $323.61 and a one year high of $509.15.

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 return on equity of 142.05% and a net margin of 13.67%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the company earned $2.85 earnings per share. Gartner’s revenue was up 6.1% on a year-over-year basis. As a group, equities analysts forecast that Gartner, Inc. will post 11.59 earnings per share for the current year.

Wall Street Analyst Weigh In

IT has been the topic of several recent analyst reports. Robert W. Baird lifted their price objective on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Morgan Stanley lifted their price target on shares of Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. BMO Capital Markets raised their price objective on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Finally, UBS Group increased their price target on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $521.00.

Insider Buying and Selling

In related news, EVP Scott Hensel sold 5,580 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 19,724 shares of the company’s stock, valued at approximately $9,664,760. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Yvonne Genovese sold 443 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $483.62, for a total transaction of $214,243.66. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Hensel sold 5,580 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $490.00, for a total transaction of $2,734,200.00. Following the completion of the transaction, 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. In the last ninety days, insiders sold 27,998 shares of company stock valued at $13,834,898. Company insiders own 3.60% of the company’s stock.

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.