Equitable Trust Co. Reduces Stake in Gartner, Inc. (NYSE:IT)

Equitable Trust Co. reduced its position in Gartner, Inc. (NYSE:IT) by 6.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,207 shares of the information technology services provider’s stock after selling 145 shares during the period. Equitable Trust Co.’s holdings in Gartner were worth $1,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Eastern Bank purchased a new position in Gartner during the third quarter valued at $26,000. Crewe Advisors LLC raised its holdings in Gartner by 223.3% during the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after acquiring an additional 67 shares during the period. Fortitude Family Office LLC raised its holdings in Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after acquiring an additional 20 shares during the period. J.Safra Asset Management Corp raised its holdings in Gartner by 58.7% during the first quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock valued at $70,000 after acquiring an additional 54 shares during the period. Finally, Asset Dedication LLC raised its holdings in Gartner by 46.5% during the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock valued at $75,000 after acquiring an additional 47 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gartner

In other news, EVP Akhil Jain sold 400 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $485.00, for a total transaction of $194,000.00. Following the transaction, the executive vice president now owns 4,839 shares of the company’s stock, valued at approximately $2,346,915. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Yvonne Genovese sold 443 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $483.62, for a total transaction of $214,243.66. Following the transaction, the executive vice president now owns 1,959 shares of the company’s stock, valued at approximately $947,411.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Akhil Jain sold 400 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $485.00, for a total value of $194,000.00. Following the transaction, the executive vice president now directly owns 4,839 shares in the company, valued at $2,346,915. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,899 shares of company stock valued at $30,317,486 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on IT. Morgan Stanley raised their price target on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. UBS Group raised their price target on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Bank of America raised their price target on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets lifted their target price on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Gartner has an average rating of “Hold” and an average price target of $539.25.

Gartner Stock Up 1.2 %

Shares of NYSE:IT opened at $547.40 on Friday. Gartner, Inc. has a 1 year low of $397.43 and a 1 year high of $552.33. The business has a 50 day simple moving average of $512.66 and a two-hundred day simple moving average of $474.42. The firm has a market capitalization of $42.18 billion, a PE ratio of 40.37, a price-to-earnings-growth ratio of 3.27 and a beta of 1.32. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 0.90.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.05. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.56 earnings per share. On average, equities analysts predict that Gartner, Inc. will post 11.88 EPS for the current year.

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.