Gartner, Inc. $IT Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Gartner, Inc. (NYSE:IT) by 78.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,613 shares of the information technology services provider’s stock after selling 13,137 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Gartner were worth $674,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Gartner during the third quarter worth about $3,174,000. Vise Technologies Inc. lifted its stake in shares of Gartner by 59.7% in the third quarter. Vise Technologies Inc. now owns 5,184 shares of the information technology services provider’s stock worth $967,000 after acquiring an additional 1,937 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of Gartner by 30.0% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 16,900 shares of the information technology services provider’s stock worth $3,153,000 after acquiring an additional 3,900 shares during the period. Parcion Private Wealth LLC boosted its holdings in Gartner by 5.5% in the third quarter. Parcion Private Wealth LLC now owns 2,278 shares of the information technology services provider’s stock valued at $425,000 after acquiring an additional 118 shares during the last quarter. Finally, Soltis Investment Advisors LLC bought a new stake in Gartner in the third quarter valued at approximately $321,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Gartner Stock Performance

IT stock opened at $190.09 on Monday. The firm has a market cap of $12.00 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 0.82 and a beta of 0.92. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 46.98. The stock has a 50-day moving average price of $197.27 and a 200-day moving average price of $169.57. Gartner, Inc. has a 1-year low of $124.25 and a 1-year high of $256.89.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, November 3rd. The information technology services provider reported $3.59 EPS for the quarter, beating the consensus estimate of $2.84 by $0.75. Gartner had a return on equity of 2,287.71% and a net margin of 14.81%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the company earned $2.76 EPS. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, equities research analysts expect that Gartner, Inc. will post 15.02 earnings per share for the current year.

Insider Buying and Selling

In other Gartner news, EVP Akhil Jain sold 700 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $201.73, for a total value of $141,211.00. Following the transaction, the executive vice president directly owned 8,130 shares of the company’s stock, valued at approximately $1,640,064.90. The trade was a 7.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robin Kranich sold 3,278 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $196.50, for a total value of $644,127.00. Following the completion of the transaction, the executive vice president directly owned 20,358 shares in the company, valued at approximately $4,000,347. This trade represents a 13.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on IT shares. Barclays downgraded shares of Gartner from an “equal weight” rating to an “underweight” rating and increased their target price for the company from $150.00 to $185.00 in a research report on Friday. Royal Bank Of Canada restated a “sector perform” rating and issued a $198.00 price target on shares of Gartner in a research report on Tuesday, October 20th. Weiss Ratings lowered shares of Gartner from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, October 26th. Zacks Research lowered shares of Gartner from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Finally, UBS Group increased their price objective on shares of Gartner from $208.00 to $220.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 4th. Seven equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $206.20.

Gartner Company Profile

Gartner, Inc is a global research and advisory company that provides business and technology leaders with insights to support decision-making. Its research covers areas such as information technology, digital transformation, cybersecurity, finance, human resources, and supply chain management.

The company offers research subscriptions, advisory services, consulting, and conferences. Its research includes tools and analysis such as Magic Quadrants and Hype Cycles, which help organizations assess markets, technologies, and potential vendors.

Founded in 1979 by Gideon Gartner, the company serves clients across a range of industries and geographies.