Gartner, Inc. (NYSE:IT) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC lowered its position in Gartner, Inc. (NYSE:IT) by 2.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,384 shares of the information technology services provider’s stock after selling 180 shares during the quarter. Welch & Forbes LLC’s holdings in Gartner were worth $2,880,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in IT. Apollon Wealth Management LLC lifted its stake in shares of Gartner by 25.7% in the fourth quarter. Apollon Wealth Management LLC now owns 1,101 shares of the information technology services provider’s stock valued at $497,000 after purchasing an additional 225 shares during the period. Fielder Capital Group LLC acquired a new stake in shares of Gartner during the 4th quarter valued at approximately $258,000. Private Advisor Group LLC boosted its stake in shares of Gartner by 62.3% during the 4th quarter. Private Advisor Group LLC now owns 1,073 shares of the information technology services provider’s stock worth $484,000 after acquiring an additional 412 shares in the last quarter. FourThought Financial Partners LLC acquired a new stake in shares of Gartner in the 4th quarter worth approximately $215,000. Finally, Sapient Capital LLC purchased a new position in Gartner in the 4th quarter valued at approximately $6,379,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling at Gartner

In related news, EVP Yvonne Genovese sold 560 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $457.37, for a total transaction of $256,127.20. Following the completion of the transaction, the executive vice president now owns 2,398 shares of the company’s stock, valued at $1,096,773.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Yvonne Genovese sold 560 shares of Gartner stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $457.37, for a total value of $256,127.20. Following the transaction, the executive vice president now owns 2,398 shares in the company, valued at $1,096,773.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Valentin Sribar sold 682 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $453.00, for a total value of $308,946.00. Following the sale, the executive vice president now owns 12,269 shares of the company’s stock, valued at $5,557,857. The disclosure for this sale can be found here. Insiders sold 22,952 shares of company stock worth $10,598,070 in the last 90 days. 3.60% of the stock is owned by company insiders.

Gartner Trading Up 0.1 %

Shares of IT traded up $0.52 on Tuesday, hitting $436.90. 314,850 shares of the stock traded hands, compared to its average volume of 408,805. The firm has a market capitalization of $34.07 billion, a P/E ratio of 43.42, a P/E/G ratio of 3.44 and a beta of 1.32. 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, Inc. has a 1 year low of $300.94 and a 1 year high of $486.54. The stock’s 50 day moving average is $462.02 and its two-hundred day moving average is $442.12.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.40. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.47 billion. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.88 EPS. As a group, sell-side analysts predict that Gartner, Inc. will post 11.55 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on IT. Deutsche Bank Aktiengesellschaft initiated coverage on Gartner in a research report on Tuesday, April 16th. They set a “hold” rating and a $507.00 target price on the stock. Robert W. Baird lowered their price objective on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Morgan Stanley upped their price target on shares of Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. BMO Capital Markets dropped their price objective on shares of Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a research note on Thursday, May 2nd. Finally, UBS Group lowered their target price on Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $474.50.

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.