Geneva Capital Management LLC Has $38.36 Million Position in Gartner, Inc. (NYSE:IT)

Geneva Capital Management LLC trimmed its holdings in Gartner, Inc. (NYSE:IT) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 85,026 shares of the information technology services provider’s stock after selling 4,126 shares during the quarter. Geneva Capital Management LLC owned about 0.11% of Gartner worth $38,356,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Commonwealth Equity Services LLC increased its position in Gartner by 32.3% in the third quarter. Commonwealth Equity Services LLC now owns 5,371 shares of the information technology services provider’s stock worth $1,846,000 after purchasing an additional 1,310 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of Gartner by 115.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 5,601 shares of the information technology services provider’s stock worth $1,925,000 after buying an additional 3,002 shares during the period. Stratos Wealth Partners LTD. bought a new stake in shares of Gartner during the third quarter worth approximately $373,000. IFM Investors Pty Ltd lifted its holdings in Gartner by 1.4% in the third quarter. IFM Investors Pty Ltd now owns 16,812 shares of the information technology services provider’s stock valued at $5,777,000 after buying an additional 228 shares during the period. Finally, Advisor Partners II LLC grew its holdings in Gartner by 2.4% during the 3rd quarter. Advisor Partners II LLC now owns 3,885 shares of the information technology services provider’s stock worth $1,335,000 after acquiring an additional 92 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Activity

In other news, Director James C. Smith sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $455.00, for a total value of $2,275,000.00. Following the transaction, the director now owns 638,235 shares of the company’s stock, valued at $290,396,925. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Gartner news, EVP Akhil Jain sold 250 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $464.55, for a total transaction of $116,137.50. Following the sale, the executive vice president now directly owns 5,239 shares in the company, valued at $2,433,777.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James C. Smith sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $455.00, for a total transaction of $2,275,000.00. Following the completion of the sale, the director now owns 638,235 shares in the company, valued at $290,396,925. The disclosure for this sale can be found here. Insiders have sold 22,952 shares of company stock valued at $10,598,070 over the last ninety days. 3.60% of the stock is currently owned by company insiders.

Gartner Stock Up 0.6 %

Shares of NYSE:IT traded up $2.48 during trading on Thursday, hitting $436.75. 355,621 shares of the company were exchanged, compared to its average volume of 407,849. The stock has a market cap of $34.05 billion, a price-to-earnings ratio of 43.35, a P/E/G ratio of 3.44 and a beta of 1.32. Gartner, Inc. has a fifty-two week low of $302.74 and a fifty-two week high of $486.54. The firm has a fifty day moving average price of $460.91 and a two-hundred day moving average price of $442.68. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.42.

Gartner (NYSE:IT) last posted its 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. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the previous year, the firm earned $2.88 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. As a group, research analysts anticipate that Gartner, Inc. will post 11.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Morgan Stanley raised their price target on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. UBS Group cut their price objective on Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft initiated coverage on Gartner in a research report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 target price on the stock. Robert W. Baird dropped their target price on Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Finally, StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.