Pacer Advisors Inc. Sells 22,478 Shares of Gartner, Inc. $IT

Pacer Advisors Inc. cut its position in shares of Gartner, Inc. (NYSE:IT) by 7.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 285,593 shares of the information technology services provider’s stock after selling 22,478 shares during the period. Pacer Advisors Inc. owned 0.43% of Gartner worth $45,221,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Moran Wealth Management LLC bought a new stake in Gartner in the 4th quarter valued at $3,516,000. CWM LLC lifted its holdings in Gartner by 86.4% during the 4th quarter. CWM LLC now owns 57,684 shares of the information technology services provider’s stock valued at $14,553,000 after purchasing an additional 26,734 shares during the last quarter. GHP Investment Advisors Inc. boosted its position in Gartner by 111.7% during the fourth quarter. GHP Investment Advisors Inc. now owns 25,569 shares of the information technology services provider’s stock worth $6,451,000 after purchasing an additional 13,493 shares during the period. Laurus Global Equity Management Inc. boosted its position in Gartner by 135.0% during the fourth quarter. Laurus Global Equity Management Inc. now owns 34,260 shares of the information technology services provider’s stock worth $8,643,000 after purchasing an additional 19,680 shares during the period. Finally, Plato Investment Management Ltd increased its holdings in shares of Gartner by 293.4% in the fourth quarter. Plato Investment Management Ltd now owns 9,002 shares of the information technology services provider’s stock valued at $2,282,000 after purchasing an additional 6,714 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IT. UBS Group cut their target price on shares of Gartner from $170.00 to $164.00 and set a “neutral” rating for the company in a research note on Friday, June 12th. Weiss Ratings lowered shares of Gartner from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday. Wells Fargo & Company lowered their price target on shares of Gartner from $140.00 to $120.00 and set an “underweight” rating on the stock in a report on Wednesday, June 24th. Morgan Stanley cut their price objective on shares of Gartner from $183.00 to $173.00 and set an “equal weight” rating for the company in a research report on Friday, July 10th. Finally, The Goldman Sachs Group set a $162.00 price objective on Gartner in a report on Tuesday, May 5th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Gartner has an average rating of “Hold” and an average price target of $173.10.

Gartner Trading Up 0.2%

Shares of Gartner stock opened at $151.33 on Tuesday. The company has a debt-to-equity ratio of 46.98, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a 50-day moving average of $144.44 and a 200-day moving average of $158.78. Gartner, Inc. has a 52-week low of $124.25 and a 52-week high of $337.29. The stock has a market cap of $10.13 billion, a PE ratio of 14.95, a PEG ratio of 0.83 and a beta of 0.97.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, May 5th. The information technology services provider reported $3.32 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.33. Gartner had a net margin of 11.44% and a return on equity of 161.39%. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the firm earned $2.98 earnings per share. Gartner’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Gartner, Inc. will post 13.61 EPS for the current year.

Gartner Profile

Gartner, Inc is a global research and advisory firm that provides insights, advice and tools for leaders in IT, finance, HR, customer service and other business functions. Founded in 1979 and headquartered in Stamford, Connecticut, Gartner specializes in helping organizations make informed decisions about technology, operations and strategy through a combination of published research, advisory services, consulting, executive programs and events.

The company’s offerings include proprietary research reports, market forecasts, and analytical frameworks that are widely used by technology buyers and vendors.