Select Equity Group L.P. lowered its stake in Gartner Inc (NYSE:IT) by 1.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,880,669 shares of the information technology services provider’s stock after selling 96,432 shares during the period. Gartner makes up approximately 5.2% of Select Equity Group L.P.’s portfolio, making the stock its biggest holding. Select Equity Group L.P. owned approximately 0.05% of Gartner worth $648,641,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Polen Capital Management LLC increased its holdings in Gartner by 30.5% during the 1st quarter. Polen Capital Management LLC now owns 5,393,527 shares of the information technology services provider’s stock valued at $634,387,000 after purchasing an additional 1,261,318 shares during the period. JPMorgan Chase & Co. increased its holdings in Gartner by 114.6% during the 1st quarter. JPMorgan Chase & Co. now owns 1,713,982 shares of the information technology services provider’s stock valued at $201,598,000 after purchasing an additional 915,229 shares during the period. Bank of America Corp DE increased its holdings in Gartner by 175.0% during the 2nd quarter. Bank of America Corp DE now owns 1,370,511 shares of the information technology services provider’s stock valued at $182,142,000 after purchasing an additional 872,182 shares during the period. Principal Financial Group Inc. increased its holdings in Gartner by 22.6% during the 1st quarter. Principal Financial Group Inc. now owns 3,589,077 shares of the information technology services provider’s stock valued at $422,148,000 after purchasing an additional 662,107 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in Gartner by 11.6% during the 2nd quarter. Janus Henderson Group PLC now owns 5,238,694 shares of the information technology services provider’s stock valued at $696,223,000 after purchasing an additional 543,074 shares during the period. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Gartner stock opened at $157.24 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 2.33. The company has a market cap of $14.08 billion, a price-to-earnings ratio of 47.50, a PEG ratio of 2.76 and a beta of 1.19. Gartner Inc has a fifty-two week low of $111.57 and a fifty-two week high of $159.17.

Gartner (NYSE:IT) last posted its quarterly earnings data on Wednesday, August 1st. The information technology services provider reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.07. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $985.98 million. Gartner had a return on equity of 35.04% and a net margin of 2.25%. The business’s revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 EPS. analysts forecast that Gartner Inc will post 3.74 earnings per share for the current year.

In other Gartner news, EVP Robin B. Kranich sold 4,000 shares of Gartner stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $140.09, for a total transaction of $560,360.00. Following the sale, the executive vice president now directly owns 16,916 shares of the company’s stock, valued at approximately $2,369,762.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Eugene A. Hall sold 38,995 shares of Gartner stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $139.26, for a total value of $5,430,443.70. Following the sale, the chief executive officer now directly owns 1,173,882 shares in the company, valued at $163,474,807.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,106 shares of company stock worth $7,905,627. Insiders own 4.30% of the company’s stock.

A number of brokerages recently issued reports on IT. Morgan Stanley restated a “hold” rating and set a $149.00 price target on shares of Gartner in a report on Thursday. BMO Capital Markets restated a “buy” rating and set a $161.00 price target (up previously from $147.00) on shares of Gartner in a report on Friday, August 31st. Barclays restated a “buy” rating and set a $155.00 price target on shares of Gartner in a report on Sunday, August 12th. TheStreet upgraded Gartner from a “c” rating to a “b” rating in a report on Wednesday, August 1st. Finally, Piper Jaffray Companies restated a “hold” rating and set a $116.00 price target on shares of Gartner in a report on Thursday, August 2nd. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Gartner presently has a consensus rating of “Buy” and an average price target of $143.73.

About Gartner

Gartner, Inc operates as a research and advisory company. It operates through four segments: Research, Consulting, Events, and Talent Assessment & Other. The Research segment offers objective insights and advice on the priorities of various leaders in a range of functional areas of the enterprise through research and other reports, briefings, proprietary tools, access to our analysts, peer networking services, and membership programs that enable clients to make better decisions; and practice and talent management research insights in various business functions, such as human resources, sales, legal, and finance.

Featured Article: What does the Dow Jones Industrial Average (DJIA) measure?

Want to see what other hedge funds are holding IT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gartner Inc (NYSE:IT).

Institutional Ownership by Quarter for Gartner (NYSE:IT)

Receive News & Ratings for Gartner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gartner and related companies with MarketBeat.com's FREE daily email newsletter.