Wealth Alliance Reduces Holdings in Gartner, Inc. (NYSE:IT)

Wealth Alliance trimmed its position in shares of Gartner, Inc. (NYSE:IT) by 6.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,178 shares of the information technology services provider’s stock after selling 84 shares during the quarter. Wealth Alliance’s holdings in Gartner were worth $531,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in IT. OFI Invest Asset Management purchased a new position in shares of Gartner during the 3rd quarter worth $25,000. BKM Wealth Management LLC purchased a new position in shares of Gartner during the 4th quarter worth $26,000. Cornerstone Planning Group LLC purchased a new position in shares of Gartner during the 2nd quarter worth $27,000. VisionPoint Advisory Group LLC grew its holdings in shares of Gartner by 254.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 85 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 61 shares during the period. Finally, Resurgent Financial Advisors LLC purchased a new position in shares of Gartner during the 4th quarter worth $29,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Trading Down 1.9 %

IT opened at $449.41 on Thursday. Gartner, Inc. has a one year low of $292.60 and a one year high of $486.54. The company has a market cap of $35.04 billion, a P/E ratio of 40.63, a PEG ratio of 4.18 and a beta of 1.29. The company has a debt-to-equity ratio of 3.60, a quick ratio of 0.91 and a current ratio of 0.91. The business’s 50-day simple moving average is $465.66 and its 200-day simple moving average is $433.71.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.21. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the business posted $3.70 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities research analysts expect that Gartner, Inc. will post 11.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Gartner in a research note on Tuesday. They set a “hold” rating and a $507.00 target price on the stock. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Morgan Stanley increased their target price on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. UBS Group raised Gartner from a “neutral” rating to a “buy” rating and increased their price target for the company from $484.00 to $550.00 in a research report on Thursday, April 11th. Finally, BMO Capital Markets increased their price target on Gartner from $444.00 to $450.00 and gave the company a “market perform” rating in a research report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Gartner currently has an average rating of “Hold” and an average target price of $477.60.

Insider Activity

In other news, EVP Valentin Sribar sold 682 shares of the 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 transaction, the executive vice president now owns 12,269 shares in the company, valued at approximately $5,557,857. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Valentin Sribar sold 682 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $453.00, for a total transaction of $308,946.00. Following the transaction, the executive vice president now owns 12,269 shares in the company, valued at approximately $5,557,857. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Claire Herkes sold 1,460 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $475.76, for a total value of $694,609.60. Following the transaction, the executive vice president now owns 2,842 shares in the company, valued at approximately $1,352,109.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,952 shares of company stock worth $10,598,070. 3.90% of the stock is currently owned by insiders.

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.