Gartner, Inc. (NYSE:IT) Stake Trimmed by New York Life Investment Management LLC

New York Life Investment Management LLC trimmed its position in Gartner, Inc. (NYSE:IT) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,139 shares of the information technology services provider’s stock after selling 50 shares during the quarter. New York Life Investment Management LLC’s holdings in Gartner were worth $5,476,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Commonwealth Equity Services LLC boosted its position in Gartner by 32.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 5,371 shares of the information technology services provider’s stock worth $1,846,000 after acquiring an additional 1,310 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in Gartner by 115.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 5,601 shares of the information technology services provider’s stock valued at $1,925,000 after purchasing an additional 3,002 shares in the last quarter. Raymond James & Associates increased its stake in Gartner by 6.4% in the 3rd quarter. Raymond James & Associates now owns 122,804 shares of the information technology services provider’s stock valued at $42,197,000 after buying an additional 7,377 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in Gartner in the 3rd quarter worth approximately $373,000. Finally, Stratos Wealth Advisors LLC boosted its stake in shares of Gartner by 3.9% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 1,588 shares of the information technology services provider’s stock valued at $546,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Price Performance

Shares of Gartner stock opened at $428.64 on Friday. Gartner, Inc. has a 1-year low of $295.43 and a 1-year high of $486.54. The firm has a fifty day simple moving average of $462.52 and a 200-day simple moving average of $440.27. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.42. The stock has a market capitalization of $33.42 billion, a price-to-earnings ratio of 42.65, a PEG ratio of 3.36 and a beta of 1.32.

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

Analyst Ratings Changes

Several analysts recently issued reports on IT shares. Robert W. Baird cut their price objective on Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a report on Wednesday. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft began coverage on Gartner in a report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price objective on the stock. Morgan Stanley lifted their target price on shares of Gartner from $421.00 to $446.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Finally, UBS Group cut their price target on shares of Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Gartner presently has an average rating of “Moderate Buy” and a consensus target price of $474.50.

Insider Activity

In other Gartner news, Director James C. Smith sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $459.68, for a total value of $4,596,800.00. Following the sale, the director now directly owns 623,235 shares in the company, valued at approximately $286,488,664.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director James C. Smith sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $459.68, for a total value of $4,596,800.00. Following the completion of the transaction, the director now directly owns 623,235 shares in the company, valued at $286,488,664.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Akhil Jain sold 250 shares of Gartner stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $464.55, for a total transaction of $116,137.50. Following the sale, the executive vice president now owns 5,239 shares in the company, valued at approximately $2,433,777.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,952 shares of company stock valued at $10,598,070. 3.60% of the stock is owned by company insiders.

Gartner Profile

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.