Axxcess Wealth Management LLC Lowers Holdings in Gartner, Inc. (NYSE:IT)

Axxcess Wealth Management LLC decreased its holdings in shares of Gartner, Inc. (NYSE:IT) by 26.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,114 shares of the information technology services provider’s stock after selling 408 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Gartner were worth $503,000 at the end of the most recent quarter.

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

Insider Activity

In other news, EVP Yvonne Genovese sold 560 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $457.37, for a total value of $256,127.20. Following the completion of the transaction, the executive vice president now directly owns 2,398 shares of the company’s stock, valued at $1,096,773.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Yvonne Genovese sold 560 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $457.37, for a total value of $256,127.20. Following the completion of the transaction, the executive vice president now owns 2,398 shares of the company’s stock, valued at $1,096,773.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 sale, the executive vice president now owns 12,269 shares in the company, valued at approximately $5,557,857. The disclosure for this sale can be found here. Insiders have sold 22,952 shares of company stock worth $10,598,070 over the last ninety days. 3.60% of the stock is currently owned by insiders.

Gartner Stock Performance

Shares of IT stock opened at $436.90 on Wednesday. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $34.07 billion, a PE ratio of 43.47, a P/E/G ratio of 3.44 and a beta of 1.32. Gartner, Inc. has a 1 year low of $300.94 and a 1 year high of $486.54. The stock has a fifty day moving average price of $461.54 and a 200 day moving average price of $442.74.

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, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the previous year, the company posted $2.88 EPS. The business’s revenue was up 4.5% on a year-over-year basis. Sell-side analysts forecast that Gartner, Inc. will post 11.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. BMO Capital Markets dropped their price objective on Gartner from $450.00 to $432.00 and set a “market perform” rating on the stock in a report on Thursday, May 2nd. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. Robert W. Baird decreased their price target on Gartner from $536.00 to $517.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Morgan Stanley boosted their price objective 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, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Gartner in a research report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price objective for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $474.50.

Gartner Company 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.