LGT Financial Advisors LLC Cuts Position in Gartner, Inc. (NYSE:IT)

LGT Financial Advisors LLC lowered its position in shares of Gartner, Inc. (NYSE:IT) by 26.0% in the third quarter, Holdings Channel reports. The firm owned 142 shares of the information technology services provider’s stock after selling 50 shares during the period. LGT Financial Advisors LLC’s holdings in Gartner were worth $72,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Gartner by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 8,974,760 shares of the information technology services provider’s stock valued at $4,277,999,000 after buying an additional 60,786 shares during the period. Principal Financial Group Inc. grew its position in Gartner by 22.0% in the second quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock valued at $852,014,000 after acquiring an additional 341,911 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Gartner by 1.3% during the first quarter. Bessemer Group Inc. now owns 609,945 shares of the information technology services provider’s stock valued at $290,742,000 after purchasing an additional 7,852 shares during the period. Sustainable Growth Advisers LP acquired a new position in shares of Gartner during the second quarter worth $266,541,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Gartner by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 585,026 shares of the information technology services provider’s stock valued at $262,706,000 after purchasing an additional 56,908 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on IT. Morgan Stanley lifted their price target on shares of Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Wells Fargo & Company boosted their price target on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a research note on Wednesday. Robert W. Baird raised their price objective on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday. UBS Group upped their target price on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Barclays raised their price target on shares of Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $539.25.

Gartner Stock Performance

IT stock opened at $536.90 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.80. The firm has a market cap of $41.37 billion, a P/E ratio of 51.13, a P/E/G ratio of 3.14 and a beta of 1.32. Gartner, Inc. has a 12-month low of $392.49 and a 12-month high of $542.13. The stock’s 50 day simple moving average is $510.44 and its 200 day simple moving average is $473.06.

Gartner (NYSE:IT) last issued its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.05. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the company earned $2.56 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts predict that Gartner, Inc. will post 11.65 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Craig Safian sold 6,310 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $483.57, for a total transaction of $3,051,326.70. Following the completion of the transaction, the chief financial officer now directly owns 71,544 shares of the company’s stock, valued at approximately $34,596,532.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Craig Safian sold 6,310 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $483.57, for a total transaction of $3,051,326.70. Following the completion of the transaction, the chief financial officer now owns 71,544 shares of the company’s stock, valued at approximately $34,596,532.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Claire Herkes sold 478 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $506.01, for a total transaction of $241,872.78. Following the completion of the sale, the executive vice president now directly owns 1,905 shares in the company, valued at approximately $963,949.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,899 shares of company stock valued at $24,959,886 over the last quarter. Insiders own 3.60% of the company’s stock.

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.