Gartner, Inc. (NYSE:IT) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in shares of Gartner, Inc. (NYSE:IT) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 496,936 shares of the information technology services provider’s stock after selling 9,658 shares during the quarter. Bank of New York Mellon Corp’s holdings in Gartner were worth $240,751,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Kestra Investment Management LLC acquired a new stake in shares of Gartner during the fourth quarter valued at approximately $29,000. Ashton Thomas Securities LLC purchased a new position in Gartner during the 3rd quarter worth approximately $44,000. True Wealth Design LLC raised its stake in Gartner by 2,350.0% during the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock valued at $50,000 after purchasing an additional 94 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Gartner in the third quarter valued at $77,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Gartner by 20.8% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 261 shares of the information technology services provider’s stock valued at $132,000 after purchasing an additional 45 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on IT. Robert W. Baird upped their price target on Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Morgan Stanley lowered their price objective on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Finally, StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $552.63.

Gartner Trading Down 1.4 %

NYSE:IT opened at $491.38 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $37.75 billion, a P/E ratio of 30.65, a P/E/G ratio of 3.30 and a beta of 1.34. The stock’s 50 day moving average price is $509.78 and its 200 day moving average price is $509.80. Gartner, Inc. has a 52 week low of $411.15 and a 52 week high of $584.01.

Gartner (NYSE:IT) last released its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. Gartner’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.04 EPS. On average, research analysts forecast that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Buying and Selling at Gartner

In other news, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the transaction, the director now owns 1,627 shares of the company’s stock, valued at $796,855.79. This trade represents a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP John J. Rinello sold 90 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,479 shares of company stock worth $734,419 over the last three months. Corporate 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.