Pinnacle Wealth Planning Services Inc. Sells 159 Shares of Gartner, Inc. (NYSE:IT)

Pinnacle Wealth Planning Services Inc. lowered its stake in Gartner, Inc. (NYSE:IT) by 23.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 522 shares of the information technology services provider’s stock after selling 159 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Gartner were worth $253,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in IT. Cary Street Partners Financial LLC bought a new stake in Gartner during the fourth quarter valued at $27,000. Kestra Investment Management LLC bought a new stake in Gartner during the fourth quarter worth about $29,000. Itau Unibanco Holding S.A. boosted its holdings in shares of Gartner by 453.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider’s stock worth $40,000 after purchasing an additional 68 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Gartner during the 4th quarter valued at about $49,000. Finally, Promus Capital LLC purchased a new position in shares of Gartner during the 4th quarter valued at about $57,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

IT stock opened at $444.33 on Wednesday. The stock has a market capitalization of $34.20 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 3.30 and a beta of 1.24. The firm’s 50-day moving average price is $420.08 and its two-hundred day moving average price is $475.95. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. Gartner, Inc. has a 12-month low of $366.05 and a 12-month high of $584.01.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.26. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. Gartner’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.93 EPS. As a group, equities analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insider Activity

In other Gartner news, EVP Akhil Jain sold 625 shares of Gartner stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $450.00, for a total transaction of $281,250.00. Following the sale, the executive vice president now directly owns 6,548 shares of the company’s stock, valued at approximately $2,946,600. The trade was a 8.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Craig Safian sold 3,415 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $450.17, for a total value of $1,537,330.55. Following the transaction, the chief financial officer now owns 77,890 shares in the company, valued at $35,063,741.30. This trade represents a 4.20% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,426 shares of company stock valued at $2,430,327. Company insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IT. Barclays cut their target price on Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Robert W. Baird cut their price objective on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. UBS Group lifted their target price on shares of Gartner from $500.00 to $525.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. The Goldman Sachs Group lowered their price target on shares of Gartner from $622.00 to $535.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Finally, Wall Street Zen cut Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $518.67.

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.