Intech Investment Management LLC Reduces Holdings in Gartner, Inc. (NYSE:IT)

Intech Investment Management LLC reduced its stake in Gartner, Inc. (NYSE:IT) by 18.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,799 shares of the information technology services provider’s stock after selling 1,091 shares during the period. Intech Investment Management LLC’s holdings in Gartner were worth $2,288,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IT. Wellington Management Group LLP increased its position in shares of Gartner by 12.0% in the fourth quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock valued at $835,826,000 after acquiring an additional 198,274 shares during the period. Principal Financial Group Inc. lifted its stake in Gartner by 0.7% in the first quarter. Principal Financial Group Inc. now owns 1,555,417 shares of the information technology services provider’s stock worth $741,420,000 after acquiring an additional 10,718 shares during the period. Brown Advisory Inc. raised its holdings in Gartner by 4.6% in the 4th quarter. Brown Advisory Inc. now owns 1,208,914 shares of the information technology services provider’s stock worth $545,353,000 after purchasing an additional 52,826 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Gartner by 18.5% in the fourth quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock worth $415,344,000 after buying an additional 143,556 shares during the period. Finally, Norges Bank bought a new stake in Gartner during the 4th quarter valued at approximately $388,781,000. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In related news, Director James C. Smith sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $439.29, for a total value of $4,392,900.00. Following the completion of the transaction, the director now directly owns 599,074 shares of the company’s stock, valued at $263,167,217.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Gartner news, Director Anne Sutherland Fuchs sold 705 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $428.99, for a total value of $302,437.95. Following the completion of the sale, the director now directly owns 8,524 shares in the company, valued at $3,656,710.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James C. Smith sold 10,000 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $439.29, for a total value of $4,392,900.00. Following the transaction, the director now directly owns 599,074 shares in the company, valued at $263,167,217.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,544 shares of company stock worth $10,079,813. Corporate insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IT shares. UBS Group lowered their target price on Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Robert W. Baird reduced their target price on shares of Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. BMO Capital Markets lowered their price target on shares of Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Gartner in a research note on Tuesday, April 16th. They set a “hold” rating and a $507.00 price objective on the stock. Finally, StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Gartner has an average rating of “Hold” and an average target price of $478.50.

Gartner Stock Performance

NYSE:IT traded down $0.72 during mid-day trading on Friday, reaching $458.55. The company’s stock had a trading volume of 242,952 shares, compared to its average volume of 329,669. 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 cap of $35.60 billion, a P/E ratio of 45.63, a PEG ratio of 4.01 and a beta of 1.33. Gartner, Inc. has a 12-month low of $323.61 and a 12-month high of $486.54. The firm’s fifty day moving average price is $443.64 and its two-hundred day moving average price is $452.56.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.47 billion. During the same quarter in the prior year, the business posted $2.88 earnings per share. The business’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities analysts forecast that Gartner, Inc. will post 11.55 EPS for the current fiscal year.

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.