Pitcairn Co. Decreases Stock Holdings in Gartner, Inc. (NYSE:IT)

Pitcairn Co. reduced its position in shares of Gartner, Inc. (NYSE:IT) by 17.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,512 shares of the information technology services provider’s stock after selling 327 shares during the period. Pitcairn Co.’s holdings in Gartner were worth $766,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in IT. Eastern Bank acquired a new stake in shares of Gartner in the third quarter valued at approximately $26,000. Crewe Advisors LLC grew its stake in shares of Gartner by 223.3% in the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after acquiring an additional 67 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Gartner during the 3rd quarter worth about $44,000. Fortitude Family Office LLC increased its stake in shares of Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after buying an additional 20 shares during the period. Finally, Asset Dedication LLC raised its holdings in shares of Gartner by 46.5% in the 3rd quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock valued at $75,000 after purchasing an additional 47 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Stock Up 0.1 %

Shares of NYSE IT opened at $519.78 on Monday. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $559.00. The firm’s 50 day moving average price is $520.07 and its 200 day moving average price is $481.44. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $40.09 billion, a P/E ratio of 38.33, a price-to-earnings-growth ratio of 3.24 and a beta of 1.32.

Gartner (NYSE:IT) last released its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.05. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the company earned $2.56 earnings per share. As a group, sell-side analysts anticipate that Gartner, Inc. will post 11.89 earnings per share for the current year.

Wall Street Analyst Weigh In

IT has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Morgan Stanley upped their price target on 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 raised their price objective on shares of Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. UBS Group upped their price target on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets lifted their price objective on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Gartner currently has an average rating of “Hold” and a consensus price target of $539.25.

Insider Transactions at Gartner

In other Gartner news, Director James C. Smith sold 2,450 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $554.68, for a total value of $1,358,966.00. Following the transaction, the director now owns 529,844 shares in the company, valued at $293,893,869.92. The trade was a 0.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Akhil Jain sold 500 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $492.00, for a total value of $246,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,339 shares of the company’s stock, valued at $2,134,788. This represents a 10.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,729 shares of company stock worth $37,809,011 in the last three months. 3.60% of the stock is currently owned by company insiders.

Gartner 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.