Perpetual Ltd Lowers Stock Position in Gartner, Inc. (NYSE:IT)

Perpetual Ltd lowered its stake in shares of Gartner, Inc. (NYSE:IT) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,851 shares of the information technology services provider’s stock after selling 34 shares during the period. Perpetual Ltd’s holdings in Gartner were worth $897,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Czech National Bank increased its stake in Gartner by 6.5% in the 4th quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock worth $8,103,000 after purchasing an additional 1,028 shares during the period. Assetmark Inc. increased its holdings in shares of Gartner by 70.0% in the 3rd quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider’s stock valued at $2,607,000 after acquiring an additional 2,118 shares during the period. ING Groep NV increased its position in Gartner by 38.4% during the 3rd quarter. ING Groep NV now owns 10,306 shares of the information technology services provider’s stock valued at $5,223,000 after buying an additional 2,860 shares in the last quarter. Barclays PLC boosted its position in Gartner by 8.6% in the 3rd quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock worth $84,520,000 after purchasing an additional 13,205 shares in the last quarter. Finally, Mizuho Securities USA LLC increased its holdings in Gartner by 1,074.8% in the third quarter. Mizuho Securities USA LLC now owns 70,312 shares of the information technology services provider’s stock valued at $35,631,000 after buying an additional 64,327 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Claire Herkes sold 411 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total value of $214,229.64. Following the sale, the executive vice president now directly owns 1,494 shares of the company’s stock, valued at approximately $778,732.56. This represents a 21.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP William James Wartinbee III sold 189 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $523.54, for a total value of $98,949.06. Following the completion of the transaction, the executive vice president now owns 7,311 shares in the company, valued at approximately $3,827,600.94. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 35,583 shares of company stock valued at $19,241,974. 3.60% of the stock is owned by corporate insiders.

Gartner Stock Performance

Shares of NYSE IT opened at $524.80 on Thursday. Gartner, Inc. has a 12-month low of $411.15 and a 12-month high of $559.00. The company has a market cap of $40.48 billion, a PE ratio of 38.70, a P/E/G ratio of 2.87 and a beta of 1.33. The stock has a 50 day simple moving average of $505.78 and a 200-day simple moving average of $499.91. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31.

Gartner (NYSE:IT) last issued its quarterly earnings data 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 17.33% and a return on equity of 118.27%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the company earned $2.56 earnings per share. Gartner’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts forecast that Gartner, Inc. will post 11.87 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on IT shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Robert W. Baird raised their price objective on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Wells Fargo & Company dropped their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a report on Friday, January 10th. Finally, Morgan Stanley dropped their target price on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $550.75.

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.