First Hawaiian Bank Sells 102 Shares of Gartner, Inc. (NYSE:IT)

First Hawaiian Bank reduced its holdings in shares of Gartner, Inc. (NYSE:IT) by 8.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,041 shares of the information technology services provider’s stock after selling 102 shares during the quarter. First Hawaiian Bank’s holdings in Gartner were worth $496,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Gartner in the 4th quarter worth approximately $388,781,000. First Trust Advisors LP raised its stake in shares of Gartner by 830.4% in the fourth quarter. First Trust Advisors LP now owns 514,230 shares of the information technology services provider’s stock valued at $231,974,000 after buying an additional 458,963 shares during the period. American Century Companies Inc. lifted its position in shares of Gartner by 888.4% during the 3rd quarter. American Century Companies Inc. now owns 300,106 shares of the information technology services provider’s stock valued at $103,119,000 after buying an additional 269,744 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Gartner by 12.0% during the 4th quarter. Wellington Management Group LLP now owns 1,852,820 shares of the information technology services provider’s stock worth $835,826,000 after acquiring an additional 198,274 shares during the period. Finally, Franklin Resources Inc. increased its holdings in Gartner by 18.5% in the 4th quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock worth $415,344,000 after acquiring an additional 143,556 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on IT shares. BMO Capital Markets cut their target price 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. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research note on Friday. UBS Group dropped their target price on Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft assumed coverage on Gartner in a research report on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price target for the company. Finally, Robert W. Baird dropped their price objective on Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $474.50.

Gartner Price Performance

Gartner stock opened at $452.13 on Friday. The business has a 50-day simple moving average of $439.48 and a 200 day simple moving average of $452.18. Gartner, Inc. has a 52 week low of $323.61 and a 52 week high of $486.54. The stock has a market cap of $35.10 billion, a price-to-earnings ratio of 44.99, a PEG ratio of 3.91 and a beta of 1.32. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.42.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.40. Gartner had a net margin of 13.35% and a return on equity of 141.55%. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the prior year, the business earned $2.88 earnings per share. Gartner’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, research analysts forecast that Gartner, Inc. will post 11.55 earnings per share for the current fiscal year.

Insider Transactions at Gartner

In related news, Director James C. Smith sold 10,000 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $455.20, for a total value of $4,552,000.00. Following the transaction, the director now owns 608,369 shares of the company’s stock, valued at $276,929,568.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Gartner news, Director James C. Smith sold 10,000 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $455.20, for a total transaction of $4,552,000.00. Following the transaction, the director now directly owns 608,369 shares in the company, valued at $276,929,568.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Yvonne Genovese sold 439 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $456.13, for a total transaction of $200,241.07. Following the completion of the sale, the executive vice president now owns 1,959 shares of the company’s stock, valued at $893,558.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,544 shares of company stock valued at $10,079,813. Insiders own 3.60% of the company’s stock.

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.