Truist Financial Corp Has $8.86 Million Holdings in Gartner, Inc. (NYSE:IT)

Truist Financial Corp cut its position in shares of Gartner, Inc. (NYSE:IT) by 5.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,739 shares of the information technology services provider’s stock after selling 1,159 shares during the quarter. Truist Financial Corp’s holdings in Gartner were worth $8,864,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sustainable Growth Advisers LP bought a new position in shares of Gartner in the second quarter valued at $266,541,000. Principal Financial Group Inc. boosted its stake in Gartner by 22.0% in the 2nd quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock valued at $852,014,000 after purchasing an additional 341,911 shares during the period. Wellington Management Group LLP increased its position in Gartner by 12.0% during the fourth 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. Price T Rowe Associates Inc. MD raised its stake in Gartner by 38.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 414,559 shares of the information technology services provider’s stock worth $197,608,000 after purchasing an additional 114,610 shares in the last quarter. Finally, Natixis Advisors LLC grew its position in Gartner by 117.4% during the second quarter. Natixis Advisors LLC now owns 200,097 shares of the information technology services provider’s stock worth $89,856,000 after buying an additional 108,061 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Stock Up 1.1 %

Shares of NYSE IT opened at $513.71 on Friday. Gartner, Inc. has a 52-week low of $323.61 and a 52-week high of $521.64. The company’s 50 day moving average price is $492.53 and its 200-day moving average price is $464.89. The company has a market capitalization of $39.88 billion, a P/E ratio of 51.12, a price-to-earnings-growth ratio of 3.21 and a beta of 1.32. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the company posted $2.85 earnings per share. Equities analysts forecast that Gartner, Inc. will post 11.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IT has been the topic of several recent analyst reports. BMO Capital Markets raised their target price on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Bank of America raised their price target on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Morgan Stanley boosted their price objective on Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Finally, Wells Fargo & Company upgraded shares of Gartner to a “strong sell” rating in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $521.00.

Insider Transactions at Gartner

In other news, Director Karen E. Dykstra sold 1,683 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $465.55, for a total value of $783,520.65. Following the completion of the sale, the director now owns 19,825 shares in the company, valued at $9,229,528.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Karen E. Dykstra sold 1,683 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $465.55, for a total transaction of $783,520.65. Following the completion of the sale, the director now directly owns 19,825 shares of the company’s stock, valued at approximately $9,229,528.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eugene A. Hall sold 34,060 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total value of $17,213,924.00. Following the completion of the transaction, the chief executive officer now directly owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,164 shares of company stock valued at $32,601,014 over the last ninety days. 3.60% of the stock is owned by company insiders.

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.