Gartner, Inc. (NYSE:IT) Stock Holdings Lowered by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC reduced its holdings in Gartner, Inc. (NYSE:IT) by 39.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,112 shares of the information technology services provider’s stock after selling 736 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Gartner were worth $564,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in shares of Gartner by 11.4% in the 1st quarter. Russell Investments Group Ltd. now owns 25,063 shares of the information technology services provider’s stock worth $11,987,000 after purchasing an additional 2,560 shares in the last quarter. Transcend Capital Advisors LLC purchased a new stake in shares of Gartner in the 2nd quarter valued at approximately $512,000. Tidal Investments LLC lifted its position in shares of Gartner by 24.4% in the 1st quarter. Tidal Investments LLC now owns 9,890 shares of the information technology services provider’s stock valued at $4,717,000 after acquiring an additional 1,940 shares in the last quarter. Findlay Park Partners LLP lifted its position in shares of Gartner by 5.7% in the 1st quarter. Findlay Park Partners LLP now owns 678,121 shares of the information technology services provider’s stock valued at $323,240,000 after acquiring an additional 36,400 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new stake in shares of Gartner in the 1st quarter valued at approximately $1,049,000. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on IT. UBS Group upped their price target on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company upped their price target on shares of Gartner from $435.00 to $460.00 and gave the company an “underweight” rating in a research report on Monday, October 14th. StockNews.com downgraded shares of Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Morgan Stanley increased their target price on shares of Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, Bank of America increased their target price on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $532.86.

Insiders Place Their Bets

In other Gartner news, EVP Yvonne Genovese sold 443 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $483.62, for a total value of $214,243.66. Following the sale, the executive vice president now directly owns 1,959 shares in the company, valued at $947,411.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Gartner news, EVP Yvonne Genovese sold 443 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $483.62, for a total value of $214,243.66. Following the sale, the executive vice president now directly owns 1,959 shares in the company, valued at $947,411.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anne Sutherland Fuchs sold 500 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $505.28, for a total transaction of $252,640.00. Following the completion of the sale, the director now owns 8,059 shares in the company, valued at $4,072,051.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,164 shares of company stock worth $32,601,014 in the last ninety days. Insiders own 3.60% of the company’s stock.

Gartner Stock Performance

NYSE:IT opened at $530.93 on Friday. Gartner, Inc. has a 1 year low of $323.61 and a 1 year high of $535.29. The firm’s fifty day simple moving average is $501.22 and its 200 day simple moving average is $468.13. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.80. The firm has a market capitalization of $41.22 billion, a PE ratio of 52.83, a PEG ratio of 3.23 and a beta of 1.32.

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