Kayne Anderson Rudnick Investment Management LLC Sells 34,652 Shares of Gartner, Inc. (NYSE:IT)

Kayne Anderson Rudnick Investment Management LLC decreased its holdings in shares of Gartner, Inc. (NYSE:IT) by 12.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 253,681 shares of the information technology services provider’s stock after selling 34,652 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.33% of Gartner worth $113,918,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IT. Frazier Financial Advisors LLC purchased a new stake in Gartner during the fourth quarter valued at about $27,000. DSM Capital Partners LLC purchased a new position in shares of Gartner in the fourth quarter worth about $32,000. Central Pacific Bank Trust Division bought a new stake in shares of Gartner in the 1st quarter valued at about $36,000. Crewe Advisors LLC grew its position in Gartner by 223.3% during the 2nd 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 during the last quarter. Finally, J.Safra Asset Management Corp increased its stake in shares of Gartner by 58.7% in the first quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock worth $70,000 after buying an additional 54 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Yvonne Genovese sold 443 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $483.62, for a total transaction of $214,243.66. Following the completion of the transaction, the executive vice president now directly owns 1,959 shares in the company, valued at $947,411.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Akhil Jain sold 400 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $485.00, for a total value of $194,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,839 shares in the company, valued at approximately $2,346,915. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Yvonne Genovese sold 443 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 1,959 shares in the company, valued at $947,411.58. 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 90 days. Insiders own 3.60% of the company’s stock.

Gartner Stock Up 0.0 %

NYSE:IT opened at $513.59 on Friday. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90. The firm’s 50-day moving average price is $483.06 and its 200-day moving average price is $462.16. The company has a market capitalization of $39.87 billion, a PE ratio of 51.10, a P/E/G ratio of 3.89 and a beta of 1.32. Gartner, Inc. has a 1-year low of $323.61 and a 1-year high of $517.48.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share for the quarter, topping 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 analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the company earned $2.85 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts predict that Gartner, Inc. will post 11.59 EPS for the current fiscal year.

Analyst Ratings Changes

IT has been the subject of a number of recent analyst reports. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Robert W. Baird raised their price target on Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Bank of America boosted their price objective on shares of Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets upped their price objective on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company raised shares of Gartner to a “strong sell” rating in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $521.00.

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.