Wallace Advisory Group LLC Lowers Position in Gartner, Inc. (NYSE:IT)

Wallace Advisory Group LLC cut its position in shares of Gartner, Inc. (NYSE:IT) by 2.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 958 shares of the information technology services provider’s stock after selling 22 shares during the quarter. Wallace Advisory Group LLC’s holdings in Gartner were worth $485,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IT. Central Pacific Bank Trust Division purchased a new stake in shares of Gartner in the 1st quarter worth about $36,000. Crewe Advisors LLC grew its holdings in Gartner by 223.3% in the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after purchasing an additional 67 shares during the period. J.Safra Asset Management Corp increased its stake in shares of Gartner by 58.7% during the first quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock valued at $70,000 after purchasing an additional 54 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Gartner during the second quarter valued at approximately $94,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Gartner by 16.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 275 shares of the information technology services provider’s stock worth $131,000 after purchasing an additional 38 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IT has been the subject of a number of recent research reports. Bank of America lifted their price objective on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley increased their price objective on shares of Gartner from $440.00 to $470.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Wells Fargo & Company raised shares of Gartner to a “strong sell” rating in a report on Tuesday, August 13th. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, BMO Capital Markets boosted 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $521.00.

Insider Transactions at Gartner

In related news, CEO Eugene A. Hall sold 12,082 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $504.84, for a total transaction of $6,099,476.88. Following the completion of the sale, the chief executive officer now directly owns 1,143,389 shares in the company, valued at approximately $577,228,502.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Eugene A. Hall sold 12,082 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $504.84, for a total value of $6,099,476.88. Following the transaction, the chief executive officer now directly owns 1,143,389 shares of the company’s stock, valued at approximately $577,228,502.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Akhil Jain sold 400 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $485.00, for a total value of $194,000.00. Following the completion of the sale, the executive vice president now owns 4,839 shares of the company’s stock, valued at approximately $2,346,915. The trade was 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 worth $32,601,014 in the last quarter. Company insiders own 3.60% of the company’s stock.

Gartner Stock Performance

IT stock traded up $5.42 on Friday, hitting $513.71. The company had a trading volume of 271,111 shares, compared to its average volume of 381,447. The stock has a market cap of $39.88 billion, a price-to-earnings ratio of 51.14, a P/E/G ratio of 3.21 and a beta of 1.32. 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 stock’s 50-day simple moving average is $492.53 and its 200 day simple moving average is $464.97. Gartner, Inc. has a 12-month low of $323.61 and a 12-month high of $521.64.

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

Gartner 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.