NewEdge Advisors LLC Sells 2,287 Shares of Gartner, Inc. (NYSE:IT)

NewEdge Advisors LLC trimmed its holdings in shares of Gartner, Inc. (NYSE:IT) by 36.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,906 shares of the information technology services provider’s stock after selling 2,287 shares during the quarter. NewEdge Advisors LLC’s holdings in Gartner were worth $1,754,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division acquired a new position in shares of Gartner in the 1st quarter valued at about $36,000. Crewe Advisors LLC boosted its holdings in shares of 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 buying an additional 67 shares in the last quarter. J.Safra Asset Management Corp grew its position in shares of Gartner by 58.7% during the 1st 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. Rothschild Investment LLC bought a new stake in shares of Gartner in the 2nd quarter valued at $94,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Gartner by 16.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 275 shares of the information technology services provider’s stock valued at $131,000 after acquiring an additional 38 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Eugene A. Hall sold 34,060 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the completion of the transaction, the chief executive officer now directly owns 1,143,401 shares of the company’s stock, valued at $577,874,865.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Eugene A. Hall sold 34,060 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the transaction, the chief executive officer now owns 1,143,401 shares of the company’s stock, valued at $577,874,865.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Claire Herkes sold 478 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $506.01, for a total value of $241,872.78. Following the transaction, the executive vice president now owns 1,905 shares of the company’s stock, valued at $963,949.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,164 shares of company stock worth $32,601,014. Insiders own 3.60% of the company’s stock.

Gartner Stock Performance

NYSE IT opened at $513.71 on Friday. The company has a fifty day moving average price of $492.53 and a 200-day moving average price of $464.89. The firm has a market cap of $39.88 billion, a price-to-earnings ratio of 51.12, a PEG ratio of 3.21 and a beta of 1.32. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90. Gartner, Inc. has a 1 year low of $323.61 and a 1 year high of $521.64.

Gartner (NYSE:IT) last issued its quarterly earnings data 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 business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.85 EPS. As a group, equities research analysts predict that Gartner, Inc. will post 11.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on IT shares. Robert W. Baird lifted their price target on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. UBS Group increased their price target on Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Bank of America boosted their price objective on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, BMO Capital Markets upped their target price on Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. One 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’s stock. Based on data from MarketBeat.com, the company presently has an average 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.