Sunbelt Securities Inc. Sells 327 Shares of Gartner, Inc. (NYSE:IT)

Sunbelt Securities Inc. decreased its holdings in Gartner, Inc. (NYSE:IT) by 51.9% in the first quarter, HoldingsChannel.com reports. The fund owned 303 shares of the information technology services provider’s stock after selling 327 shares during the quarter. Sunbelt Securities Inc.’s holdings in Gartner were worth $144,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Morgan Stanley lifted its position in shares of Gartner by 4.6% in the third quarter. Morgan Stanley now owns 2,157,075 shares of the information technology services provider’s stock worth $741,193,000 after buying an additional 95,040 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Gartner by 12.0% in 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 buying an additional 198,274 shares in the last quarter. Brown Advisory Inc. lifted its position in shares of Gartner by 4.6% in the fourth quarter. Brown Advisory Inc. now owns 1,208,914 shares of the information technology services provider’s stock worth $545,353,000 after buying an additional 52,826 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Gartner by 18.5% in the fourth quarter. Franklin Resources Inc. now owns 920,716 shares of the information technology services provider’s stock worth $415,344,000 after buying an additional 143,556 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Gartner in the fourth quarter worth about $388,781,000. Institutional investors own 91.51% of the company’s stock.

Insider Transactions at Gartner

In other news, EVP Alwyn Dawkins sold 600 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $447.63, for a total value of $268,578.00. Following the sale, the executive vice president now directly owns 51,583 shares in the company, valued at $23,090,098.29. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Yvonne Genovese sold 439 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $456.13, for a total value of $200,241.07. Following the transaction, the executive vice president now owns 1,959 shares of the company’s stock, valued at $893,558.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Alwyn Dawkins sold 600 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $447.63, for a total value of $268,578.00. Following the completion of the transaction, the executive vice president now directly owns 51,583 shares in the company, valued at approximately $23,090,098.29. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,544 shares of company stock worth $10,079,813. 3.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

IT has been the topic of a number of research analyst reports. BMO Capital Markets decreased their target price on Gartner from $450.00 to $432.00 and set a “market perform” rating on the stock in a research report on Thursday, May 2nd. Robert W. Baird decreased their target price on Gartner from $536.00 to $517.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft began coverage on Gartner in a research report on Tuesday, April 16th. They set a “hold” rating and a $507.00 price objective on the stock. Finally, UBS Group decreased their price objective on Gartner from $550.00 to $510.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $474.50.

Gartner Trading Up 1.0 %

Shares of NYSE IT opened at $449.06 on Friday. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.91 and a current ratio of 0.91. The business’s 50 day moving average price is $439.07 and its 200-day moving average price is $452.18. Gartner, Inc. has a fifty-two week low of $323.61 and a fifty-two week high of $486.54. The company has a market cap of $34.86 billion, a price-to-earnings ratio of 44.68, a PEG ratio of 3.89 and a beta of 1.32.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.40. Gartner had a return on equity of 141.55% and a net margin of 13.35%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the prior year, the business posted $2.88 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, sell-side analysts expect that Gartner, Inc. will post 11.55 earnings per share for the current year.

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.