Mutual of America Capital Management LLC Decreases Stock Holdings in Gartner, Inc. (NYSE:IT)

Mutual of America Capital Management LLC reduced its position in Gartner, Inc. (NYSE:IT) by 4.2% during the second quarter, Holdings Channel reports. The institutional investor owned 9,790 shares of the information technology services provider’s stock after selling 430 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Gartner were worth $4,396,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of IT. DSM Capital Partners LLC purchased a new position in Gartner in the fourth quarter worth $32,000. Central Pacific Bank Trust Division acquired a new position in Gartner during the 1st quarter valued at about $36,000. Crewe Advisors LLC raised its stake in Gartner by 223.3% in the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after buying an additional 67 shares during the last quarter. J.Safra Asset Management Corp boosted its holdings in 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 acquiring an additional 54 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new stake in shares of Gartner during the second quarter worth about $94,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

IT has been the subject of several research analyst reports. BMO Capital Markets increased their price objective on shares of Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Robert W. Baird raised their price target on shares of Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Morgan Stanley raised their target price on Gartner from $440.00 to $470.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Finally, UBS Group boosted their price target on Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $521.00.

Gartner Price Performance

Shares of IT opened at $513.59 on Friday. The company has a market capitalization of $39.87 billion, a P/E ratio of 51.10, a P/E/G ratio of 3.89 and a beta of 1.32. The business’s 50-day moving average is $483.06 and its two-hundred day moving average is $462.17. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.90 and a current ratio of 0.90. Gartner, Inc. has a fifty-two week low of $323.61 and a fifty-two week high of $517.48.

Gartner (NYSE:IT) last announced its quarterly 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. The company had revenue of $1.60 billion during 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%. Gartner’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.85 earnings per share. Research analysts predict that Gartner, Inc. will post 11.59 earnings per share for the current year.

Insider Buying and Selling

In other Gartner news, EVP Akhil Jain sold 400 shares of Gartner stock in a transaction 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 owns 4,839 shares of the company’s stock, valued at $2,346,915. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Claire Herkes sold 478 shares of Gartner stock in a transaction on Friday, September 13th. The shares were sold at an average price of $506.01, for a total value of $241,872.78. Following the sale, the executive vice president now owns 1,905 shares of the company’s stock, valued at approximately $963,949.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Akhil Jain sold 400 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $485.00, for a total transaction of $194,000.00. Following the completion of the sale, the executive vice president now directly owns 4,839 shares of the company’s stock, valued at approximately $2,346,915. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,164 shares of company stock valued at $32,601,014. Corporate insiders own 3.60% of the company’s stock.

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.