Victory Capital Management Inc. Trims Holdings in Gartner, Inc. (NYSE:IT)

Victory Capital Management Inc. cut its holdings in Gartner, Inc. (NYSE:IT) by 21.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,160 shares of the information technology services provider’s stock after selling 12,980 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of Gartner worth $23,392,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IT. TIAA Trust National Association boosted its stake in Gartner by 3.2% in the 1st quarter. TIAA Trust National Association now owns 744 shares of the information technology services provider’s stock worth $355,000 after purchasing an additional 23 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Gartner by 22.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 15,859 shares of the information technology services provider’s stock worth $7,560,000 after purchasing an additional 2,960 shares in the last quarter. Lake Street Advisors Group LLC bought a new position in Gartner in the 1st quarter worth about $304,000. Natixis boosted its stake in Gartner by 268.6% in the 1st quarter. Natixis now owns 25,928 shares of the information technology services provider’s stock worth $12,359,000 after purchasing an additional 18,894 shares in the last quarter. Finally, Meritage Group LP bought a new position in Gartner in the 1st quarter worth about $276,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Price Performance

Shares of NYSE:IT opened at $520.73 on Tuesday. The firm’s 50 day moving average price is $518.32 and its 200-day moving average price is $478.34. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $559.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $40.13 billion, a PE ratio of 38.40, a price-to-earnings-growth ratio of 3.27 and a beta of 1.32.

Gartner (NYSE:IT) last released its earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.05. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.56 EPS. Equities research analysts expect that Gartner, Inc. will post 11.89 EPS for the current year.

Insider Buying and Selling

In related news, Director James C. Smith sold 2,450 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $554.68, for a total value of $1,358,966.00. Following the completion of the sale, the director now directly owns 529,844 shares of the company’s stock, valued at approximately $293,893,869.92. This represents a 0.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Yvonne Genovese sold 443 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at $947,411.58. This represents a 18.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,172 shares of company stock valued at $38,023,255. 3.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Bank of America upped their price target on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley upped their target price on shares of Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Robert W. Baird upped their target price on shares of Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $539.25.

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.