Mutual of America Capital Management LLC Trims Stake in Gartner, Inc. (NYSE:IT)

Mutual of America Capital Management LLC lessened its position in shares of Gartner, Inc. (NYSE:IT) by 3.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,489 shares of the information technology services provider’s stock after selling 301 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Gartner were worth $4,809,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Sustainable Growth Advisers LP acquired a new position in shares of Gartner in the 2nd quarter valued at $266,541,000. Principal Financial Group Inc. raised its holdings in shares of Gartner by 22.0% in the second quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock valued at $852,014,000 after buying an additional 341,911 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Gartner by 38.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 414,559 shares of the information technology services provider’s stock worth $197,608,000 after buying an additional 114,610 shares during the period. Natixis Advisors LLC grew its holdings in shares of Gartner by 117.4% during the second quarter. Natixis Advisors LLC now owns 200,097 shares of the information technology services provider’s stock worth $89,856,000 after buying an additional 108,061 shares during the last quarter. Finally, Swedbank AB purchased a new position in shares of Gartner during the first quarter worth about $30,735,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Buying and Selling at Gartner

In other news, Director James C. Smith sold 2,450 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $554.68, for a total transaction of $1,358,966.00. Following the completion of the transaction, the director now directly owns 529,844 shares of the company’s stock, valued at $293,893,869.92. This trade represents a 0.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Eugene A. Hall sold 34,060 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total value of $17,213,924.00. Following the completion of the sale, the chief executive officer now directly owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. The trade was a 2.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,172 shares of company stock valued at $38,023,255. Insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. BMO Capital Markets lifted their target price on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Barclays lifted their target price on shares of Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Bank of America increased their price target on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley lifted their price objective on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $539.25.

Gartner Trading Up 0.1 %

Shares of IT opened at $518.00 on Thursday. Gartner, Inc. has a twelve month low of $411.15 and a twelve month high of $559.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The firm has a market capitalization of $39.96 billion, a P/E ratio of 38.20, a PEG ratio of 3.27 and a beta of 1.32. The firm’s 50-day moving average is $519.61 and its two-hundred day moving average is $479.95.

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