Independent Advisor Alliance Sells 146 Shares of Gartner, Inc. (NYSE:IT)

Independent Advisor Alliance reduced its holdings in shares of Gartner, Inc. (NYSE:IT) by 14.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 852 shares of the information technology services provider’s stock after selling 146 shares during the quarter. Independent Advisor Alliance’s holdings in Gartner were worth $432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of IT. Eastern Bank purchased a new stake in Gartner in the third quarter worth approximately $26,000. Ashton Thomas Securities LLC bought a new position in shares of Gartner during the 3rd quarter valued at $44,000. Crewe Advisors LLC lifted 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 valued at $44,000 after buying an additional 67 shares during the period. Fortitude Family Office LLC boosted its stake in shares of Gartner by 23.8% in the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after buying an additional 20 shares during the last quarter. Finally, Asset Dedication LLC grew its holdings in shares of Gartner by 46.5% in the third quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock worth $75,000 after acquiring an additional 47 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Stock Down 0.7 %

Shares of IT stock opened at $519.23 on Friday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. Gartner, Inc. has a one year low of $411.15 and a one year high of $559.00. The company’s fifty day moving average price is $520.81 and its 200-day moving average price is $482.87. The company has a market capitalization of $40.05 billion, a price-to-earnings ratio of 38.29, a PEG ratio of 3.24 and a beta of 1.32.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating 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 business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $2.56 earnings per share. Sell-side analysts expect that Gartner, Inc. will post 11.89 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Claire Herkes sold 478 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $506.01, for a total transaction of $241,872.78. Following the completion of the transaction, the executive vice president now owns 1,905 shares in the company, valued at $963,949.05. This trade represents a 20.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James C. Smith sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $524.02, for a total value of $2,620,100.00. Following the completion of the sale, the director now owns 509,457 shares in the company, valued at $266,965,657.14. This represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,149 shares of company stock valued at $37,694,911. Corporate insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wells Fargo & Company raised their target price on Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Morgan Stanley increased their price target on shares of Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Barclays lifted their price target on shares of Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Robert W. Baird upped their price objective on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $539.25.

Gartner 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.