Gartner, Inc. (NYSE:IT) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its holdings in shares of Gartner, Inc. (NYSE:IT) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,535 shares of the information technology services provider’s stock after selling 829 shares during the period. The Manufacturers Life Insurance Company’s holdings in Gartner were worth $23,582,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Eastern Bank bought a new stake in Gartner during the 3rd quarter valued at $26,000. Ashton Thomas Securities LLC acquired a new position in shares of Gartner during the third quarter valued at $44,000. Crewe Advisors LLC raised its stake in shares of Gartner by 223.3% during the second quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock valued at $44,000 after purchasing an additional 67 shares in the last quarter. Fortitude Family Office LLC raised its stake in shares of Gartner by 23.8% during the third quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock valued at $53,000 after purchasing an additional 20 shares in the last quarter. Finally, Asset Dedication LLC lifted its holdings in 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 purchasing an additional 47 shares during the period. 91.51% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Eugene A. Hall sold 34,060 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $505.40, for a total value of $17,213,924.00. Following the transaction, the chief executive officer now owns 1,143,401 shares in the company, valued at $577,874,865.40. This represents a 2.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James C. Smith sold 2,128 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $500.15, for a total transaction of $1,064,319.20. Following the sale, the director now owns 572,090 shares of the company’s stock, valued at approximately $286,130,813.50. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,149 shares of company stock worth $37,694,911 over the last 90 days. 3.60% of the stock is owned by company insiders.

Gartner Stock Performance

Shares of NYSE IT opened at $517.93 on Friday. The stock’s fifty day simple moving average is $521.01 and its 200 day simple moving average is $483.66. The stock has a market capitalization of $39.95 billion, a price-to-earnings ratio of 38.18, a PEG ratio of 3.24 and a beta of 1.32. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.31. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $559.00.

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, beating analysts’ consensus estimates of $2.45 by $0.05. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the company posted $2.56 EPS. Gartner’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, sell-side analysts forecast that Gartner, Inc. will post 11.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

IT has been the topic of several research analyst reports. Wells Fargo & Company raised their target price on shares of Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Barclays upped their target price on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Robert W. Baird boosted 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. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Gartner 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.