Douglas Lane & Associates LLC Decreases Stake in Gartner, Inc. (NYSE:IT)

Douglas Lane & Associates LLC cut its holdings in shares of Gartner, Inc. (NYSE:IT) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,728 shares of the information technology services provider’s stock after selling 248 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Gartner were worth $3,744,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IT. Sustainable Growth Advisers LP purchased a new stake in shares of Gartner during the 2nd quarter valued at approximately $266,541,000. Point72 Asset Management L.P. bought a new stake in Gartner during the 3rd quarter valued at $70,955,000. Principal Financial Group Inc. lifted its position in shares of Gartner by 5.5% during the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock worth $1,014,099,000 after acquiring an additional 103,814 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Gartner in the third quarter worth $36,789,000. Finally, JPMorgan Chase & Co. grew its position in shares of Gartner by 7.3% in the third quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock valued at $525,272,000 after purchasing an additional 70,236 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on IT. Robert W. Baird increased their price objective on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Barclays increased their price target on shares of Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company upped their target price on shares of Gartner from $460.00 to $470.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Gartner presently has a consensus rating of “Hold” and an average price target of $543.75.

Insider Buying and Selling

In other Gartner news, EVP William James Wartinbee III sold 189 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $523.54, for a total value of $98,949.06. Following the completion of the sale, the executive vice president now directly owns 7,311 shares of the company’s stock, valued at $3,827,600.94. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Claire Herkes sold 411 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total transaction of $214,229.64. Following the sale, the executive vice president now owns 1,494 shares of the company’s stock, valued at approximately $778,732.56. The trade was a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,583 shares of company stock worth $19,241,974 in the last quarter. 3.60% of the stock is owned by insiders.

Gartner Price Performance

Shares of NYSE:IT opened at $494.49 on Thursday. The company’s fifty day moving average price is $510.68 and its 200-day moving average price is $495.70. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $38.14 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 3.18 and a beta of 1.33. Gartner, Inc. has a one year low of $411.15 and a one year high of $559.00.

Gartner (NYSE:IT) last released its 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. Gartner had a return on equity of 118.27% and a net margin of 17.33%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the firm earned $2.56 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. On average, equities research analysts anticipate that Gartner, Inc. will post 11.87 earnings per share for the current fiscal year.

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.