Lake Street Advisors Group LLC Lowers Stock Position in Gartner, Inc. (NYSE:IT)

Lake Street Advisors Group LLC trimmed its stake in Gartner, Inc. (NYSE:IT) by 4.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 603 shares of the information technology services provider’s stock after selling 26 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Gartner were worth $306,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in IT. Vanguard Group Inc. raised its holdings in Gartner by 0.7% in the first quarter. Vanguard Group Inc. now owns 8,974,760 shares of the information technology services provider’s stock worth $4,277,999,000 after purchasing an additional 60,786 shares in the last quarter. Principal Financial Group Inc. boosted its stake in 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 acquiring an additional 341,911 shares in the last quarter. Findlay Park Partners LLP grew its holdings in Gartner by 5.7% in the first quarter. Findlay Park Partners LLP now owns 678,121 shares of the information technology services provider’s stock worth $323,240,000 after purchasing an additional 36,400 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Gartner by 1.3% during the first quarter. Bessemer Group Inc. now owns 609,945 shares of the information technology services provider’s stock worth $290,742,000 after purchasing an additional 7,852 shares in the last quarter. Finally, Sustainable Growth Advisers LP purchased a new stake in shares of Gartner during the 2nd quarter valued at $266,541,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Morgan Stanley upped their target price on Gartner from $490.00 to $528.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. BMO Capital Markets boosted their target price on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. UBS Group raised their price target on shares of Gartner from $510.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Robert W. Baird boosted their price objective on shares of Gartner from $517.00 to $565.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Bank of America raised their target price on Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $532.86.

Insider Activity

In related 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 completion of the transaction, the chief executive officer now owns 1,143,401 shares of the company’s stock, valued at approximately $577,874,865.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Gartner news, CEO Eugene A. Hall sold 34,060 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the completion of the transaction, the chief executive officer now directly owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Claire Herkes sold 478 shares of Gartner stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $506.01, for a total transaction of $241,872.78. Following the completion of the sale, the executive vice president now owns 1,905 shares in the company, valued at approximately $963,949.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,164 shares of company stock worth $32,601,014 in the last ninety days. Company insiders own 3.60% of the company’s stock.

Gartner Trading Down 0.9 %

NYSE IT opened at $513.36 on Friday. Gartner, Inc. has a 1 year low of $323.61 and a 1 year high of $535.29. The company has a debt-to-equity ratio of 3.80, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $39.56 billion, a PE ratio of 48.89, a P/E/G ratio of 3.25 and a beta of 1.32. The company has a fifty day moving average of $505.35 and a 200 day moving average of $469.93.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.20. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.85 EPS. Research analysts forecast that Gartner, Inc. will post 11.65 earnings per share for the current year.

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.