Chevy Chase Trust Holdings LLC Sells 1,066 Shares of Gartner, Inc. (NYSE:IT)

Chevy Chase Trust Holdings LLC lowered its stake in Gartner, Inc. (NYSE:IT) by 2.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 41,318 shares of the information technology services provider’s stock after selling 1,066 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Gartner were worth $20,938,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Eastern Bank purchased a new stake in shares of Gartner during the third quarter worth about $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of Gartner during the third quarter worth about $44,000. Crewe Advisors LLC grew its position 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 worth $44,000 after purchasing an additional 67 shares in the last quarter. True Wealth Design LLC grew its position in shares of Gartner by 2,350.0% during the third quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after purchasing an additional 94 shares in the last quarter. Finally, Fortitude Family Office LLC grew its position 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 worth $53,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Gartner Price Performance

Shares of Gartner stock opened at $515.56 on Wednesday. The stock has a market cap of $39.77 billion, a price-to-earnings ratio of 38.02, a price-to-earnings-growth ratio of 3.23 and a beta of 1.31. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50 day moving average price of $521.12 and a 200-day moving average price of $485.23. Gartner, Inc. has a one year low of $411.15 and a one year high of $559.00.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company earned $2.56 EPS. Gartner’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities analysts expect that Gartner, Inc. will post 11.89 EPS for the current year.

Wall Street Analyst Weigh In

IT has been the subject of several research analyst reports. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Robert W. Baird increased their target price on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft raised their price target on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Barclays raised their price target on Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company raised their price target on Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. One investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $539.25.

Insider Buying and Selling

In related news, EVP Akhil Jain sold 500 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $492.00, for a total transaction of $246,000.00. Following the completion of the sale, the executive vice president now directly owns 4,339 shares of the company’s stock, valued at approximately $2,134,788. This trade represents a 10.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $1,064,319.20. Following the sale, the director now directly owns 572,090 shares of the company’s stock, valued at $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. In the last three months, insiders sold 72,560 shares of company stock valued at $37,909,141. Insiders own 3.60% of the company’s stock.

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.