Allworth Financial LP Cuts Position in Gartner, Inc. (NYSE:IT)

Allworth Financial LP decreased its holdings in Gartner, Inc. (NYSE:IT) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 532 shares of the information technology services provider’s stock after selling 61 shares during the quarter. Allworth Financial LP’s holdings in Gartner were worth $279,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of IT. State Street Corp increased its position in shares of Gartner by 1.1% in the third quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock valued at $1,650,697,000 after buying an additional 36,258 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Gartner by 1.9% in the third quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider’s stock valued at $1,020,378,000 after buying an additional 36,698 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Gartner by 5.5% in the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock valued at $1,014,099,000 after buying an additional 103,814 shares in the last quarter. JPMorgan Chase & Co. increased 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 buying an additional 70,236 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Gartner by 3.3% in the third quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider’s stock valued at $422,678,000 after buying an additional 25,315 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wells Fargo & Company decreased their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft increased their price objective on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $525.00 to $600.00 in a research note on Friday, January 10th. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. Finally, Robert W. Baird raised their price target on Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $552.63.

Gartner Stock Performance

NYSE IT opened at $487.44 on Friday. The firm has a market capitalization of $37.60 billion, a P/E ratio of 30.41, a P/E/G ratio of 3.38 and a beta of 1.34. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $584.01. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The business’s 50-day simple moving average is $509.42 and its 200-day simple moving average is $509.05.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating the consensus estimate of $3.22 by $2.23. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.04 EPS. Equities analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Activity

In related news, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares in the company, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP William James Wartinbee III sold 189 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $523.54, for a total value of $98,949.06. Following the transaction, the executive vice president now directly owns 7,311 shares in the company, valued at $3,827,600.94. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,690 shares of company stock valued at $2,981,025 in the last three months. Corporate insiders own 3.60% of the company’s stock.

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.