Gartner, Inc. (NYSE:IT) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. cut its holdings in shares of Gartner, Inc. (NYSE:IT) by 6.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,846 shares of the information technology services provider’s stock after selling 4,062 shares during the period. Ameriprise Financial Inc. owned about 0.07% of Gartner worth $26,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IT. Vanguard Group Inc. lifted its holdings in shares of Gartner by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 9,268,639 shares of the information technology services provider’s stock valued at $4,490,378,000 after buying an additional 100,917 shares during the period. FMR LLC raised its position in Gartner by 8.6% during the fourth quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider’s stock valued at $1,367,233,000 after acquiring an additional 223,087 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Gartner by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 2,063,577 shares of the information technology services provider’s stock valued at $998,400,000 after acquiring an additional 45,219 shares during the period. Principal Financial Group Inc. boosted its position in Gartner by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider’s stock worth $975,141,000 after purchasing an additional 11,657 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Gartner by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 1,662,005 shares of the information technology services provider’s stock worth $805,192,000 after purchasing an additional 187,854 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of Gartner from $401.00 to $400.00 and set an “underweight” rating for the company in a research note on Thursday, May 1st. The Goldman Sachs Group lowered their target price on shares of Gartner from $622.00 to $535.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Barclays cut their price target on Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. StockNews.com downgraded Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Finally, Robert W. Baird cut their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $518.67.

Insiders Place Their Bets

In related news, Director Eileen Serra sold 1,200 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the sale, the director now owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. This represents a 42.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP John J. Rinello sold 109 shares of Gartner stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $436.35, for a total transaction of $47,562.15. Following the transaction, the senior vice president now directly owns 3,280 shares in the company, valued at $1,431,228. This trade represents a 3.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,048 shares of company stock valued at $957,860 in the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

Gartner Stock Performance

Shares of NYSE:IT opened at $448.85 on Wednesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. Gartner, Inc. has a 1 year low of $366.05 and a 1 year high of $584.01. The firm has a market capitalization of $34.48 billion, a PE ratio of 28.00, a P/E/G ratio of 3.30 and a beta of 1.24. The business’s 50 day moving average price is $422.40 and its 200-day moving average price is $481.18.

Gartner (NYSE:IT) last released its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.26. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.93 earnings per share. As a group, equities research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal 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.