Gartner, Inc. (NYSE:IT) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC lessened its stake in Gartner, Inc. (NYSE:IT) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,430 shares of the information technology services provider’s stock after selling 163 shares during the quarter. Procyon Advisors LLC’s holdings in Gartner were worth $1,096,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IT. Fox Run Management L.L.C. acquired a new stake in Gartner during the third quarter worth $230,000. Chapin Davis Inc. acquired a new stake in Gartner during the fourth quarter worth $960,000. Stifel Financial Corp boosted its position in shares of Gartner by 32.6% during the third quarter. Stifel Financial Corp now owns 33,817 shares of the information technology services provider’s stock worth $11,620,000 after buying an additional 8,319 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Gartner by 60.7% during the third quarter. Envestnet Asset Management Inc. now owns 323,573 shares of the information technology services provider’s stock worth $111,183,000 after buying an additional 122,248 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Gartner during the fourth quarter worth $13,934,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Stock Up 0.2 %

Shares of NYSE:IT traded up $0.94 on Thursday, hitting $481.78. 28,113 shares of the company’s stock were exchanged, compared to its average volume of 395,517. The firm’s 50-day moving average is $464.22 and its 200 day moving average is $421.49. The company has a market capitalization of $37.56 billion, a PE ratio of 43.50, a P/E/G ratio of 4.34 and a beta of 1.29. Gartner, Inc. has a 1-year low of $292.60 and a 1-year high of $486.54. The company has a debt-to-equity ratio of 3.60, a quick ratio of 0.91 and a current ratio of 0.91.

Gartner (NYSE:IT) last released its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.21. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.70 EPS. Sell-side analysts predict that Gartner, Inc. will post 11.36 EPS for the current year.

Insider Activity

In other news, EVP Claire Herkes sold 1,460 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $475.76, for a total value of $694,609.60. Following the completion of the sale, the executive vice president now directly owns 2,842 shares of the company’s stock, valued at approximately $1,352,109.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Gartner news, EVP Claire Herkes sold 1,460 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $475.76, for a total transaction of $694,609.60. Following the completion of the sale, the executive vice president now directly owns 2,842 shares of the company’s stock, valued at approximately $1,352,109.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Akhil Jain sold 250 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $464.55, for a total value of $116,137.50. Following the sale, the executive vice president now directly owns 5,239 shares of the company’s stock, valued at $2,433,777.45. The disclosure for this sale can be found here. In the last three months, insiders sold 22,952 shares of company stock valued at $10,598,070. Insiders own 3.90% of the company’s stock.

Analyst Upgrades and Downgrades

IT has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on Gartner from $380.00 to $435.00 and gave the stock an “overweight” rating in a research report on Friday, December 15th. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Morgan Stanley raised their price target on Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. UBS Group boosted their target price on Gartner from $412.00 to $490.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 6th. Finally, BMO Capital Markets boosted their target price on Gartner from $444.00 to $450.00 and gave the stock a “market perform” rating in a research note on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $455.25.

About Gartner

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.