Laurus Investment Counsel Inc. Lowers Position in Gartner, Inc. (NYSE:IT)

Laurus Investment Counsel Inc. cut its position in shares of Gartner, Inc. (NYSE:IT) by 6.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 22,710 shares of the information technology services provider’s stock after selling 1,460 shares during the period. Gartner accounts for about 4.9% of Laurus Investment Counsel Inc.’s investment portfolio, making the stock its 9th largest holding. Laurus Investment Counsel Inc.’s holdings in Gartner were worth $10,245,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of IT. OFI Invest Asset Management bought a new stake in shares of Gartner during the third quarter worth $25,000. BKM Wealth Management LLC bought a new stake in shares of Gartner during the fourth quarter worth $26,000. Cornerstone Planning Group LLC bought a new stake in shares of Gartner during the second quarter worth $27,000. VisionPoint Advisory Group LLC lifted its stake in shares of Gartner by 254.2% during the third quarter. VisionPoint Advisory Group LLC now owns 85 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 61 shares during the period. Finally, Resurgent Financial Advisors LLC acquired a new position in shares of Gartner during the fourth quarter valued at $29,000. 91.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Gartner

In related news, EVP Claire Herkes sold 1,460 shares of Gartner 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 legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Claire Herkes sold 1,460 shares of the company’s stock in a transaction 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 in the company, valued at approximately $1,352,109.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Valentin Sribar sold 682 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $453.00, for a total value of $308,946.00. Following the sale, the executive vice president now owns 12,269 shares of the company’s stock, valued at $5,557,857. The disclosure for this sale can be found here. Insiders sold a total of 22,952 shares of company stock worth $10,598,070 over the last ninety days. 3.90% of the stock is currently owned by corporate insiders.

Gartner Stock Up 1.2 %

NYSE:IT opened at $481.12 on Thursday. The company has a debt-to-equity ratio of 3.60, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $37.51 billion, a PE ratio of 43.50, a PEG ratio of 4.34 and a beta of 1.29. Gartner, Inc. has a 52-week low of $292.60 and a 52-week high of $486.54. The stock has a 50-day simple moving average of $464.22 and a 200 day simple moving average of $421.49.

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

Analysts Set New Price Targets

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