Cynosure Group LLC Sells 3,226 Shares of Gartner, Inc. (NYSE:IT)

Cynosure Group LLC trimmed its holdings in shares of Gartner, Inc. (NYSE:IT) by 80.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 784 shares of the information technology services provider’s stock after selling 3,226 shares during the period. Cynosure Group LLC’s holdings in Gartner were worth $397,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of IT. Sustainable Growth Advisers LP bought a new stake in Gartner in the second quarter valued at $266,541,000. Principal Financial Group Inc. boosted its holdings in Gartner by 22.0% in the second quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock worth $852,014,000 after acquiring an additional 341,911 shares in the last quarter. Natixis Advisors LLC grew its stake in Gartner by 117.4% in the second quarter. Natixis Advisors LLC now owns 200,097 shares of the information technology services provider’s stock valued at $89,856,000 after acquiring an additional 108,061 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Gartner during the third quarter valued at approximately $36,789,000. Finally, Swedbank AB bought a new stake in shares of Gartner during the first quarter valued at approximately $30,735,000. Institutional investors own 91.51% of the company’s stock.

Gartner Stock Down 0.7 %

IT opened at $519.23 on Thursday. Gartner, Inc. has a 12 month low of $411.15 and a 12 month high of $559.00. The company has a market cap of $40.05 billion, a PE ratio of 38.29, a price-to-earnings-growth ratio of 3.24 and a beta of 1.32. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.31. The company has a 50 day moving average of $520.55 and a 200 day moving average of $482.61.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 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 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts expect that Gartner, Inc. will post 11.89 EPS for the current year.

Insider Buying and Selling at Gartner

In other news, EVP Claire Herkes sold 478 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $506.01, for a total transaction of $241,872.78. Following the completion of the transaction, the executive vice president now directly owns 1,905 shares in the company, valued at $963,949.05. The trade was a 20.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James C. Smith sold 2,450 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $554.68, for a total value of $1,358,966.00. Following the transaction, the director now owns 529,844 shares of the company’s stock, valued at approximately $293,893,869.92. The trade was a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,149 shares of company stock valued at $37,694,911 in the last quarter. 3.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Robert W. Baird lifted their target price on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Barclays increased their price target on Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Morgan Stanley lifted their price objective on shares of Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, StockNews.com upgraded shares of Gartner from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Gartner presently has a consensus rating of “Hold” and a consensus target price of $539.25.

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.