MetLife Investment Management LLC Sells 722 Shares of Gartner, Inc. (NYSE:IT)

MetLife Investment Management LLC lessened its stake in shares of Gartner, Inc. (NYSE:IT) by 3.0% in the third quarter, Holdings Channel reports. The institutional investor owned 23,440 shares of the information technology services provider’s stock after selling 722 shares during the quarter. MetLife Investment Management LLC’s holdings in Gartner were worth $11,878,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. boosted its stake in Gartner by 20.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 593 shares of the information technology services provider’s stock valued at $283,000 after buying an additional 102 shares during the period. Swedbank AB bought a new stake in shares of Gartner during the 1st quarter valued at about $30,735,000. Cetera Investment Advisers boosted its position in shares of Gartner by 245.0% during the 1st quarter. Cetera Investment Advisers now owns 21,453 shares of the information technology services provider’s stock valued at $10,226,000 after acquiring an additional 15,235 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of Gartner by 81.0% during the first quarter. Cetera Advisors LLC now owns 5,426 shares of the information technology services provider’s stock worth $2,586,000 after purchasing an additional 2,428 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Gartner by 26.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 128,799 shares of the information technology services provider’s stock worth $61,634,000 after purchasing an additional 27,325 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Gartner Price Performance

Shares of Gartner stock opened at $519.23 on Friday. The stock has a market capitalization of $40.05 billion, a P/E ratio of 38.29, a price-to-earnings-growth ratio of 3.24 and a beta of 1.32. Gartner, Inc. has a one year low of $411.15 and a one year high of $559.00. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.02 and a quick ratio of 1.02. The business’s 50 day simple moving average is $520.81 and its two-hundred day simple moving average is $482.87.

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, beating analysts’ consensus estimates of $2.45 by $0.05. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the business posted $2.56 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. Analysts forecast that Gartner, Inc. will post 11.89 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on IT. Morgan Stanley boosted their price target on shares of Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Wells Fargo & Company raised their price target on 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 increased their price objective on Gartner from $565.00 to $590.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, Barclays boosted their target price on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $539.25.

Insider Buying and Selling

In other Gartner news, Director James C. Smith sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $524.02, for a total transaction of $2,620,100.00. Following the transaction, the director now directly owns 509,457 shares of the company’s stock, valued at approximately $266,965,657.14. The trade was a 0.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Akhil Jain sold 500 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $492.00, for a total transaction of $246,000.00. Following the completion of the transaction, the executive vice president now owns 4,339 shares of the company’s stock, valued at $2,134,788. This trade represents a 10.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,149 shares of company stock valued at $37,694,911 over the last ninety days. 3.60% of the stock is owned by insiders.

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.