Tectonic Advisors LLC Lowers Position in Gartner, Inc. (NYSE:IT)

Tectonic Advisors LLC lowered its stake in shares of Gartner, Inc. (NYSE:IT) by 33.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 609 shares of the information technology services provider’s stock after selling 308 shares during the period. Tectonic Advisors LLC’s holdings in Gartner were worth $295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its position in Gartner by 1.1% in the third quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock valued at $1,650,697,000 after purchasing an additional 36,258 shares during the period. Geode Capital Management LLC grew its stake in shares of Gartner by 1.9% in the third quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider’s stock valued at $1,020,378,000 after buying an additional 36,698 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Gartner by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock valued at $1,014,099,000 after buying an additional 103,814 shares during the period. JPMorgan Chase & Co. lifted its position in Gartner by 7.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock worth $525,272,000 after acquiring an additional 70,236 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Gartner by 3.3% in the 3rd quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider’s stock worth $422,678,000 after acquiring an additional 25,315 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Claire Herkes sold 411 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $521.24, for a total value of $214,229.64. Following the sale, the executive vice president now owns 1,494 shares of the company’s stock, valued at $778,732.56. This trade represents a 21.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William James Wartinbee III sold 189 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $523.54, for a total transaction of $98,949.06. Following the completion of the transaction, the executive vice president now owns 7,311 shares of the company’s stock, valued at approximately $3,827,600.94. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,050 shares of company stock valued at $4,292,245 over the last quarter. Insiders own 3.60% of the company’s stock.

Gartner Price Performance

Shares of IT opened at $534.12 on Friday. 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 firm has a market cap of $41.20 billion, a price-to-earnings ratio of 39.39, a PEG ratio of 3.37 and a beta of 1.34. Gartner, Inc. has a 52 week low of $411.15 and a 52 week high of $584.01. The stock has a 50 day moving average of $509.71 and a 200-day moving average of $506.06.

Gartner (NYSE:IT) last released its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, beating the consensus estimate of $3.22 by $2.23. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the previous year, the firm earned $3.04 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, analysts forecast that Gartner, Inc. will post 11.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on IT shares. StockNews.com cut shares of Gartner from a “buy” rating to a “hold” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Robert W. Baird lifted their target price on Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $525.00 to $600.00 in a report on Friday, January 10th. Finally, Morgan Stanley dropped their price objective on Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Gartner presently has a consensus rating of “Hold” and a consensus target price of $552.63.

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.