Empirical Finance LLC Sells 28 Shares of Gartner, Inc. (NYSE:IT)

Empirical Finance LLC cut its holdings in Gartner, Inc. (NYSE:IT) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,710 shares of the information technology services provider’s stock after selling 28 shares during the quarter. Empirical Finance LLC’s holdings in Gartner were worth $1,313,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Eastern Bank bought a new stake in Gartner in the third quarter worth $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Gartner in the third quarter worth about $44,000. True Wealth Design LLC boosted its stake in shares of Gartner by 2,350.0% during the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after acquiring an additional 94 shares in the last quarter. Fortitude Family Office LLC boosted its stake in shares of Gartner by 23.8% during the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after acquiring an additional 20 shares in the last quarter. Finally, Asset Dedication LLC increased its holdings in shares of Gartner by 46.5% during the 3rd quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock valued at $75,000 after acquiring an additional 47 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Gartner Stock Performance

NYSE:IT opened at $528.93 on Monday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. The firm’s 50-day moving average is $509.93 and its 200-day moving average is $507.08. Gartner, Inc. has a 52-week low of $411.15 and a 52-week high of $584.01. The company has a market cap of $40.80 billion, a price-to-earnings ratio of 33.00, a PEG ratio of 3.50 and a beta of 1.34.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $2.23. Gartner had a return on equity of 136.32% and a net margin of 20.00%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the company posted $3.04 earnings per share. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current year.

Insider Activity at Gartner

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 completion of the transaction, the executive vice president now owns 1,494 shares of the company’s stock, valued at $778,732.56. This represents a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP William James Wartinbee III sold 189 shares of Gartner stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $523.54, for a total value of $98,949.06. Following the sale, the executive vice president now directly owns 7,311 shares in the company, valued at $3,827,600.94. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,600 shares of company stock worth $2,933,279. 3.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IT. Robert W. Baird upped their target price on Gartner from $579.00 to $605.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Morgan Stanley dropped their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $525.00 to $600.00 in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.