Gartner, Inc. (NYSE:IT) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC trimmed its position in shares of Gartner, Inc. (NYSE:IT) by 12.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 529 shares of the information technology services provider’s stock after selling 78 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Gartner were worth $222,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Sompo Asset Management Co. Ltd. increased its stake in shares of Gartner by 1.7% during the fourth quarter. Sompo Asset Management Co. Ltd. now owns 1,210 shares of the information technology services provider’s stock worth $586,000 after acquiring an additional 20 shares during the period. Parallel Advisors LLC grew its position in Gartner by 2.9% during the fourth quarter. Parallel Advisors LLC now owns 737 shares of the information technology services provider’s stock worth $357,000 after buying an additional 21 shares during the period. Cornerstone Advisory LLC grew its position in Gartner by 0.8% during the fourth quarter. Cornerstone Advisory LLC now owns 2,803 shares of the information technology services provider’s stock worth $1,443,000 after buying an additional 21 shares during the period. TD Waterhouse Canada Inc. grew its position in Gartner by 3.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 758 shares of the information technology services provider’s stock worth $367,000 after buying an additional 23 shares during the period. Finally, Connecticut Wealth Management LLC grew its position in Gartner by 0.6% during the fourth quarter. Connecticut Wealth Management LLC now owns 4,604 shares of the information technology services provider’s stock worth $2,230,000 after buying an additional 26 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Stock Down 3.5%

IT stock opened at $374.19 on Friday. The company’s 50 day simple moving average is $419.94 and its 200-day simple moving average is $451.67. The firm has a market capitalization of $28.80 billion, a PE ratio of 23.29, a P/E/G ratio of 2.43 and a beta of 1.19. Gartner, Inc. has a 12 month low of $366.05 and a 12 month high of $584.01. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.09 and a quick ratio of 1.09.

Gartner (NYSE:IT) last announced its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.26. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Gartner had a net margin of 19.82% and a return on equity of 96.70%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.93 earnings per share. Equities analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Robert W. Baird lowered their target price on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. UBS Group lowered their target price on shares of Gartner from $525.00 to $500.00 and set a “buy” rating on the stock in a research report on Wednesday, June 18th. Barclays lowered their target price on shares of Gartner from $510.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Finally, The Goldman Sachs Group lowered their price target on shares of Gartner from $622.00 to $535.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Gartner currently has a consensus rating of “Hold” and a consensus target price of $515.89.

Insider Buying and Selling at Gartner

In related news, EVP Robin B. Kranich sold 739 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $436.50, for a total transaction of $322,573.50. Following the transaction, the executive vice president owned 20,464 shares of the company’s stock, valued at approximately $8,932,536. This represents a 3.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William James Wartinbee III sold 538 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $449.09, for a total transaction of $241,610.42. Following the transaction, the executive vice president directly owned 7,965 shares in the company, valued at $3,577,001.85. The trade was a 6.33% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,426 shares of company stock valued at $2,430,327. 2.30% of the stock is owned by corporate 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.