Snowden Capital Advisors LLC Lowers Stake in Gartner, Inc. (NYSE:IT)

Snowden Capital Advisors LLC lessened its stake in shares of Gartner, Inc. (NYSE:IT) by 20.1% during the 4th quarter, Holdings Channel reports. The fund owned 1,573 shares of the information technology services provider’s stock after selling 395 shares during the period. Snowden Capital Advisors LLC’s holdings in Gartner were worth $762,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in IT. Barclays PLC grew its stake in shares of Gartner by 8.6% during the third quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock worth $84,520,000 after acquiring an additional 13,205 shares during the last quarter. JPMorgan Chase & Co. grew 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 purchasing an additional 70,236 shares during the last quarter. Merit Financial Group LLC acquired a new position in Gartner during the 4th quarter valued at approximately $772,000. UMB Bank n.a. raised its holdings in shares of Gartner by 5.9% in the fourth quarter. UMB Bank n.a. now owns 553 shares of the information technology services provider’s stock worth $268,000 after buying an additional 31 shares during the last quarter. Finally, Ballentine Partners LLC raised its holdings in shares of Gartner by 10.8% in the fourth quarter. Ballentine Partners LLC now owns 473 shares of the information technology services provider’s stock worth $229,000 after buying an additional 46 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Stock Up 0.4%

Shares of IT stock opened at $450.03 on Tuesday. Gartner, Inc. has a twelve month low of $366.05 and a twelve month high of $584.01. The stock has a market cap of $34.57 billion, a P/E ratio of 28.07, a P/E/G ratio of 3.30 and a beta of 1.24. The stock has a 50 day moving average of $420.61 and a 200 day moving average of $479.18. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.26. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the company earned $2.93 EPS. The business’s revenue was up 4.2% on a year-over-year basis. As a group, sell-side analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

Wall Street Analysts Forecast Growth

IT has been the topic of a number of research analyst reports. UBS Group boosted their price objective on shares of Gartner from $500.00 to $525.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. The Goldman Sachs Group cut their price objective on Gartner from $622.00 to $535.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Barclays decreased their target price on Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Robert W. Baird cut their price target on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Finally, Wells Fargo & Company decreased their price objective on shares of Gartner from $401.00 to $400.00 and set an “underweight” rating for the company in a research note on Thursday, May 1st. One equities 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. According to MarketBeat, Gartner has an average rating of “Hold” and an average target price of $518.67.

Insider Activity at Gartner

In other Gartner news, EVP William James Wartinbee III sold 538 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $449.09, for a total value of $241,610.42. Following the sale, the executive vice president now directly owns 7,965 shares of the company’s stock, valued at approximately $3,577,001.85. This trade represents a 6.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John J. Rinello sold 109 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $436.35, for a total value of $47,562.15. Following the transaction, the senior vice president now directly owns 3,280 shares of the company’s stock, valued at approximately $1,431,228. The trade was a 3.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,001 shares of company stock worth $2,736,801. 2.30% of the stock is owned by company insiders.

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.