Salvus Wealth Management LLC Lowers Position in Gartner, Inc. (NYSE:IT)

Salvus Wealth Management LLC trimmed its position in shares of Gartner, Inc. (NYSE:IT) by 24.4% during the first quarter, HoldingsChannel reports. The fund owned 502 shares of the information technology services provider’s stock after selling 162 shares during the quarter. Salvus Wealth Management LLC’s holdings in Gartner were worth $211,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Gartner by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 9,268,639 shares of the information technology services provider’s stock worth $4,490,378,000 after buying an additional 100,917 shares in the last quarter. FMR LLC lifted its position in shares of Gartner by 8.6% during the 4th quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider’s stock valued at $1,367,233,000 after acquiring an additional 223,087 shares during the period. Geode Capital Management LLC boosted its stake in shares of Gartner by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 2,063,577 shares of the information technology services provider’s stock worth $998,400,000 after acquiring an additional 45,219 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Gartner by 0.6% during the 4th quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider’s stock worth $975,141,000 after acquiring an additional 11,657 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Gartner by 12.7% in the 4th quarter. Wellington Management Group LLP now owns 1,662,005 shares of the information technology services provider’s stock worth $805,192,000 after acquiring an additional 187,854 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Stock Performance

NYSE IT opened at $425.50 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. Gartner, Inc. has a fifty-two week low of $366.05 and a fifty-two week high of $584.01. The business has a fifty day moving average of $420.96 and a 200-day moving average of $471.86. The stock has a market cap of $32.75 billion, a price-to-earnings ratio of 26.54, a price-to-earnings-growth ratio of 3.30 and a beta of 1.24.

Gartner (NYSE:IT) last posted 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. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.93 EPS. As a group, analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on IT. Barclays reduced their price objective on Gartner from $510.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Wells Fargo & Company dropped their price target on Gartner from $401.00 to $400.00 and set an “underweight” rating for the company in a research report on Thursday, May 1st. Robert W. Baird cut their price target on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Wall Street Zen lowered shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Finally, UBS Group increased their price objective on shares of Gartner from $500.00 to $525.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $518.67.

Insider Transactions at Gartner

In other Gartner news, EVP Akhil Jain sold 625 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $450.00, for a total transaction of $281,250.00. Following the transaction, the executive vice president now owns 6,548 shares of the company’s stock, valued at $2,946,600. This represents a 8.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP William James Wartinbee III sold 538 shares of the firm’s stock in a transaction 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 owns 7,965 shares in the company, valued at $3,577,001.85. This trade represents a 6.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,426 shares of company stock worth $2,430,327 over the last ninety days. 2.30% of the stock is currently 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.