Gartner, Inc. (NYSE:IT) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its position in shares of Gartner, Inc. (NYSE:IT) by 44.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 150,121 shares of the information technology services provider’s stock after selling 122,146 shares during the period. Assenagon Asset Management S.A. owned 0.20% of Gartner worth $63,012,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cary Street Partners Financial LLC acquired a new stake in shares of Gartner in the fourth quarter valued at about $27,000. Kestra Investment Management LLC purchased a new position in Gartner in the 4th quarter valued at about $29,000. Itau Unibanco Holding S.A. boosted its holdings in Gartner by 453.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider’s stock worth $40,000 after buying an additional 68 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Gartner in the 4th quarter worth about $49,000. Finally, Promus Capital LLC purchased a new stake in Gartner during the 4th quarter worth approximately $57,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Stock Down 2.2%

Shares of NYSE:IT opened at $413.37 on Thursday. Gartner, Inc. has a 52-week low of $366.05 and a 52-week high of $584.01. The stock has a market cap of $31.82 billion, a P/E ratio of 25.79, a PEG ratio of 3.30 and a beta of 1.23. The business has a fifty day moving average of $422.07 and a two-hundred day moving average of $468.45. 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 (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 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 firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the firm posted $2.93 earnings per share. Gartner’s quarterly revenue was up 4.2% on a year-over-year basis. On average, research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Barclays decreased their target price on Gartner from $510.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Robert W. Baird reduced their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. The Goldman Sachs Group decreased 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. Wall Street Zen cut shares of Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Finally, UBS Group increased their target price on shares of Gartner from $500.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $518.67.

Insider Activity

In related news, EVP William James Wartinbee III sold 538 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $449.09, for a total transaction of $241,610.42. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John J. Rinello sold 109 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total transaction of $47,562.15. Following the completion of the transaction, the senior vice president now directly owns 3,280 shares in the company, valued at $1,431,228. The trade was a 3.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,426 shares of company stock valued at $2,430,327 in the last 90 days. Company insiders own 3.60% of the company’s stock.

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.