Avitas Wealth Management LLC Sells 144 Shares of Gartner, Inc. (NYSE:IT)

by · The Markets Daily

Avitas Wealth Management LLC trimmed its position in shares of Gartner, Inc. (NYSE:IT – Free Report) by 7.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,847 shares of the information technology services provider’s stock after selling 144 shares during the period. Avitas Wealth Management LLC’s holdings in Gartner were worth $936,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in shares of Gartner by 11.4% in the 1st quarter. Russell Investments Group Ltd. now owns 25,063 shares of the information technology services provider’s stock valued at $11,987,000 after buying an additional 2,560 shares in the last quarter. Transcend Capital Advisors LLC acquired a new position in Gartner in the second quarter worth about $512,000. Tidal Investments LLC raised its position in Gartner by 24.4% in the first quarter. Tidal Investments LLC now owns 9,890 shares of the information technology services provider’s stock worth $4,717,000 after purchasing an additional 1,940 shares in the last quarter. Findlay Park Partners LLP raised its position in Gartner by 5.7% in the first quarter. Findlay Park Partners LLP now owns 678,121 shares of the information technology services provider’s stock worth $323,240,000 after purchasing an additional 36,400 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new position in Gartner in the first quarter worth about $1,049,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Stock Down 0.1 %

Shares of NYSE IT opened at $517.95 on Thursday. The firm has a market capitalization of $40.21 billion, a PE ratio of 51.54, a price-to-earnings-growth ratio of 3.25 and a beta of 1.32. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.80. Gartner, Inc. has a 1 year low of $329.20 and a 1 year high of $535.29. The firm’s 50-day moving average is $506.64 and its 200-day moving average is $470.63.

Gartner (NYSE:IT – Get Free Report) last issued its earnings results on Tuesday, July 30th. The information technology services provider reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.20. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Gartner had a net margin of 13.67% and a return on equity of 142.05%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.85 EPS. Equities analysts expect that Gartner, Inc. will post 11.65 EPS for the current year.

Analysts Set New Price Targets

IT has been the subject of several recent research reports. BMO Capital Markets increased their price target on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Bank of America increased their price target on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Wells Fargo & Company raised their price objective on shares of Gartner from $435.00 to $460.00 and gave the stock an “underweight” rating in a report on Monday, October 14th. Finally, Robert W. Baird raised their price objective on shares of Gartner from $517.00 to $565.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $532.86.

Get Our Latest Stock Analysis on IT

Insider Activity at Gartner

In related news, EVP Akhil Jain sold 400 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $485.00, for a total value of $194,000.00. Following the sale, the executive vice president now directly owns 4,839 shares in the company, valued at $2,346,915. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Akhil Jain sold 400 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $485.00, for a total value of $194,000.00. Following the sale, the executive vice president now directly owns 4,839 shares in the company, valued at $2,346,915. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Eugene A. Hall sold 34,060 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the completion of the sale, the chief executive officer now owns 1,143,401 shares in the company, valued at $577,874,865.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,582 shares of company stock worth $25,743,407 in the last ninety days. Company insiders own 3.60% of the company’s stock.

Gartner Profile

(Free Report)

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.

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