Gartner, Inc. (NYSE:IT) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. lessened its holdings in shares of Gartner, Inc. (NYSE:IT) by 20.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,845 shares of the information technology services provider’s stock after selling 8,040 shares during the quarter. Pinebridge Investments L.P.’s holdings in Gartner were worth $14,943,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of IT. Kestra Investment Management LLC acquired a new stake in shares of Gartner in the 4th quarter worth $29,000. SBI Securities Co. Ltd. acquired a new stake in Gartner during the fourth quarter worth about $49,000. Promus Capital LLC purchased a new position in Gartner during the fourth quarter worth about $57,000. Hurley Capital LLC acquired a new position in Gartner in the 4th quarter valued at about $73,000. Finally, Global Retirement Partners LLC grew its stake in shares of Gartner by 14.0% in the 4th quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider’s stock valued at $134,000 after buying an additional 34 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Gartner news, SVP John J. Rinello sold 90 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the sale, the director now owns 1,627 shares of the company’s stock, valued at $796,855.79. This represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Barclays decreased their price objective on Gartner from $510.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. UBS Group cut their price objective on Gartner from $565.00 to $500.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. Morgan Stanley decreased their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Finally, Robert W. Baird dropped their price target on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Gartner has a consensus rating of “Hold” and an average target price of $513.63.

Gartner Stock Performance

Shares of IT stock opened at $407.31 on Thursday. The firm has a 50 day moving average of $441.73 and a two-hundred day moving average of $490.55. The stock has a market capitalization of $31.29 billion, a PE ratio of 25.41, a P/E/G ratio of 3.30 and a beta of 1.26. 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 52 week low of $366.05 and a 52 week high of $584.01.

Gartner (NYSE:IT) last released its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.69 billion. Gartner’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business posted $3.04 earnings per share. On average, research analysts predict that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

About Gartner

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.