The Manufacturers Life Insurance Company Sells 224 Shares of Gartner, Inc. (NYSE:IT)

The Manufacturers Life Insurance Company trimmed its holdings in shares of Gartner, Inc. (NYSE:IT) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,311 shares of the information technology services provider’s stock after selling 224 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Gartner were worth $22,436,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. raised its position in shares of Gartner by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock valued at $1,014,099,000 after buying an additional 103,814 shares in the last quarter. Barclays PLC raised its position in Gartner by 8.6% during the third quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock valued at $84,520,000 after purchasing an additional 13,205 shares in the last quarter. Virtu Financial LLC bought a new stake in Gartner during the third quarter worth about $1,216,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Gartner in the 3rd quarter worth about $897,000. Finally, Tidal Investments LLC increased its position in shares of Gartner by 9.0% during the 3rd quarter. Tidal Investments LLC now owns 8,824 shares of the information technology services provider’s stock valued at $4,472,000 after purchasing an additional 732 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IT has been the subject of several research reports. Robert W. Baird cut their target price on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Barclays reduced their target price on shares of Gartner from $510.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Morgan Stanley lowered their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. UBS Group cut their price target on shares of Gartner from $565.00 to $500.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. Finally, Wells Fargo & Company lowered their target price on Gartner from $401.00 to $400.00 and set an “underweight” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $513.50.

Insider Activity at Gartner

In other Gartner news, SVP John J. Rinello sold 90 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares in the company, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the transaction, 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. 3.60% of the stock is owned by corporate insiders.

Gartner Trading Up 1.9 %

Shares of IT opened at $427.76 on Friday. The firm’s 50-day moving average price is $429.83 and its 200-day moving average price is $485.71. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $32.86 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 3.30 and a beta of 1.26. Gartner, Inc. has a 1-year low of $366.05 and a 1-year high of $584.01.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $2.23. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.04 EPS. Sell-side analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current year.

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.