CENTRAL TRUST Co Lowers Position in Gartner, Inc. (NYSE:IT)

CENTRAL TRUST Co trimmed its position in shares of Gartner, Inc. (NYSE:IT) by 8.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 350 shares of the information technology services provider’s stock after selling 32 shares during the quarter. CENTRAL TRUST Co’s holdings in Gartner were worth $147,000 at the end of the most recent quarter.

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

Gartner Trading Down 1.4%

Gartner stock opened at $398.91 on Friday. Gartner, Inc. has a one year low of $366.05 and a one year high of $584.01. The business’s fifty day moving average is $423.91 and its 200 day moving average is $463.72. The stock has a market capitalization of $30.70 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 2.59 and a beta of 1.23. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.09 and a quick ratio of 1.09.

Gartner (NYSE:IT) last announced its quarterly earnings results 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 19.82% and a return on equity of 96.70%. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the firm posted $2.93 EPS. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, sell-side analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

Insiders Place Their Bets

In other Gartner news, EVP Akhil Jain sold 625 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $450.00, for a total value of $281,250.00. Following the transaction, the executive vice president now owns 6,548 shares of the company’s stock, valued at approximately $2,946,600. This represents a 8.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Craig Safian sold 3,415 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $450.17, for a total value of $1,537,330.55. Following the sale, the chief financial officer now owns 77,890 shares of the company’s stock, valued at approximately $35,063,741.30. This represents a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,426 shares of company stock valued at $2,430,327. Company insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

IT has been the topic of a number of analyst reports. The Goldman Sachs Group dropped their price target on Gartner from $622.00 to $535.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Barclays cut their target price on Gartner from $510.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. UBS Group lowered their price target on Gartner from $525.00 to $500.00 and set a “buy” rating for the company in a research report on Wednesday. Wall Street Zen cut shares of Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Finally, Wells Fargo & Company reduced their price objective on shares of Gartner from $401.00 to $400.00 and set an “underweight” rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $515.89.

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.