Vontobel Holding Ltd. Lowers Holdings in Gartner, Inc. (NYSE:IT)

Vontobel Holding Ltd. trimmed its holdings in Gartner, Inc. (NYSE:IT) by 14.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,665 shares of the information technology services provider’s stock after selling 1,427 shares during the quarter. Vontobel Holding Ltd.’s holdings in Gartner were worth $3,637,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Smith Salley Wealth Management grew its position in shares of Gartner by 5.2% during the first quarter. Smith Salley Wealth Management now owns 5,524 shares of the information technology services provider’s stock valued at $2,319,000 after purchasing an additional 272 shares in the last quarter. Kendall Capital Management boosted its stake in Gartner by 3.8% during the first quarter. Kendall Capital Management now owns 7,696 shares of the information technology services provider’s stock valued at $3,230,000 after buying an additional 283 shares during the last quarter. Amalgamated Bank boosted its stake in Gartner by 2.3% during the first quarter. Amalgamated Bank now owns 16,503 shares of the information technology services provider’s stock valued at $6,927,000 after buying an additional 373 shares during the last quarter. KBC Group NV grew its holdings in Gartner by 138.8% during the 1st quarter. KBC Group NV now owns 36,073 shares of the information technology services provider’s stock valued at $15,141,000 after buying an additional 20,964 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in Gartner by 1.0% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 183,632 shares of the information technology services provider’s stock worth $77,078,000 after acquiring an additional 1,750 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Trading Up 1.2%

IT stock opened at $400.28 on Friday. Gartner, Inc. has a twelve month low of $366.05 and a twelve month high of $584.01. The stock has a market capitalization of $30.81 billion, a price-to-earnings ratio of 24.91, a price-to-earnings-growth ratio of 2.56 and a beta of 1.19. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.64. The firm’s fifty day simple moving average is $423.32 and its two-hundred day simple moving average is $455.89.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, beating the consensus estimate of $2.72 by $0.26. Gartner had a net margin of 19.82% and a return on equity of 96.70%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the firm posted $2.93 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. As a group, analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports 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, April 21st. Robert W. Baird decreased their price target on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. The Goldman Sachs Group dropped their price objective on shares of Gartner from $622.00 to $535.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. UBS Group reduced their target price on shares of Gartner from $525.00 to $500.00 and set a “buy” rating on the stock in a report on Wednesday, June 18th. Finally, Wells Fargo & Company decreased their target price on shares of Gartner from $401.00 to $400.00 and set an “underweight” rating on the stock in a research report 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 stock. According to MarketBeat, Gartner currently has an average rating of “Hold” and an average price target of $515.89.

Insider Buying and Selling at Gartner

In other Gartner news, EVP Akhil Jain sold 625 shares of the company’s stock in a transaction on 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 owned 6,548 shares of the company’s stock, valued at $2,946,600. This represents a 8.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Craig Safian sold 3,415 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $450.17, for a total value of $1,537,330.55. Following the completion of the sale, the chief financial officer owned 77,890 shares in the company, valued at approximately $35,063,741.30. The trade was a 4.20% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,426 shares of company stock valued at $2,430,327. 2.30% of the stock is owned by company insiders.

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.