Nuveen Asset Management LLC Decreases Stake in Gartner, Inc. (NYSE:IT)

Nuveen Asset Management LLC lowered its position in shares of Gartner, Inc. (NYSE:IT) by 4.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 281,383 shares of the information technology services provider’s stock after selling 13,598 shares during the quarter. Nuveen Asset Management LLC owned about 0.36% of Gartner worth $136,321,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of IT. Barclays PLC boosted its holdings in Gartner by 8.6% in the 3rd quarter. Barclays PLC now owns 166,787 shares of the information technology services provider’s stock worth $84,520,000 after acquiring an additional 13,205 shares during the period. JPMorgan Chase & Co. boosted its holdings in Gartner by 7.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock worth $525,272,000 after acquiring an additional 70,236 shares during the period. Gateway Investment Advisers LLC purchased a new position in Gartner in the 4th quarter worth approximately $450,000. Occidental Asset Management LLC boosted its holdings in Gartner by 56.5% in the 4th quarter. Occidental Asset Management LLC now owns 690 shares of the information technology services provider’s stock worth $334,000 after acquiring an additional 249 shares during the period. Finally, Procyon Advisors LLC boosted its holdings in Gartner by 1.5% in the 4th quarter. Procyon Advisors LLC now owns 2,641 shares of the information technology services provider’s stock worth $1,279,000 after acquiring an additional 38 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Activity at Gartner

In other Gartner news, EVP William James Wartinbee III sold 538 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $449.09, for a total value of $241,610.42. Following the sale, the executive vice president now directly owns 7,965 shares of the company’s stock, valued at $3,577,001.85. This trade represents a 6.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 now directly owns 77,890 shares in the company, valued at $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 ninety days, insiders have sold 6,001 shares of company stock valued at $2,736,801. Corporate insiders own 2.30% of the company’s stock.

Gartner Stock Performance

IT stock opened at $447.88 on Friday. 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 cap of $34.41 billion, a P/E ratio of 27.94, a P/E/G ratio of 3.30 and a beta of 1.24. Gartner, Inc. has a 12-month low of $366.05 and a 12-month high of $584.01. The stock’s 50 day simple moving average is $420.79 and its 200 day simple moving average is $479.98.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.26. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.93 EPS. As a group, equities research analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

Analysts Set New Price Targets

IT has been the subject of a number of analyst reports. Robert W. Baird decreased their price target on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a report on Friday, March 21st. The Goldman Sachs Group cut their target price on Gartner from $622.00 to $535.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. UBS Group upped their target price on Gartner from $500.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company cut their target price on 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $518.67.

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.