Nisa Investment Advisors LLC Cuts Stake in Gartner, Inc. (NYSE:IT)

Nisa Investment Advisors LLC lowered its stake in shares of Gartner, Inc. (NYSE:IT) by 11.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,206 shares of the information technology services provider’s stock after selling 2,103 shares during the period. Nisa Investment Advisors LLC’s holdings in Gartner were worth $6,802,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Commonwealth Equity Services LLC grew its stake in Gartner by 0.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 3,379 shares of the information technology services provider’s stock valued at $1,637,000 after acquiring an additional 30 shares in the last quarter. DAVENPORT & Co LLC boosted its holdings in Gartner by 11.5% in the 1st quarter. DAVENPORT & Co LLC now owns 921 shares of the information technology services provider’s stock valued at $387,000 after purchasing an additional 95 shares during the last quarter. Three Seasons Wealth LLC acquired a new position in Gartner in the 4th quarter valued at about $731,000. SG Americas Securities LLC boosted its holdings in Gartner by 3.6% in the 1st quarter. SG Americas Securities LLC now owns 42,389 shares of the information technology services provider’s stock valued at $17,792,000 after purchasing an additional 1,484 shares during the last quarter. Finally, Brighton Jones LLC acquired a new position in Gartner in the 4th quarter valued at about $309,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling at Gartner

In related news, EVP Robin B. Kranich sold 739 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $436.50, for a total value of $322,573.50. Following the sale, the executive vice president directly owned 20,464 shares of the company’s stock, valued at approximately $8,932,536. This trade represents a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Akhil Jain sold 625 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $450.00, for a total transaction of $281,250.00. Following the completion of the sale, the executive vice president directly owned 6,548 shares in the company, valued at $2,946,600. This represents a 8.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,426 shares of company stock valued at $2,430,327. Corporate insiders own 2.30% of the company’s stock.

Gartner Stock Performance

Shares of IT opened at $374.19 on Friday. The company has a 50-day simple moving average of $419.94 and a 200-day simple moving average of $451.93. 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 company has a market capitalization of $28.80 billion, a PE ratio of 23.29, a P/E/G ratio of 2.52 and a beta of 1.19. Gartner, Inc. has a 52-week low of $366.05 and a 52-week high of $584.01.

Gartner (NYSE:IT) last posted its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share 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 firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the firm posted $2.93 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on IT shares. Barclays decreased 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. Wall Street Zen lowered shares of Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Robert W. Baird decreased their target price on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Wells Fargo & Company decreased their price objective on shares of Gartner from $401.00 to $400.00 and set an “underweight” rating on the stock in a report on Thursday, May 1st. Finally, UBS Group decreased their price objective 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Gartner currently has an average rating of “Hold” and a consensus target price of $515.89.

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.