Gartner, Inc. (NYSE:IT) Shares Sold by XTX Topco Ltd

XTX Topco Ltd cut its stake in shares of Gartner, Inc. (NYSE:IT) by 7.2% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 3,658 shares of the information technology services provider’s stock after selling 285 shares during the period. XTX Topco Ltd’s holdings in Gartner were worth $1,535,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its stake in shares of Gartner by 8.6% in the fourth quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider’s stock worth $1,367,233,000 after acquiring an additional 223,087 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Gartner by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 2,063,577 shares of the information technology services provider’s stock worth $998,400,000 after acquiring an additional 45,219 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Gartner by 6.7% in the fourth quarter. Invesco Ltd. now owns 955,134 shares of the information technology services provider’s stock worth $462,734,000 after acquiring an additional 60,306 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Gartner by 10.9% in the fourth quarter. Northern Trust Corp now owns 906,833 shares of the information technology services provider’s stock worth $439,333,000 after acquiring an additional 88,800 shares in the last quarter. Finally, Sustainable Growth Advisers LP lifted its stake in shares of Gartner by 26.3% in the first quarter. Sustainable Growth Advisers LP now owns 676,325 shares of the information technology services provider’s stock worth $283,881,000 after acquiring an additional 140,898 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Gartner

In other news, EVP William James Wartinbee III sold 538 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $449.09, for a total transaction of $241,610.42. Following the sale, the executive vice president directly owned 7,965 shares in the company, valued at approximately $3,577,001.85. This represents a 6.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Craig Safian sold 3,415 shares of the stock in a transaction that occurred 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 sale, the chief financial officer owned 77,890 shares in the company, valued at $35,063,741.30. The trade was a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,426 shares of company stock worth $2,430,327. Corporate insiders own 2.30% of the company’s stock.

Gartner Trading Down 1.5%

Shares of NYSE IT opened at $338.53 on Friday. The stock’s 50 day moving average price is $395.73 and its two-hundred day moving average price is $439.06. Gartner, Inc. has a 52-week low of $337.40 and a 52-week high of $584.01. The stock has a market capitalization of $26.06 billion, a P/E ratio of 21.07 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.

Gartner (NYSE:IT) last announced its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.26. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Gartner had a return on equity of 96.70% and a net margin of 19.82%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.93 EPS. On average, analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on IT shares. Morgan Stanley cut their price target on Gartner from $490.00 to $455.00 and set an “equal weight” rating on the stock in a research note on Thursday. UBS Group cut their price target on Gartner from $500.00 to $480.00 and set a “buy” rating on the stock in a research note on Tuesday, July 15th. Barclays cut their price target on Gartner from $510.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Wells Fargo & Company cut their price target on Gartner from $400.00 to $345.00 and set an “underweight” rating on the stock in a research note on Friday, July 18th. Finally, The Goldman Sachs Group cut their price objective on Gartner from $622.00 to $535.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $482.57.

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.