Axxcess Wealth Management LLC Reduces Stock Position in Gartner, Inc. (NYSE:IT)

Axxcess Wealth Management LLC decreased its position in shares of Gartner, Inc. (NYSE:IT) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 624 shares of the information technology services provider’s stock after selling 31 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Gartner were worth $316,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Eastern Bank acquired a new position in Gartner during the third quarter worth about $26,000. Crewe Advisors LLC increased its stake in shares of Gartner by 223.3% during the 2nd quarter. Crewe Advisors LLC now owns 97 shares of the information technology services provider’s stock worth $44,000 after purchasing an additional 67 shares in the last quarter. Fortitude Family Office LLC raised its position in shares of Gartner by 23.8% during the 3rd quarter. Fortitude Family Office LLC now owns 104 shares of the information technology services provider’s stock worth $53,000 after purchasing an additional 20 shares during the last quarter. J.Safra Asset Management Corp lifted its stake in Gartner by 58.7% in the 1st quarter. J.Safra Asset Management Corp now owns 146 shares of the information technology services provider’s stock valued at $70,000 after buying an additional 54 shares in the last quarter. Finally, Asset Dedication LLC grew its holdings in Gartner by 46.5% during the 3rd quarter. Asset Dedication LLC now owns 148 shares of the information technology services provider’s stock valued at $75,000 after buying an additional 47 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Stock Up 0.2 %

Shares of NYSE IT opened at $551.80 on Thursday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $559.00. The stock’s 50-day simple moving average is $516.48 and its 200-day simple moving average is $476.56. The firm has a market cap of $42.52 billion, a price-to-earnings ratio of 40.69, a PEG ratio of 3.44 and a beta of 1.32.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, November 5th. The information technology services provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.05. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. Gartner had a net margin of 17.33% and a return on equity of 118.27%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.56 EPS. As a group, equities analysts anticipate that Gartner, Inc. will post 11.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Bank of America lifted their price target on shares of Gartner from $525.00 to $580.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets boosted their price target on Gartner from $450.00 to $510.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Morgan Stanley increased their target price on Gartner from $490.00 to $528.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, Barclays upped their price objective on shares of Gartner from $470.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $539.25.

Insiders Place Their Bets

In other news, EVP Yvonne Genovese sold 443 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $483.62, for a total transaction of $214,243.66. Following the completion of the transaction, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at approximately $947,411.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Gartner news, CEO Eugene A. Hall sold 34,060 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $505.40, for a total transaction of $17,213,924.00. Following the completion of the transaction, the chief executive officer now owns 1,143,401 shares in the company, valued at approximately $577,874,865.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Yvonne Genovese sold 443 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $483.62, for a total transaction of $214,243.66. Following the completion of the sale, the executive vice president now directly owns 1,959 shares of the company’s stock, valued at $947,411.58. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,172 shares of company stock valued at $38,023,255. Company insiders own 3.60% of the company’s stock.

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.