Sterling Capital Management LLC Sells 156 Shares of Gartner, Inc. (NYSE:IT)

Sterling Capital Management LLC decreased its stake in Gartner, Inc. (NYSE:IT) by 11.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,221 shares of the information technology services provider’s stock after selling 156 shares during the period. Sterling Capital Management LLC’s holdings in Gartner were worth $592,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IT. Family Office Research LLC purchased a new stake in shares of Gartner during the fourth quarter worth $711,000. Paralel Advisors LLC raised its stake in shares of Gartner by 10.0% during the 4th quarter. Paralel Advisors LLC now owns 5,269 shares of the information technology services provider’s stock valued at $2,553,000 after purchasing an additional 480 shares during the period. Treasurer of the State of North Carolina lifted its holdings in Gartner by 0.7% during the 4th quarter. Treasurer of the State of North Carolina now owns 40,927 shares of the information technology services provider’s stock worth $19,828,000 after purchasing an additional 296 shares in the last quarter. Capital Fund Management S.A. bought a new position in Gartner in the 4th quarter worth about $6,660,000. Finally, Scotia Capital Inc. grew its holdings in Gartner by 2.1% during the 4th quarter. Scotia Capital Inc. now owns 13,086 shares of the information technology services provider’s stock valued at $6,340,000 after buying an additional 271 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gartner

In other news, SVP John J. Rinello sold 90 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the sale, the senior vice president now owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This represents a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eileen Serra sold 1,200 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the sale, the director now owns 1,627 shares of the company’s stock, valued at $796,855.79. This represents a 42.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Gartner Stock Performance

Shares of NYSE IT opened at $401.69 on Friday. The stock’s 50-day moving average is $453.59 and its 200 day moving average is $494.22. The stock has a market cap of $30.86 billion, a price-to-earnings ratio of 25.06, a P/E/G ratio of 3.30 and a beta of 1.26. Gartner, Inc. has a 1-year low of $366.05 and a 1-year high of $584.01. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81.

Gartner (NYSE:IT) last posted its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, topping the consensus estimate of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same period last year, the firm posted $3.04 earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IT. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Robert W. Baird reduced their price target on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. The Goldman Sachs Group reiterated a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. Barclays reduced their target price on Gartner from $600.00 to $510.00 and set an “overweight” rating for the company in a research report on Friday, April 4th. Finally, Wells Fargo & Company lowered their price target on Gartner from $488.00 to $401.00 and set an “underweight” rating on the stock in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Gartner has an average rating of “Hold” and a consensus target price of $518.00.

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.