Summit Trail Advisors LLC Trims Position in Gartner, Inc. (NYSE:IT)

Summit Trail Advisors LLC decreased its holdings in Gartner, Inc. (NYSE:IT) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 607 shares of the information technology services provider’s stock after selling 38 shares during the quarter. Summit Trail Advisors LLC’s holdings in Gartner were worth $274,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of IT. FourThought Financial Partners LLC purchased a new position in Gartner during the fourth quarter valued at $215,000. Sapient Capital LLC purchased a new position in shares of Gartner in the 4th quarter worth about $6,379,000. Benjamin F. Edwards & Company Inc. boosted its stake in Gartner by 27.9% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 197 shares of the information technology services provider’s stock worth $88,000 after purchasing an additional 43 shares in the last quarter. Los Angeles Capital Management LLC grew its position in Gartner by 167.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 140,379 shares of the information technology services provider’s stock valued at $63,326,000 after purchasing an additional 87,812 shares during the last quarter. Finally, Natixis Advisors L.P. increased its stake in Gartner by 0.3% during the 4th quarter. Natixis Advisors L.P. now owns 50,074 shares of the information technology services provider’s stock valued at $22,588,000 after purchasing an additional 158 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on IT shares. UBS Group reduced their price objective on shares of Gartner from $550.00 to $510.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. BMO Capital Markets dropped their price objective on Gartner from $450.00 to $432.00 and set a “market perform” rating for the company in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft started coverage on Gartner in a research note on Tuesday, April 16th. They issued a “hold” rating and a $507.00 price target for the company. StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. Finally, Morgan Stanley boosted their price target on shares of Gartner from $421.00 to $446.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $474.50.

Insider Transactions at Gartner

In other news, Director James C. Smith sold 5,000 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $455.00, for a total transaction of $2,275,000.00. Following the completion of the sale, the director now owns 638,235 shares in the company, valued at approximately $290,396,925. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Gartner news, EVP Yvonne Genovese sold 560 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $457.37, for a total value of $256,127.20. Following the completion of the transaction, the executive vice president now owns 2,398 shares of the company’s stock, valued at $1,096,773.26. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director James C. Smith sold 5,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $455.00, for a total transaction of $2,275,000.00. Following the sale, the director now directly owns 638,235 shares in the company, valued at $290,396,925. The disclosure for this sale can be found here. Insiders have sold a total of 22,952 shares of company stock valued at $10,598,070 in the last 90 days. Insiders own 3.60% of the company’s stock.

Gartner Stock Performance

IT stock opened at $434.27 on Thursday. Gartner, Inc. has a 1-year low of $301.78 and a 1-year high of $486.54. The business has a 50-day moving average price of $460.91 and a 200 day moving average price of $442.68. The company has a market capitalization of $33.86 billion, a P/E ratio of 43.21, a PEG ratio of 3.44 and a beta of 1.32. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.91 and a quick ratio of 0.91.

Gartner (NYSE:IT) last issued its quarterly earnings data on Tuesday, April 30th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.40. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.47 billion. Gartner had a net margin of 13.35% and a return on equity of 141.55%. Gartner’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $2.88 earnings per share. As a group, equities research analysts forecast that Gartner, Inc. will post 11.55 EPS for the current fiscal year.

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.