Truist Financial Corp Sells 2,211 Shares of Gartner, Inc. (NYSE:IT)

Truist Financial Corp reduced its holdings in shares of Gartner, Inc. (NYSE:IT) by 12.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,303 shares of the information technology services provider’s stock after selling 2,211 shares during the quarter. Truist Financial Corp’s holdings in Gartner were worth $7,414,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Eastern Bank acquired a new position in Gartner in the 3rd quarter worth about $26,000. Ashton Thomas Securities LLC acquired a new position in Gartner in the 3rd quarter worth about $44,000. True Wealth Design LLC increased its holdings in Gartner by 2,350.0% in the 3rd quarter. True Wealth Design LLC now owns 98 shares of the information technology services provider’s stock worth $50,000 after purchasing an additional 94 shares in the last quarter. Fortitude Family Office LLC increased its holdings in Gartner by 23.8% in 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 in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Gartner in the third quarter valued at about $77,000. 91.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Gartner news, Director James C. Smith sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $524.02, for a total value of $2,620,100.00. Following the transaction, the director now owns 509,457 shares in the company, valued at approximately $266,965,657.14. This represents a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Claire Herkes sold 411 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $521.24, for a total value of $214,229.64. Following the completion of the transaction, the executive vice president now owns 1,494 shares in the company, valued at approximately $778,732.56. The trade was a 21.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,690 shares of company stock worth $2,981,025. Corporate insiders own 3.60% of the company’s stock.

Gartner Stock Down 3.1 %

Shares of Gartner stock opened at $487.44 on Friday. Gartner, Inc. has a one year low of $411.15 and a one year high of $584.01. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The stock’s 50-day moving average is $509.42 and its 200 day moving average is $509.05. The firm has a market cap of $37.60 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 3.38 and a beta of 1.34.

Gartner (NYSE:IT) last announced its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 EPS for the quarter, beating the consensus estimate of $3.22 by $2.23. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the prior year, the company earned $3.04 EPS. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com raised Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft increased their price target on Gartner from $529.00 to $531.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Wells Fargo & Company decreased their price target on Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research note on Friday, January 10th. Barclays raised Gartner from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $525.00 to $600.00 in a research note on Friday, January 10th. Finally, Robert W. Baird increased their price target on Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $552.63.

Gartner Company 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.