Wrapmanager Inc. Lowers Holdings in Gartner, Inc. (NYSE:IT)

Wrapmanager Inc. lowered its holdings in shares of Gartner, Inc. (NYSE:IT) by 19.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 903 shares of the information technology services provider’s stock after selling 220 shares during the quarter. Wrapmanager Inc.’s holdings in Gartner were worth $437,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IT. Czech National Bank boosted its stake in Gartner by 6.5% in the 4th quarter. Czech National Bank now owns 16,725 shares of the information technology services provider’s stock worth $8,103,000 after purchasing an additional 1,028 shares during the period. Assetmark Inc. boosted its position in shares of Gartner by 70.0% during the third quarter. Assetmark Inc. now owns 5,144 shares of the information technology services provider’s stock worth $2,607,000 after acquiring an additional 2,118 shares during the last quarter. Entropy Technologies LP purchased a new position in Gartner during the fourth quarter valued at $366,000. ING Groep NV increased its holdings in Gartner by 38.4% in the 3rd quarter. ING Groep NV now owns 10,306 shares of the information technology services provider’s stock valued at $5,223,000 after acquiring an additional 2,860 shares during the last quarter. Finally, Conestoga Capital Advisors LLC lifted its stake in Gartner by 1.5% in the 4th quarter. Conestoga Capital Advisors LLC now owns 31,626 shares of the information technology services provider’s stock worth $15,322,000 after purchasing an additional 480 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Activity at Gartner

In related news, EVP William James Wartinbee III sold 189 shares of Gartner stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $523.54, for a total transaction of $98,949.06. Following the completion of the sale, the executive vice president now owns 7,311 shares in the company, valued at $3,827,600.94. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP John J. Rinello sold 90 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were 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 directly owns 3,259 shares of the company’s stock, valued at approximately $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 690 shares of company stock worth $360,925 in the last quarter. 3.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IT. Barclays upgraded Gartner from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $525.00 to $600.00 in a research report on Friday, January 10th. Robert W. Baird raised their price target on Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Wells Fargo & Company decreased their price objective on Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a report on Friday, January 10th. The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a research report on Tuesday, February 4th. Finally, StockNews.com raised shares of Gartner from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $552.63.

Gartner Trading Up 2.0 %

Shares of IT opened at $497.72 on Tuesday. The company’s fifty day simple moving average is $509.33 and its 200-day simple moving average is $509.73. The company has a market cap of $38.23 billion, a P/E ratio of 31.05, a P/E/G ratio of 3.30 and a beta of 1.34. 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, Inc. has a twelve month low of $411.15 and a twelve month high of $584.01.

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