Gartner, Inc. (NYSE:IT) Shares Sold by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC reduced its stake in Gartner, Inc. (NYSE:IT) by 3.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,589 shares of the information technology services provider’s stock after selling 144 shares during the period. Icon Wealth Advisors LLC’s holdings in Gartner were worth $2,326,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sustainable Growth Advisers LP purchased a new position in Gartner in the second quarter valued at $266,541,000. Principal Financial Group Inc. grew its holdings in shares of Gartner by 22.0% during the second quarter. Principal Financial Group Inc. now owns 1,897,328 shares of the information technology services provider’s stock worth $852,014,000 after purchasing an additional 341,911 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Gartner by 117.4% during the second quarter. Natixis Advisors LLC now owns 200,097 shares of the information technology services provider’s stock worth $89,856,000 after purchasing an additional 108,061 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Gartner during the third quarter worth about $36,789,000. Finally, Swedbank AB purchased a new position in shares of Gartner during the first quarter worth about $30,735,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Gartner

In other news, EVP Akhil Jain sold 500 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $492.00, for a total transaction of $246,000.00. Following the completion of the sale, the executive vice president now directly owns 4,339 shares in the company, valued at $2,134,788. This represents a 10.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Eugene A. Hall sold 34,060 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $505.40, for a total value of $17,213,924.00. Following the completion of the sale, the chief executive officer now owns 1,143,401 shares of the company’s stock, valued at approximately $577,874,865.40. This represents a 2.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 72,149 shares of company stock worth $37,694,911. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on IT. Wells Fargo & Company boosted their price target on Gartner from $460.00 to $470.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. StockNews.com upgraded Gartner from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Robert W. Baird boosted their target price on Gartner from $565.00 to $590.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Barclays boosted their target price on Gartner from $470.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Gartner from $529.00 to $531.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Gartner currently has a consensus rating of “Hold” and a consensus target price of $539.25.

Gartner Price Performance

IT stock opened at $519.23 on Friday. Gartner, Inc. has a 1 year low of $411.15 and a 1 year high of $559.00. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.02. The stock’s 50 day moving average price is $520.93 and its 200 day moving average price is $483.12. The firm has a market cap of $40.05 billion, a P/E ratio of 38.29, a PEG ratio of 3.24 and a beta of 1.32.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, November 5th. The information technology services provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.05. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.48 billion. Gartner had a return on equity of 118.27% and a net margin of 17.33%. Gartner’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.56 EPS. On average, sell-side analysts expect that Gartner, Inc. will post 11.89 earnings per share 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.