HM Payson & Co. Sells 79 Shares of Gartner, Inc. (NYSE:IT)

HM Payson & Co. lessened its position in Gartner, Inc. (NYSE:IT) by 2.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,737 shares of the information technology services provider’s stock after selling 79 shares during the period. HM Payson & Co.’s holdings in Gartner were worth $1,326,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Gartner by 1.1% during the third quarter. State Street Corp now owns 3,257,355 shares of the information technology services provider’s stock valued at $1,650,697,000 after purchasing an additional 36,258 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Gartner by 1.9% during the third quarter. Geode Capital Management LLC now owns 2,018,358 shares of the information technology services provider’s stock valued at $1,020,378,000 after purchasing an additional 36,698 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Gartner by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 2,012,799 shares of the information technology services provider’s stock valued at $975,141,000 after purchasing an additional 11,657 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Gartner by 7.3% during the third quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider’s stock valued at $525,272,000 after purchasing an additional 70,236 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Gartner by 3.3% during the third quarter. Franklin Resources Inc. now owns 801,589 shares of the information technology services provider’s stock valued at $422,678,000 after purchasing an additional 25,315 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Gartner Stock Performance

IT opened at $482.18 on Friday. The firm has a market cap of $37.04 billion, a P/E ratio of 30.08, a PEG ratio of 3.30 and a beta of 1.29. Gartner, Inc. has a 1-year low of $411.15 and a 1-year high of $584.01. The company has a 50 day simple moving average of $509.85 and a two-hundred day simple moving average of $509.97. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06.

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

Insiders Place Their Bets

In related news, 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 completion of the transaction, the director now owns 1,627 shares in the company, valued at approximately $796,855.79. This represents a 42.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John J. Rinello sold 90 shares of the company’s stock in a transaction 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 transaction, 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 position. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on IT shares. The Goldman Sachs Group reissued a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. Morgan Stanley cut their target price on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Robert W. Baird boosted their target price on shares of Gartner from $579.00 to $605.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $525.00 to $600.00 in a research report on Friday, January 10th. Finally, Wells Fargo & Company cut their target price on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $552.63.

Gartner 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.