Pitcairn Co. Decreases Stake in Gartner, Inc. (NYSE:IT)

Pitcairn Co. cut its holdings in shares of Gartner, Inc. (NYSE:IT) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,473 shares of the information technology services provider’s stock after selling 39 shares during the period. Pitcairn Co.’s holdings in Gartner were worth $714,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Gartner by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 9,268,639 shares of the information technology services provider’s stock valued at $4,490,378,000 after buying an additional 100,917 shares during the period. State Street Corp lifted its holdings in Gartner by 1.1% in 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 acquiring an additional 36,258 shares during the period. Geode Capital Management LLC boosted its position in Gartner by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 2,063,577 shares of the information technology services provider’s stock worth $998,400,000 after purchasing an additional 45,219 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Gartner by 0.6% during the 4th 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 period. Finally, Wellington Management Group LLP increased its position in shares of Gartner by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 1,662,005 shares of the information technology services provider’s stock valued at $805,192,000 after purchasing an additional 187,854 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Gartner Stock Down 5.4 %

NYSE IT opened at $383.12 on Friday. Gartner, Inc. has a 12 month low of $382.23 and a 12 month high of $584.01. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock has a market cap of $29.43 billion, a PE ratio of 23.90, a P/E/G ratio of 3.30 and a beta of 1.29. The stock’s 50 day moving average is $482.71 and its 200 day moving average is $502.19.

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

Insider Buying and Selling at Gartner

In other news, SVP John J. Rinello sold 90 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 3,259 shares in the company, valued at approximately $1,728,932.09. This represents a 2.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eileen Serra sold 1,200 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the sale, the director now owns 1,627 shares in the company, valued at $796,855.79. This represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. 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. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Barclays cut their price target on Gartner from $600.00 to $510.00 and set an “overweight” rating for the company in a report on Friday. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Gartner in a research note on Tuesday, February 4th. Finally, Robert W. Baird cut their price objective on Gartner from $605.00 to $557.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $525.38.

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.