Gartner, Inc. (NYSE:IT) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its position in Gartner, Inc. (NYSE:IT - Free Report) by 13.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 594,825 shares of the information technology services provider's stock after selling 95,626 shares during the period. Bank of America Corp DE owned 0.77% of Gartner worth $288,175,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of IT. BNP Paribas Financial Markets boosted its holdings in Gartner by 184.6% in the fourth quarter. BNP Paribas Financial Markets now owns 390,472 shares of the information technology services provider's stock valued at $189,172,000 after purchasing an additional 253,288 shares in the last quarter. Algert Global LLC acquired a new position in shares of Gartner in the 4th quarter valued at $2,259,000. Aptus Capital Advisors LLC grew its position in shares of Gartner by 49.8% in the 4th quarter. Aptus Capital Advisors LLC now owns 1,300 shares of the information technology services provider's stock valued at $630,000 after buying an additional 432 shares during the last quarter. AXA S.A. raised its stake in Gartner by 60.7% during the 4th quarter. AXA S.A. now owns 31,073 shares of the information technology services provider's stock worth $15,054,000 after acquiring an additional 11,739 shares in the last quarter. Finally, Wahed Invest LLC lifted its position in Gartner by 4.9% in the fourth quarter. Wahed Invest LLC now owns 1,918 shares of the information technology services provider's stock valued at $929,000 after acquiring an additional 89 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Gartner news, EVP Robin B. Kranich sold 739 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $436.50, for a total value of $322,573.50. Following the completion of the transaction, the executive vice president now owns 20,464 shares in the company, valued at $8,932,536. This represents a 3.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now owns 3,259 shares in the company, valued at $1,728,932.09. This represents a 2.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,138 shares of company stock worth $1,005,606. 2.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IT. The Goldman Sachs Group dropped their price objective on Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a report on Wednesday. StockNews.com lowered Gartner from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. UBS Group raised their target price on shares of Gartner from $500.00 to $525.00 and gave the stock a "buy" rating in a research report on Wednesday. Barclays decreased their price target on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Finally, Robert W. Baird reduced their target price on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $518.67.

Gartner Price Performance

Shares of NYSE IT traded down $5.31 during trading on Friday, hitting $432.12. 415,520 shares of the company were exchanged, compared to its average volume of 453,801. 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, Inc. has a 1 year low of $366.05 and a 1 year high of $584.01. The company has a market cap of $33.19 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 3.30 and a beta of 1.24. The firm's fifty day moving average price is $423.97 and its 200 day moving average price is $482.13.

Gartner (NYSE:IT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.26. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The firm's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.93 earnings per share. On average, sell-side analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

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.