Bank of New York Mellon Corp Sells 16,274 Shares of Gartner, Inc. (NYSE:IT)

Bank of New York Mellon Corp trimmed its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 3.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 480,662 shares of the information technology services provider's stock after selling 16,274 shares during the quarter. Bank of New York Mellon Corp owned 0.63% of Gartner worth $201,753,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Gartner by 2.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 826 shares of the information technology services provider's stock worth $400,000 after acquiring an additional 20 shares in the last quarter. Sompo Asset Management Co. Ltd. boosted its holdings in shares of Gartner by 1.7% in the 4th quarter. Sompo Asset Management Co. Ltd. now owns 1,210 shares of the information technology services provider's stock worth $586,000 after acquiring an additional 20 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Gartner by 2.9% in the 4th quarter. Parallel Advisors LLC now owns 737 shares of the information technology services provider's stock worth $357,000 after acquiring an additional 21 shares in the last quarter. Cornerstone Advisory LLC boosted its holdings in shares of Gartner by 0.8% in the 4th quarter. Cornerstone Advisory LLC now owns 2,803 shares of the information technology services provider's stock worth $1,443,000 after acquiring an additional 21 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its holdings in shares of Gartner by 3.1% in the 4th quarter. TD Waterhouse Canada Inc. now owns 758 shares of the information technology services provider's stock worth $367,000 after acquiring an additional 23 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on IT shares. Robert W. Baird reduced their target price on Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. The Goldman Sachs Group dropped their price objective on shares of Gartner from $622.00 to $535.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Wall Street Zen cut shares of Gartner from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Wells Fargo & Company dropped their price objective on shares of Gartner from $401.00 to $400.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. Finally, UBS Group dropped their price objective on shares of Gartner from $525.00 to $500.00 and set a "buy" rating for the company in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Gartner presently has an average rating of "Hold" and a consensus price target of $515.89.

Gartner Trading Down 3.5%

Shares of Gartner stock traded down $13.59 on Friday, hitting $374.19. 817,775 shares of the company's stock traded hands, compared to its average volume of 511,707. The firm's 50-day moving average price is $419.94 and its two-hundred day moving average price is $451.93. The stock has a market capitalization of $28.80 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 2.52 and a beta of 1.19. Gartner, Inc. has a one year low of $366.05 and a one year high of $584.01. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.09 and a quick ratio of 1.09.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, beating analysts' consensus estimates of $2.72 by $0.26. Gartner had a net margin of 19.82% and a return on equity of 96.70%. The business had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter in the prior year, the company earned $2.93 EPS. The firm's quarterly revenue was up 4.2% on a year-over-year basis. On average, research analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP John J. Rinello sold 109 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total value of $47,562.15. Following the completion of the sale, the senior vice president owned 3,280 shares in the company, valued at $1,431,228. This represents a 3.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William James Wartinbee III sold 538 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $449.09, for a total value of $241,610.42. Following the transaction, the executive vice president owned 7,965 shares of the company's stock, valued at approximately $3,577,001.85. This trade represents a 6.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,426 shares of company stock worth $2,430,327 over the last 90 days. 2.30% of the stock is currently owned by corporate insiders.

Gartner Company 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.