Bank of New York Mellon Corp Decreases Position in Gartner, Inc. (NYSE:IT)

Bank of New York Mellon Corp lessened its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 3.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 480,662 shares of the information technology services provider's stock after selling 16,274 shares during the period. Bank of New York Mellon Corp owned approximately 0.63% of Gartner worth $201,753,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC acquired a new position in Gartner during the 4th quarter worth $309,000. Jones Financial Companies Lllp grew its position in shares of Gartner by 154.3% during the fourth quarter. Jones Financial Companies Lllp now owns 506 shares of the information technology services provider's stock worth $245,000 after buying an additional 307 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Gartner during the fourth quarter worth approximately $49,000. Proficio Capital Partners LLC acquired a new stake in Gartner in the fourth quarter valued at approximately $95,762,000. Finally, Callan Family Office LLC acquired a new stake in Gartner in the fourth quarter valued at approximately $442,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Gartner Trading Down 0.8%

NYSE:IT traded down $3.26 on Thursday, reaching $391.19. The stock had a trading volume of 428,261 shares, compared to its average volume of 508,325. The company has a market cap of $30.11 billion, a price-to-earnings ratio of 24.33, a P/E/G ratio of 2.59 and a beta of 1.19. 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, Inc. has a 12-month low of $366.05 and a 12-month high of $584.01. The firm's fifty day moving average is $421.66 and its two-hundred day moving average is $453.42.

Gartner (NYSE:IT - Get Free Report) last released its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.53 billion. During the same period last year, the company earned $2.93 earnings per share. The company's quarterly revenue was up 4.2% on a year-over-year basis. Equities analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, EVP William James Wartinbee III sold 538 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were 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 in the company, valued at approximately $3,577,001.85. This trade represents a 6.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Robin B. Kranich sold 739 shares of Gartner stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $436.50, for a total transaction of $322,573.50. Following the transaction, the executive vice president directly owned 20,464 shares in the company, valued at approximately $8,932,536. This trade represents a 3.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,426 shares of company stock worth $2,430,327. Corporate insiders own 2.30% of the company's stock.

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.