Gartner, Inc. (NYSE:IT) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 3.3% during the first quarter, according to its most recent disclosure 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 quarter. Bank of New York Mellon Corp owned 0.63% of Gartner worth $201,753,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of IT. Wayfinding Financial LLC acquired a new position in shares of Gartner in the first quarter valued at approximately $55,000. Olde Wealth Management LLC purchased a new position in Gartner in the 1st quarter valued at approximately $42,000. Eukles Asset Management grew its stake in shares of Gartner by 12.5% in the first quarter. Eukles Asset Management now owns 7,914 shares of the information technology services provider's stock worth $3,322,000 after acquiring an additional 881 shares in the last quarter. IFM Investors Pty Ltd increased its position in shares of Gartner by 11.2% during the first quarter. IFM Investors Pty Ltd now owns 16,713 shares of the information technology services provider's stock worth $7,015,000 after acquiring an additional 1,689 shares during the period. Finally, OneDigital Investment Advisors LLC raised its stake in shares of Gartner by 37.4% in the first quarter. OneDigital Investment Advisors LLC now owns 2,056 shares of the information technology services provider's stock valued at $863,000 after acquiring an additional 560 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Wall Street Analysts Forecast Growth

IT has been the topic of several analyst reports. The Goldman Sachs Group reduced their target price on shares of Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Barclays reduced their price objective on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Wells Fargo & Company lowered their target price on shares of Gartner from $401.00 to $400.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Wall Street Zen cut Gartner from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. Finally, UBS Group dropped their price objective on Gartner from $525.00 to $500.00 and set a "buy" rating on the stock in a 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 MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $515.89.

Insider Buying and Selling at Gartner

In other Gartner news, SVP John J. Rinello sold 109 shares of Gartner stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $436.35, for a total value of $47,562.15. Following the sale, the senior vice president owned 3,280 shares of the company's stock, valued at approximately $1,431,228. The trade was a 3.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Akhil Jain sold 625 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $450.00, for a total value of $281,250.00. Following the transaction, the executive vice president directly owned 6,548 shares in the company, valued at $2,946,600. This represents a 8.71% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,426 shares of company stock valued at $2,430,327. Corporate insiders own 2.30% of the company's stock.

Gartner Stock Performance

NYSE:IT traded down $5.50 during trading hours on Wednesday, reaching $393.65. 626,117 shares of the company's stock were exchanged, compared to its average volume of 508,528. Gartner, Inc. has a 1-year low of $366.05 and a 1-year high of $584.01. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $30.30 billion, a price-to-earnings ratio of 24.50, a P/E/G ratio of 2.59 and a beta of 1.19. The company has a 50-day moving average of $421.66 and a 200 day moving average of $453.42.

Gartner (NYSE:IT - Get Free Report) last announced its earnings results 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 period in the prior year, the company earned $2.93 earnings per share. The business's revenue was up 4.2% compared to the same quarter last year. Research analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current 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.