Blair William & Co. IL Cuts Stake in Gartner, Inc. (NYSE:IT)

Key Points

• Blair William & Co. IL reduced its stake in Gartner, Inc. by 3.0% in Q1, now owning 40,906 shares worth approximately $17.17 million.
• On August 5th, Gartner reported quarterly earnings of $3.53 per share, exceeding analyst expectations of $3.38, with revenue up 5.7% year-over-year.
• Multiple analysts have downgraded their price targets for Gartner, with the consensus target now at $482.57, reflecting a mix of ratings including one sell and four buy ratings.

Blair William & Co. IL cut its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 3.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,906 shares of the information technology services provider's stock after selling 1,280 shares during the quarter. Blair William & Co. IL owned approximately 0.05% of Gartner worth $17,170,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of IT. GAMMA Investing LLC raised its stake in Gartner by 40,841.0% in the 1st quarter. GAMMA Investing LLC now owns 499,071 shares of the information technology services provider's stock worth $209,480,000 after purchasing an additional 497,852 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Gartner by 184.6% during the fourth quarter. BNP Paribas Financial Markets now owns 390,472 shares of the information technology services provider's stock worth $189,172,000 after purchasing an additional 253,288 shares during the period. FMR LLC raised its position in shares of Gartner by 8.6% in the fourth quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider's stock valued at $1,367,233,000 after buying an additional 223,087 shares in the last quarter. Millennium Management LLC raised its holdings in Gartner by 178.0% in the 4th quarter. Millennium Management LLC now owns 297,277 shares of the information technology services provider's stock valued at $144,022,000 after acquiring an additional 190,326 shares in the last quarter. Finally, Sustainable Growth Advisers LP lifted its position in shares of Gartner by 26.3% during the 1st quarter. Sustainable Growth Advisers LP now owns 676,325 shares of the information technology services provider's stock valued at $283,881,000 after acquiring an additional 140,898 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Gartner news, EVP William James Wartinbee III sold 538 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $3,577,001.85. This represents a 6.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Craig Safian sold 3,415 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $450.17, for a total value of $1,537,330.55. Following the completion of the sale, the chief financial officer directly owned 77,890 shares of the company's stock, valued at approximately $35,063,741.30. This trade represents a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,578 shares of company stock worth $2,060,191. 2.30% of the stock is owned by corporate insiders.

Gartner Trading Down 0.0%

IT traded down $0.02 during midday trading on Wednesday, hitting $243.91. 2,573,504 shares of the company were exchanged, compared to its average volume of 1,147,374. The firm's 50 day moving average price is $387.48 and its 200-day moving average price is $434.27. Gartner, Inc. has a 1-year low of $231.00 and a 1-year high of $584.01. The firm has a market capitalization of $18.77 billion, a P/E ratio of 15.01 and a beta of 1.19. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.64.

Gartner (NYSE:IT - Get Free Report) last released its earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share for the quarter, beating analysts' consensus estimates of $3.38 by $0.15. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. Gartner had a net margin of 19.71% and a return on equity of 86.19%. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.22 EPS. As a group, equities analysts forecast that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on IT. Wells Fargo & Company lowered their price objective on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research report on Wednesday. Morgan Stanley reduced their price objective on Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research note on Wednesday. UBS Group reissued a "neutral" rating and issued a $270.00 target price (down previously from $480.00) on shares of Gartner in a report on Wednesday. The Goldman Sachs Group decreased their price target on shares of Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Barclays dropped their price objective on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Gartner currently has a consensus rating of "Hold" and an average target price of $369.25.

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.