Brown Advisory Inc. Trims Holdings in Gartner, Inc. (NYSE:IT)

Brown Advisory Inc. lessened its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 38.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,658 shares of the information technology services provider's stock after selling 17,219 shares during the quarter. Brown Advisory Inc.'s holdings in Gartner were worth $11,609,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Highview Capital Management LLC DE raised its position in shares of Gartner by 6.6% in the 1st quarter. Highview Capital Management LLC DE now owns 2,543 shares of the information technology services provider's stock worth $1,067,000 after acquiring an additional 157 shares in the last quarter. EULAV Asset Management grew its position in Gartner by 0.6% in the 1st quarter. EULAV Asset Management now owns 217,200 shares of the information technology services provider's stock valued at $91,168,000 after purchasing an additional 1,400 shares during the period. TD Private Client Wealth LLC increased its position in shares of Gartner by 1.3% during the first quarter. TD Private Client Wealth LLC now owns 2,942 shares of the information technology services provider's stock worth $1,235,000 after acquiring an additional 37 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Gartner in the first quarter worth approximately $55,000. Finally, Olde Wealth Management LLC purchased a new stake in Gartner in the 1st quarter valued at $42,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Analyst Upgrades and Downgrades

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

Gartner Stock Performance

Shares of IT traded down $13.59 on Friday, reaching $374.19. The company's stock had a trading volume of 817,775 shares, compared to its average volume of 511,707. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.09 and a quick ratio of 1.09. The stock's 50 day simple moving average is $419.94 and its two-hundred day simple moving average is $451.93. The stock has a market capitalization of $28.80 billion, a P/E ratio of 27.41, a PEG ratio of 2.52 and a beta of 1.19. Gartner, Inc. has a 12-month low of $366.05 and a 12-month high of $584.01.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly 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. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Gartner had a return on equity of 96.70% and a net margin of 19.82%. The firm's revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.93 earnings per share. Research analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Activity at Gartner

In other news, CFO Craig Safian sold 3,415 shares of the business's stock in a transaction 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 transaction, the chief financial officer directly owned 77,890 shares of the company's stock, valued at approximately $35,063,741.30. The trade was a 4.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Akhil Jain sold 625 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $450.00, for a total transaction of $281,250.00. Following the sale, the executive vice president directly owned 6,548 shares of the company's stock, valued at $2,946,600. The trade was a 8.71% 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 quarter. 2.30% of the stock is owned by 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.