Conestoga Capital Advisors LLC Sells 29,787 Shares of Gartner, Inc. (NYSE:IT)

Conestoga Capital Advisors LLC lessened its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 94.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,839 shares of the information technology services provider's stock after selling 29,787 shares during the quarter. Conestoga Capital Advisors LLC's holdings in Gartner were worth $772,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Sagespring Wealth Partners LLC grew its holdings in shares of Gartner by 14.9% in the 1st quarter. Sagespring Wealth Partners LLC now owns 670 shares of the information technology services provider's stock valued at $281,000 after acquiring an additional 87 shares in the last quarter. Sowell Financial Services LLC bought a new stake in shares of Gartner during the 1st quarter worth approximately $774,000. Hengehold Capital Management LLC boosted its holdings in shares of Gartner by 8.1% in the 1st quarter. Hengehold Capital Management LLC now owns 985 shares of the information technology services provider's stock valued at $413,000 after buying an additional 74 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Gartner by 4.9% in the first quarter. Brighton Jones LLC now owns 668 shares of the information technology services provider's stock valued at $280,000 after buying an additional 31 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its position in Gartner by 482.3% during the first quarter. Exchange Traded Concepts LLC now owns 8,455 shares of the information technology services provider's stock worth $3,549,000 after acquiring an additional 7,003 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Gartner Stock Performance

Shares of NYSE IT opened at $408.98 on Tuesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $31.48 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 3.30 and a beta of 1.23. The stock's fifty day moving average price is $423.95 and its two-hundred day moving average price is $465.41. Gartner, Inc. has a one year low of $366.05 and a one year high of $584.01.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, beating the consensus estimate of $2.72 by $0.26. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the company posted $2.93 earnings per share. Gartner's revenue was up 4.2% compared to the same quarter last year. On average, equities analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IT. Robert W. Baird decreased their price objective on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Wall Street Zen downgraded Gartner from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. UBS Group raised their price objective on Gartner from $500.00 to $525.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Barclays reduced their target price on Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Finally, 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. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Gartner currently has a consensus rating of "Hold" and an average price target of $518.67.

Insider Buying and Selling

In other Gartner news, CFO Craig Safian sold 3,415 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $450.17, for a total transaction of $1,537,330.55. Following the sale, the chief financial officer now owns 77,890 shares of the company's stock, valued at approximately $35,063,741.30. The trade was a 4.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Akhil Jain sold 625 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $450.00, for a total value of $281,250.00. Following the completion of the transaction, the executive vice president now owns 6,548 shares of the company's stock, valued at $2,946,600. The trade was a 8.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,426 shares of company stock valued at $2,430,327 over the last 90 days. 2.30% of the stock is owned by corporate insiders.

About Gartner

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.

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