E Fund Management Co. Ltd. Has $669,000 Position in Gartner, Inc. (NYSE:IT)

Key Points

• E Fund Management Co. Ltd. reduced its stake in Gartner, Inc. by 41.6%, selling 1,134 shares, and now holds 1,595 shares valued at approximately $669,000.
• Multiple hedge funds adjusted their positions in Gartner, with Cary Street Partners and Itau Unibanco notably increasing stakes significantly during the fourth quarter.
• Gartner's shares are currently trading at around $242.45, with recent analyst ratings and price targets reflecting a cautious outlook, with a consensus target price of $369.25.

E Fund Management Co. Ltd. reduced its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 41.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,595 shares of the information technology services provider's stock after selling 1,134 shares during the period. E Fund Management Co. Ltd.'s holdings in Gartner were worth $669,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Sompo Asset Management Co. Ltd. grew its position in shares of Gartner by 1.7% during the fourth quarter. Sompo Asset Management Co. Ltd. now owns 1,210 shares of the information technology services provider's stock worth $586,000 after buying an additional 20 shares in the last quarter. Cornerstone Advisory LLC lifted its stake in Gartner by 0.8% in the fourth quarter. Cornerstone Advisory LLC now owns 2,803 shares of the information technology services provider's stock valued at $1,443,000 after buying an additional 21 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in Gartner by 3.1% in the fourth quarter. TD Waterhouse Canada Inc. now owns 758 shares of the information technology services provider's stock valued at $367,000 after buying an additional 23 shares during the last quarter. Connecticut Wealth Management LLC lifted its stake in Gartner by 0.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 4,604 shares of the information technology services provider's stock valued at $2,230,000 after buying an additional 26 shares during the last quarter. Finally, Keel Point LLC raised its stake in shares of Gartner by 5.5% during the fourth quarter. Keel Point LLC now owns 514 shares of the information technology services provider's stock valued at $249,000 after purchasing an additional 27 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Akhil Jain sold 625 shares of the stock in a transaction that occurred 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 owned 6,548 shares in the company, valued at approximately $2,946,600. This represents a 8.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.30% of the company's stock.

Gartner Trading Down 1.8%

IT traded down $4.32 during trading on Friday, reaching $238.75. The company had a trading volume of 1,615,063 shares, compared to its average volume of 1,543,448. The firm's 50-day simple moving average is $356.35 and its 200 day simple moving average is $417.93. The company has a market cap of $18.38 billion, a price-to-earnings ratio of 14.69 and a beta of 1.19. Gartner, Inc. has a 12-month low of $223.65 and a 12-month high of $584.01. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.11 and a current ratio of 1.11.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share for the quarter, topping analysts' consensus estimates of $3.38 by $0.15. Gartner had a return on equity of 82.63% and a net margin of 19.71%. The firm had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter last year, the business posted $3.22 EPS. Gartner's revenue was up 5.7% on a year-over-year basis. Equities research analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Barclays cut their price objective on shares of Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. Morgan Stanley dropped their price target on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. The Goldman Sachs Group dropped their price target on shares of Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Wells Fargo & Company dropped their price target on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research report on Wednesday, August 6th. Finally, UBS Group reiterated a "neutral" rating and issued a $270.00 price target (down from $480.00) on shares of Gartner in a research report on Wednesday, August 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus 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.