Gartner, Inc. (NYSE:IT) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lowered its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 67.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 869 shares of the information technology services provider's stock after selling 1,788 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Gartner were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Dorsey & Whitney Trust CO LLC grew its holdings in Gartner by 2.5% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 826 shares of the information technology services provider's stock worth $400,000 after acquiring an additional 20 shares in the last quarter. Sompo Asset Management Co. Ltd. lifted its position in shares of Gartner by 1.7% during the 4th quarter. Sompo Asset Management Co. Ltd. now owns 1,210 shares of the information technology services provider's stock worth $586,000 after purchasing an additional 20 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Gartner by 2.9% during the fourth quarter. Parallel Advisors LLC now owns 737 shares of the information technology services provider's stock worth $357,000 after purchasing an additional 21 shares in the last quarter. Cornerstone Advisory LLC increased its holdings 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. Finally, TD Waterhouse Canada Inc. raised 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 in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Gartner Stock Performance

Shares of IT traded up $2.45 during mid-day trading on Monday, reaching $405.21. 12,295 shares of the company's stock were exchanged, compared to its average volume of 656,056. 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 has a market capitalization of $31.19 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 2.61 and a beta of 1.23. The business's fifty day simple moving average is $423.58 and its 200-day simple moving average is $458.11. Gartner, Inc. has a 52-week low of $366.05 and a 52-week high of $584.01.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, topping 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 firm had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter in the prior year, the business earned $2.93 EPS. Gartner's quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Barclays lowered their price objective on Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. The Goldman Sachs Group lowered their price target on Gartner from $622.00 to $535.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Robert W. Baird dropped their price target 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. Wells Fargo & Company reduced their price objective on shares of Gartner from $401.00 to $400.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. Finally, UBS Group lowered their target price on shares of Gartner from $525.00 to $500.00 and set a "buy" rating for the company in a report on Wednesday, June 18th. One 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's stock. According to data from MarketBeat.com, Gartner currently has an average rating of "Hold" and a consensus target price of $515.89.

Insider Buying and Selling

In other news, EVP William James Wartinbee III sold 538 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $449.09, for a total transaction of $241,610.42. Following the transaction, the executive vice president now directly owns 7,965 shares in the company, valued at $3,577,001.85. The trade was a 6.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Akhil Jain sold 625 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $450.00, for a total transaction of $281,250.00. Following the completion of the sale, the executive vice president now owns 6,548 shares of the company's stock, valued at approximately $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 a total of 5,426 shares of company stock valued at $2,430,327 over the last quarter. 3.60% of the stock is currently owned by 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.