Fiera Capital Corp Reduces Stake in Gartner, Inc. (NYSE:IT)

Key Points

• Fiera Capital Corp reduced its shareholding in Gartner, Inc. by 16.3%, now owning 193,653 shares valued at approximately $81 million.
• Several institutional investors, including Itau Unibanco Holding S.A. and GW&K Investment Management LLC, have significantly changed their stakes in Gartner, reflecting active interest in the stock.
• Analyst ratings for Gartner have been mixed, with price targets being cut by firms like Goldman Sachs and Barclays, while the average target price is currently $507.56.

Fiera Capital Corp trimmed its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 16.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,653 shares of the information technology services provider's stock after selling 37,710 shares during the quarter. Fiera Capital Corp owned about 0.25% of Gartner worth $81,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Cary Street Partners Financial LLC purchased a new stake in shares of Gartner during the 4th quarter valued at about $27,000. Itau Unibanco Holding S.A. boosted its holdings in shares of Gartner by 453.3% in the fourth quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock worth $40,000 after buying an additional 68 shares during the last quarter. Olde Wealth Management LLC purchased a new position in shares of Gartner in the first quarter worth approximately $42,000. GW&K Investment Management LLC boosted its holdings in shares of Gartner by 210.8% in the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock worth $48,000 after buying an additional 78 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new stake in Gartner during the 1st quarter worth approximately $55,000. 91.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IT has been the topic of a number of recent analyst reports. The Goldman Sachs Group decreased their target price on shares of Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Wells Fargo & Company dropped their price objective on shares of Gartner from $400.00 to $345.00 and set an "underweight" rating for the company in a research note on Friday, July 18th. Morgan Stanley dropped their price objective on shares of Gartner from $490.00 to $455.00 and set an "equal weight" rating for the company in a research note on Thursday. UBS Group lowered their target price on shares of Gartner from $500.00 to $480.00 and set a "buy" rating for the company in a research note on Tuesday, July 15th. Finally, Barclays decreased their price objective on Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $482.57.

Insiders Place Their Bets

In other news, EVP William James Wartinbee III sold 538 shares of the company'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 owned 7,965 shares in the company, valued at $3,577,001.85. This represents a 6.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Robin B. Kranich sold 739 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $436.50, for a total transaction of $322,573.50. Following the transaction, the executive vice president owned 20,464 shares in the company, valued at approximately $8,932,536. This trade represents a 3.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,426 shares of company stock valued at $2,430,327 in the last three months. 2.30% of the stock is currently owned by insiders.

Gartner Stock Down 2.5%

Gartner stock traded down $8.34 during trading hours on Friday, reaching $330.32. The stock had a trading volume of 708,582 shares, compared to its average volume of 695,420. The company has a market cap of $25.42 billion, a price-to-earnings ratio of 20.54 and a beta of 1.19. 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 business's 50 day moving average price is $395.73 and its 200-day moving average price is $439.06. Gartner, Inc. has a 52 week low of $327.96 and a 52 week high of $584.01.

Gartner (NYSE:IT - Get Free Report) last announced its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.72 by $0.26. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Gartner had a net margin of 19.82% and a return on equity of 96.70%. The firm's revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.93 earnings per share. Sell-side analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current year.

Gartner 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.