Fortem Financial Group LLC Sells 896 Shares of Gartner, Inc. (NYSE:IT)

Fortem Financial Group LLC lowered its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 31.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,951 shares of the information technology services provider's stock after selling 896 shares during the period. Fortem Financial Group LLC's holdings in Gartner were worth $819,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of IT. Cary Street Partners Financial LLC bought a new position in Gartner during the fourth quarter worth about $27,000. Itau Unibanco Holding S.A. lifted its position in Gartner by 453.3% during the fourth quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock worth $40,000 after acquiring an additional 68 shares during the last quarter. Olde Wealth Management LLC acquired a new stake in Gartner during the first quarter worth approximately $42,000. Wayfinding Financial LLC acquired a new stake in Gartner during the first quarter worth approximately $55,000. Finally, Bartlett & CO. Wealth Management LLC lifted its position in Gartner by 57.5% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 167 shares of the information technology services provider's stock worth $70,000 after acquiring an additional 61 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

Insider Transactions at Gartner

In other Gartner news, EVP William James Wartinbee III sold 538 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $449.09, for a total value of $241,610.42. Following the completion of the sale, the executive vice president directly owned 7,965 shares in the company, valued at approximately $3,577,001.85. This represents a 6.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John J. Rinello sold 109 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $436.35, for a total value of $47,562.15. Following the completion of the transaction, the senior vice president directly owned 3,280 shares of the company's stock, valued at approximately $1,431,228. The trade was a 3.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,426 shares of company stock worth $2,430,327. 2.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

IT has been the subject of several research reports. Robert W. Baird cut 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 shares of Gartner from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. The Goldman Sachs Group dropped their price target on shares of Gartner from $622.00 to $535.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Barclays dropped their price target on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, Wells Fargo & Company dropped their price target 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $515.89.

Gartner Stock Performance

Gartner stock opened at $374.19 on Friday. The stock's 50 day simple moving average is $419.94 and its two-hundred day simple moving average is $451.93. Gartner, Inc. has a fifty-two week low of $366.05 and a fifty-two week high of $584.01. The stock has a market cap of $28.80 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 2.52 and a beta of 1.19. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.09 and a current ratio of 1.09.

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

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