Invesco Ltd. Sells 155,686 Shares of Gartner, Inc. (NYSE:IT)

Key Points

• Invesco Ltd. reduced its position in Gartner, Inc. by 16.3% during the first quarter, owning 799,448 shares worth approximately $335.56 million after selling 155,686 shares.
• Gartner reported a quarterly earnings of $3.53 EPS, surpassing expectations by $0.15, and noted a 5.7% increase in revenue year-over-year, totaling $1.66 billion.
• Analysts have lowered their price targets for Gartner, with Morgan Stanley reducing its target from $455 to $322, and BMO Capital Markets dropping their target from $409 to $272.

Invesco Ltd. lessened its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 16.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 799,448 shares of the information technology services provider's stock after selling 155,686 shares during the quarter. Invesco Ltd. owned approximately 1.04% of Gartner worth $335,560,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in IT. Cary Street Partners Financial LLC bought a new position in shares of Gartner during the fourth quarter valued at about $27,000. Itau Unibanco Holding S.A. boosted its holdings in 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 valued at $40,000 after acquiring an additional 68 shares in the last quarter. Olde Wealth Management LLC purchased a new position in Gartner during the 1st quarter valued at $42,000. GW&K Investment Management LLC raised its holdings in Gartner by 210.8% in the 1st quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock worth $48,000 after purchasing an additional 78 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new stake in shares of Gartner during the 1st quarter valued at about $55,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Insider Activity at Gartner

In related news, EVP Akhil Jain sold 625 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $450.00, for a total transaction of $281,250.00. Following the sale, the executive vice president directly owned 6,548 shares of the company's stock, valued at $2,946,600. This trade represents a 8.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.30% of the stock is owned by company insiders.

Gartner Stock Up 0.3%

Shares of NYSE IT traded up $0.68 during trading on Thursday, reaching $243.34. The company had a trading volume of 1,982,415 shares, compared to its average volume of 795,268. Gartner, Inc. has a 12-month low of $223.65 and a 12-month high of $584.01. The stock has a market cap of $18.73 billion, a PE ratio of 14.98 and a beta of 1.19. The business's 50-day moving average is $363.58 and its 200 day moving average is $422.88. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 EPS for the quarter, beating the consensus estimate of $3.38 by $0.15. Gartner had a return on equity of 82.63% and a net margin of 19.71%. The company had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same period last year, the firm posted $3.22 earnings per share. Gartner's revenue was up 5.7% compared to the same quarter last year. As a group, equities analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. BMO Capital Markets reduced their price target on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 6th. Morgan Stanley reduced their price target on Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. Wells Fargo & Company reduced their price target on Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a research note on Wednesday, August 6th. The Goldman Sachs Group reduced their price target on Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Finally, Barclays reduced their price target on Gartner from $475.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $369.25.

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.