Artemis Investment Management LLP Reduces Holdings in Gartner, Inc. (NYSE:IT)

Artemis Investment Management LLP lowered its stake in Gartner, Inc. (NYSE:IT - Free Report) by 39.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,724 shares of the information technology services provider's stock after selling 46,042 shares during the quarter. Artemis Investment Management LLP owned about 0.09% of Gartner worth $29,266,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of IT. Bartlett & CO. Wealth Management LLC raised its stake in shares of Gartner by 57.5% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 167 shares of the information technology services provider's stock valued at $70,000 after acquiring an additional 61 shares during the period. Board of the Pension Protection Fund increased its holdings in Gartner by 58.3% in the 1st quarter. Board of the Pension Protection Fund now owns 1,900 shares of the information technology services provider's stock valued at $798,000 after purchasing an additional 700 shares during the last quarter. Lecap Asset Management Ltd. raised its position in Gartner by 360.5% in the first quarter. Lecap Asset Management Ltd. now owns 3,877 shares of the information technology services provider's stock valued at $1,627,000 after purchasing an additional 3,035 shares during the period. Oppenheimer Asset Management Inc. raised its position in Gartner by 1.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 39,831 shares of the information technology services provider's stock valued at $16,719,000 after purchasing an additional 639 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Gartner during the first quarter worth $920,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Insider Buying and Selling

In other Gartner news, EVP Akhil Jain sold 625 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $450.00, for a total value of $281,250.00. Following the transaction, the executive vice president now directly owns 6,548 shares in the company, valued at $2,946,600. This represents a 8.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP John J. Rinello sold 109 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $436.35, for a total transaction of $47,562.15. Following the sale, the senior vice president now directly owns 3,280 shares in the company, valued at approximately $1,431,228. The trade was a 3.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,426 shares of company stock worth $2,430,327. Corporate insiders own 2.30% of the company's stock.

Gartner Stock Down 0.5%

Shares of IT stock traded down $1.92 during trading hours on Friday, reaching $402.68. 1,040,422 shares of the stock were exchanged, compared to its average volume of 496,726. The business's fifty day moving average is $423.56 and its two-hundred day moving average is $459.67. The firm has a market capitalization of $30.99 billion, a P/E ratio of 25.06, a P/E/G ratio of 2.61 and a beta of 1.23. Gartner, Inc. has a 12-month low of $366.05 and a 12-month high of $584.01. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.09 and a quick ratio of 1.09.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings results 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 net margin of 19.82% and a return on equity of 96.70%. The company had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter in the previous year, the business posted $2.93 EPS. The firm's revenue was up 4.2% on a year-over-year basis. As a group, research analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on IT. Wells Fargo & Company decreased their target price on Gartner from $401.00 to $400.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. The Goldman Sachs Group reduced their price target on shares of Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Robert W. Baird dropped their price objective on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Wall Street Zen downgraded shares of Gartner from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. Finally, UBS Group reduced their target price on shares of Gartner from $525.00 to $500.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $515.89.

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.