Crossmark Global Holdings Inc. Sells 2,713 Shares of Gartner, Inc. (NYSE:IT)

Crossmark Global Holdings Inc. lowered its position in Gartner, Inc. (NYSE:IT - Free Report) by 31.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,933 shares of the information technology services provider's stock after selling 2,713 shares during the period. Crossmark Global Holdings Inc.'s holdings in Gartner were worth $2,490,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Cary Street Partners Financial LLC bought a new position in Gartner in the 4th quarter worth approximately $27,000. Itau Unibanco Holding S.A. raised its position in Gartner by 453.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock worth $40,000 after purchasing an additional 68 shares during the last quarter. Olde Wealth Management LLC bought a new position in Gartner in the 1st quarter worth approximately $42,000. Wayfinding Financial LLC bought a new position in Gartner in the 1st quarter worth approximately $55,000. Finally, Bartlett & CO. Wealth Management LLC grew its holdings in Gartner by 57.5% during the 1st 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 period. Institutional investors own 91.51% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on IT. Wall Street Zen cut shares of Gartner from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Barclays cut their price target on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. UBS Group cut their price target on shares of Gartner from $525.00 to $500.00 and set a "buy" rating on the stock in a research report on Wednesday, June 18th. Wells Fargo & Company cut their price target on shares of Gartner from $401.00 to $400.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Finally, Robert W. Baird cut their price target on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $515.89.

Insider Activity

In related news, SVP John J. Rinello sold 109 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were 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 owned 3,280 shares of the company's stock, valued at $1,431,228. This represents a 3.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $281,250.00. Following the completion of the transaction, the executive vice president directly owned 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. Over the last 90 days, insiders have sold 5,426 shares of company stock worth $2,430,327. Insiders own 2.30% of the company's stock.

Gartner Stock Performance

Shares of IT stock traded down $13.59 on Friday, reaching $374.19. The stock had a trading volume of 817,775 shares, compared to its average volume of 512,753. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.64. The firm's 50-day moving average is $419.94 and its two-hundred day moving average is $451.40. The firm has a market capitalization of $28.80 billion, a price-to-earnings ratio of 23.29, a P/E/G ratio of 2.43 and a beta of 1.19. Gartner, Inc. has a 12 month low of $366.05 and a 12 month high of $584.01.

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