Gartner, Inc. (NYSE:IT) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 7.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,551 shares of the information technology services provider's stock after selling 14,883 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.24% of Gartner worth $77,883,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Sompo Asset Management Co. Ltd. grew its stake in Gartner by 1.7% during the fourth quarter. Sompo Asset Management Co. Ltd. now owns 1,210 shares of the information technology services provider's stock valued at $586,000 after acquiring an additional 20 shares in the last quarter. Parallel Advisors LLC boosted its stake in Gartner by 2.9% during the fourth quarter. Parallel Advisors LLC now owns 737 shares of the information technology services provider's stock valued at $357,000 after buying an additional 21 shares during the last quarter. Cornerstone Advisory LLC grew its holdings in Gartner by 0.8% during the 4th quarter. Cornerstone Advisory LLC now owns 2,803 shares of the information technology services provider's stock valued at $1,443,000 after buying an additional 21 shares in the last quarter. TD Waterhouse Canada Inc. grew its holdings in Gartner by 3.1% during the 4th quarter. TD Waterhouse Canada Inc. now owns 758 shares of the information technology services provider's stock valued at $367,000 after buying an additional 23 shares in the last quarter. Finally, Connecticut Wealth Management LLC raised its holdings in shares of Gartner by 0.6% during the 4th quarter. Connecticut Wealth Management LLC now owns 4,604 shares of the information technology services provider's stock worth $2,230,000 after acquiring an additional 26 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Trading Down 3.5%

IT stock traded down $13.59 during midday trading on Friday, reaching $374.19. The company's stock had a trading volume of 817,775 shares, compared to its average volume of 793,517. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $28.80 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 2.52 and a beta of 1.19. The stock has a fifty day simple moving average of $419.94 and a two-hundred day simple moving average of $451.93. Gartner, Inc. has a 1 year low of $366.05 and a 1 year high of $584.01.

Gartner (NYSE:IT - Get Free Report) last released 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. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Gartner had a return on equity of 96.70% and a net margin of 19.82%. Gartner's quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the business posted $2.93 EPS. On average, equities research analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Activity

In related news, SVP John J. Rinello sold 109 shares of the company's stock in a transaction 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 completion of the sale, the senior vice president directly owned 3,280 shares in the company, valued at $1,431,228. This represents a 3.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Robin B. Kranich sold 739 shares of Gartner stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $436.50, for a total value of $322,573.50. Following the completion of the transaction, the executive vice president owned 20,464 shares in the company, valued at $8,932,536. This trade represents a 3.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,426 shares of company stock valued at $2,430,327. 2.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

IT has been the subject of a number of recent research reports. UBS Group cut their target price on shares of Gartner from $525.00 to $500.00 and set a "buy" rating for the company in a report on Wednesday, June 18th. Barclays reduced their target price on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Wall Street Zen downgraded shares of Gartner from a "buy" rating to a "hold" rating in a report on Friday, March 21st. The Goldman Sachs Group reduced their price objective on Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company dropped their target price on Gartner from $401.00 to $400.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Gartner currently has a consensus rating of "Hold" and a consensus price target of $515.89.

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.