Mackenzie Financial Corp Lowers Position in Gartner, Inc. (NYSE:IT)

Mackenzie Financial Corp cut its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 7.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 760,592 shares of the information technology services provider's stock after selling 62,309 shares during the quarter. Mackenzie Financial Corp owned 0.99% of Gartner worth $368,484,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC raised its stake in shares of Gartner by 8.6% during the 3rd quarter. Barclays PLC now owns 166,787 shares of the information technology services provider's stock valued at $84,520,000 after buying an additional 13,205 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Gartner by 7.3% during the third quarter. JPMorgan Chase & Co. now owns 1,036,530 shares of the information technology services provider's stock worth $525,272,000 after acquiring an additional 70,236 shares during the period. Ballentine Partners LLC grew its holdings in Gartner by 10.8% during the fourth quarter. Ballentine Partners LLC now owns 473 shares of the information technology services provider's stock worth $229,000 after acquiring an additional 46 shares during the period. Atomi Financial Group Inc. raised its position in Gartner by 23.6% during the fourth quarter. Atomi Financial Group Inc. now owns 565 shares of the information technology services provider's stock valued at $274,000 after acquiring an additional 108 shares in the last quarter. Finally, Hengehold Capital Management LLC lifted its holdings in Gartner by 52.3% in the fourth quarter. Hengehold Capital Management LLC now owns 911 shares of the information technology services provider's stock valued at $441,000 after acquiring an additional 313 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on IT. Barclays dropped their price objective on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Robert W. Baird dropped 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. Wells Fargo & Company cut their price objective on shares of Gartner from $401.00 to $400.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. UBS Group increased their target price on shares of Gartner from $500.00 to $525.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen downgraded Gartner from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Gartner presently has a consensus rating of "Hold" and a consensus price target of $518.67.

Gartner Price Performance

NYSE IT traded up $5.97 during mid-day trading on Tuesday, hitting $444.33. The stock had a trading volume of 426,581 shares, compared to its average volume of 457,699. The firm's 50 day moving average is $420.08 and its 200 day moving average is $475.95. Gartner, Inc. has a twelve month low of $366.05 and a twelve month high of $584.01. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $34.20 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 3.30 and a beta of 1.24.

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, beating the consensus estimate of $2.72 by $0.26. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the company earned $2.93 EPS. The firm's revenue was up 4.2% compared to the same quarter last year. Equities research analysts forecast that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Activity at Gartner

In other Gartner news, EVP Robin B. Kranich sold 739 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $436.50, for a total value of $322,573.50. Following the completion of the sale, the executive vice president now directly owns 20,464 shares of the company's stock, valued at $8,932,536. This trade represents a 3.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John J. Rinello sold 109 shares of the firm'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 sale, the senior vice president now directly owns 3,280 shares of the company's stock, valued at $1,431,228. This trade represents a 3.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,426 shares of company stock valued at $2,430,327. 2.30% of the stock is owned by insiders.

Gartner Company 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.