iA Global Asset Management Inc. Lowers Stock Position in Gartner, Inc. (NYSE:IT)

Key Points

• iA Global Asset Management Inc. has reduced its stake in Gartner, Inc. by 37.4%, now holding 2,751 shares valued at approximately $1,155,000 as of the latest SEC filing.
• Wall Street analysts have collectively lowered their price objectives for Gartner, with estimates ranging from $225.00 to $457.00, while the consensus rating remains a "Hold" with an average target price of $369.25.
• Insiders at Gartner have sold several shares recently, with notable sales including EVP Akhil Jain selling 625 shares for $281,250, indicating a continued trend of insider selling amidst stock performance fluctuations.

iA Global Asset Management Inc. lessened its stake in shares of Gartner, Inc. (NYSE:IT - Free Report) by 37.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,751 shares of the information technology services provider's stock after selling 1,641 shares during the quarter. iA Global Asset Management Inc.'s holdings in Gartner were worth $1,155,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cary Street Partners Financial LLC purchased a new position in Gartner during the fourth quarter worth about $27,000. Itau Unibanco Holding S.A. boosted its stake in shares of 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 purchasing an additional 68 shares during the period. Olde Wealth Management LLC purchased a new position in shares of Gartner in the first quarter valued at approximately $42,000. GW&K Investment Management LLC boosted its stake in shares of Gartner by 210.8% in the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock valued at $48,000 after purchasing an additional 78 shares during the period. Finally, Wayfinding Financial LLC purchased a new position in shares of Gartner in the first quarter valued at approximately $55,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. The Goldman Sachs Group lowered their price objective on shares of Gartner from $535.00 to $457.00 and set a "buy" rating for the company in a research note on Wednesday. BMO Capital Markets lowered their price objective on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating for the company in a research note on Wednesday. Wells Fargo & Company lowered their price objective on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating for the company in a research note on Wednesday. UBS Group reissued a "neutral" rating and issued a $270.00 price objective (down previously from $480.00) on shares of Gartner in a research note on Wednesday. Finally, Morgan Stanley lowered their price objective on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $369.25.

Insiders Place Their Bets

In other Gartner news, EVP Akhil Jain sold 625 shares of the firm's 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 sale, the executive vice president owned 6,548 shares of the company's stock, valued at approximately $2,946,600. This trade represents a 8.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William James Wartinbee III sold 538 shares of Gartner stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $449.09, for a total transaction of $241,610.42. Following the completion of the transaction, the executive vice president directly owned 7,965 shares in the company, valued at $3,577,001.85. The trade was a 6.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,578 shares of company stock valued at $2,060,191. 2.30% of the stock is owned by corporate insiders.

Gartner Stock Down 0.0%

Shares of Gartner stock opened at $243.91 on Thursday. Gartner, Inc. has a 52-week low of $231.00 and a 52-week high of $584.01. The company has a 50 day moving average of $383.65 and a 200 day moving average of $432.96. 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 company has a market capitalization of $18.77 billion, a P/E ratio of 15.01 and a beta of 1.19.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 86.19%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the firm earned $3.22 earnings per share. The firm's quarterly revenue was up 5.7% on a year-over-year basis. As a group, research analysts forecast that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

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.

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