Janney Montgomery Scott LLC Lowers Position in Gartner, Inc. (NYSE:IT)

Janney Montgomery Scott LLC cut its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 6.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,500 shares of the information technology services provider's stock after selling 696 shares during the period. Janney Montgomery Scott LLC's holdings in Gartner were worth $3,988,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Cary Street Partners Financial LLC bought a new position in shares of Gartner during the 4th quarter valued at $27,000. Itau Unibanco Holding S.A. lifted its holdings in 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 acquiring an additional 68 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Gartner during the 4th quarter valued at about $49,000. Promus Capital LLC bought a new stake in shares of Gartner during the 4th quarter valued at about $57,000. Finally, Hurley Capital LLC purchased a new stake in shares of Gartner during the 4th quarter valued at about $73,000. 91.51% of the stock is currently owned by institutional investors.

Gartner Price Performance

Shares of Gartner stock traded up $2.07 during trading on Tuesday, reaching $400.57. 613,477 shares of the stock traded hands, compared to its average volume of 489,396. Gartner, Inc. has a 52-week low of $366.05 and a 52-week 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. The business has a fifty day simple moving average of $423.57 and a two-hundred day simple moving average of $461.25. The company has a market capitalization of $30.83 billion, a price-to-earnings ratio of 24.93, a P/E/G ratio of 2.55 and a beta of 1.23.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share 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 for the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter in the previous year, the business posted $2.93 earnings per share. Gartner's quarterly revenue was up 4.2% on a year-over-year basis. Sell-side analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on IT shares. The Goldman Sachs Group reduced their target price on shares of Gartner from $622.00 to $535.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. 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 report on Thursday, May 1st. Wall Street Zen lowered Gartner from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Barclays decreased their price objective on Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Finally, Robert W. Baird lowered their price target on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $515.89.

Insider Activity at Gartner

In other Gartner news, EVP Akhil Jain sold 625 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $450.00, for a total value of $281,250.00. Following the completion of the sale, the executive vice president now directly owns 6,548 shares of the company's stock, valued at $2,946,600. The trade was a 8.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robin B. Kranich sold 739 shares of Gartner stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $436.50, for a total transaction of $322,573.50. Following the sale, the executive vice president now directly owns 20,464 shares of the company's stock, valued at $8,932,536. This 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. Insiders own 3.60% of the company's stock.

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.