Jennison Associates LLC Cuts Position in Gartner, Inc. (NYSE:IT)

Jennison Associates LLC lessened its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,820 shares of the information technology services provider's stock after selling 3,599 shares during the period. Jennison Associates LLC owned about 0.11% of Gartner worth $33,923,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC acquired a new stake in Gartner in the 4th quarter worth about $309,000. Commonwealth Equity Services LLC boosted its holdings in Gartner by 0.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 3,379 shares of the information technology services provider's stock worth $1,637,000 after buying an additional 30 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Gartner by 2.9% in the 4th quarter. Parallel Advisors LLC now owns 737 shares of the information technology services provider's stock worth $357,000 after buying an additional 21 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in shares of Gartner by 10.5% during the 4th quarter. Royal London Asset Management Ltd. now owns 33,060 shares of the information technology services provider's stock worth $16,017,000 after purchasing an additional 3,142 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its holdings in shares of Gartner by 10.4% during the 4th quarter. iA Global Asset Management Inc. now owns 4,392 shares of the information technology services provider's stock worth $2,128,000 after purchasing an additional 415 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Insider Buying and Selling

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

Gartner Stock Down 1.7%

Gartner stock opened at $355.09 on Friday. Gartner, Inc. has a twelve month low of $352.37 and a twelve month high of $584.01. The stock's fifty day simple moving average is $412.83 and its 200-day simple moving average is $447.37. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $27.33 billion, a P/E ratio of 22.10, a P/E/G ratio of 2.31 and a beta of 1.19.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, topping analysts' consensus estimates of $2.72 by $0.26. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Gartner had a return on equity of 96.70% and a net margin of 19.82%. The company's revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.93 earnings per share. As a group, equities analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Barclays lowered their target price on Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. The Goldman Sachs Group reduced their price target on shares of Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Wells Fargo & Company reduced their price target on shares of Gartner from $400.00 to $345.00 and set an "underweight" rating on the stock in a research report on Friday. Finally, UBS Group reduced their price target on shares of Gartner from $500.00 to $480.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Gartner has a consensus rating of "Hold" and a consensus price target of $507.56.

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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