Kayne Anderson Rudnick Investment Management LLC Reduces Stock Position in Gartner, Inc. (NYSE:IT)

Kayne Anderson Rudnick Investment Management LLC cut its position in shares of Gartner, Inc. (NYSE:IT - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 234,369 shares of the information technology services provider's stock after selling 12,217 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 0.30% of Gartner worth $113,545,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of Gartner by 8.6% in the third quarter. Barclays PLC now owns 166,787 shares of the information technology services provider's stock valued at $84,520,000 after acquiring an additional 13,205 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Gartner by 7.3% during the 3rd 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 4th 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. grew its holdings in shares of Gartner by 23.6% in the 4th quarter. Atomi Financial Group Inc. now owns 565 shares of the information technology services provider's stock valued at $274,000 after buying an additional 108 shares during the period. Finally, Brighton Jones LLC acquired a new position in shares of Gartner in the 4th quarter valued at $309,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IT has been the subject of a number of research analyst reports. Barclays reduced their target price on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. The Goldman Sachs Group dropped their target price on shares of Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. 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 report on Wednesday, May 7th. Robert W. Baird reduced 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. Finally, Wells Fargo & Company dropped their price objective on shares of Gartner from $401.00 to $400.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Gartner currently has a consensus rating of "Hold" and an average target price of $518.67.

Gartner Trading Up 1.4%

IT stock traded up $5.97 during midday 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 has a market cap of $34.20 billion, a P/E ratio of 27.72, a price-to-earnings-growth ratio of 3.30 and a beta of 1.24. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. Gartner, Inc. has a 1-year low of $366.05 and a 1-year high of $584.01. The business has a fifty day moving average price of $420.08 and a two-hundred day moving average price of $475.95.

Gartner (NYSE:IT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.26. Gartner had a net margin of 20.00% and a return on equity of 116.56%. 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 previous year, the firm posted $2.93 earnings per share. The business's revenue was up 4.2% compared to the same quarter last year. On average, sell-side analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Transactions at Gartner

In other Gartner news, EVP Akhil Jain sold 625 shares of the company'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 approximately $2,946,600. This represents a 8.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP John J. Rinello sold 109 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total transaction of $47,562.15. Following the completion of the transaction, the senior vice president now owns 3,280 shares in the company, valued at approximately $1,431,228. The trade was a 3.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,426 shares of company stock valued at $2,430,327 over the last three months. Corporate insiders own 2.30% of the company's stock.

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.