Lbp Am Sa Sells 1,702 Shares of Gartner, Inc. (NYSE:IT)

LBP AM SA lessened its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 14.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 10,401 shares of the information technology services provider's stock after selling 1,702 shares during the period. LBP AM SA's holdings in Gartner were worth $4,366,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Gartner during the fourth quarter worth about $460,541,000. Madison Investment Advisors LLC acquired a new stake in shares of Gartner during the fourth quarter worth about $244,799,000. GAMMA Investing LLC raised its position in shares of Gartner by 40,841.0% during the first quarter. GAMMA Investing LLC now owns 499,071 shares of the information technology services provider's stock worth $209,480,000 after purchasing an additional 497,852 shares during the period. BNP Paribas Financial Markets raised its position in shares of Gartner by 184.6% during the fourth quarter. BNP Paribas Financial Markets now owns 390,472 shares of the information technology services provider's stock worth $189,172,000 after purchasing an additional 253,288 shares during the period. Finally, FMR LLC raised its position in shares of Gartner by 8.6% during the fourth quarter. FMR LLC now owns 2,822,122 shares of the information technology services provider's stock worth $1,367,233,000 after purchasing an additional 223,087 shares during the period. Institutional investors own 91.51% of the company's stock.

Gartner Stock Down 2.7%

IT stock traded down $10.45 during mid-day trading on Friday, reaching $377.34. The company had a trading volume of 399,514 shares, compared to its average volume of 509,999. 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 stock has a 50 day simple moving average of $421.01 and a two-hundred day simple moving average of $452.73. The company has a market capitalization of $29.04 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 2.56 and a beta of 1.19. Gartner, Inc. has a 52 week low of $366.05 and a 52 week high of $584.01.

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 analysts' consensus estimates of $2.72 by $0.26. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Gartner had a return on equity of 96.70% and a net margin of 19.82%. The business's revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $2.93 earnings per share. As a group, equities analysts predict that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Activity at Gartner

In other news, EVP Robin B. Kranich sold 739 shares of Gartner stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $436.50, for a total transaction of $322,573.50. Following the completion of the transaction, the executive vice president directly owned 20,464 shares in the company, valued at approximately $8,932,536. The trade was a 3.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP John J. Rinello sold 109 shares of Gartner stock in a transaction that occurred 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 transaction, the senior vice president owned 3,280 shares of the company's stock, valued at $1,431,228. This represents 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 worth $2,430,327 in the last three months. 2.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on IT shares. Barclays dropped their price target on Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. The Goldman Sachs Group dropped their target price on Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Wall Street Zen lowered Gartner from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Wells Fargo & Company dropped their target price on Gartner from $401.00 to $400.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Finally, Robert W. Baird dropped their target price on Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $515.89.

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.