Los Angeles Capital Management LLC Sells 7,370 Shares of Gartner, Inc. (NYSE:IT)

Los Angeles Capital Management LLC lowered its stake in Gartner, Inc. (NYSE:IT - Free Report) by 37.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,238 shares of the information technology services provider's stock after selling 7,370 shares during the quarter. Los Angeles Capital Management LLC's holdings in Gartner were worth $5,137,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Cary Street Partners Financial LLC acquired a new stake in Gartner in the 4th quarter valued at about $27,000. Itau Unibanco Holding S.A. lifted its stake in Gartner by 453.3% during 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 buying an additional 68 shares in the last quarter. Olde Wealth Management LLC purchased a new stake in Gartner during the first quarter valued at about $42,000. Wayfinding Financial LLC purchased a new stake in Gartner during the first quarter valued at about $55,000. Finally, Bartlett & CO. Wealth Management LLC lifted its stake in Gartner by 57.5% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 167 shares of the information technology services provider's stock valued at $70,000 after buying an additional 61 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Transactions at Gartner

In related news, EVP Akhil Jain sold 625 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $450.00, for a total value of $281,250.00. Following the transaction, the executive vice president owned 6,548 shares in the company, valued at approximately $2,946,600. This represents a 8.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP John J. Rinello sold 109 shares of the 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 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 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 in the last ninety days. 2.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

IT has been the subject of a number of analyst reports. UBS Group reduced their price objective on shares of Gartner from $500.00 to $480.00 and set a "buy" rating for the company in a research note on Tuesday, July 15th. Barclays reduced their price objective 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 Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Finally, Wells Fargo & Company dropped their target price on Gartner from $400.00 to $345.00 and set an "underweight" rating on the stock in a report on Friday, July 18th. One equities research 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. According to data from MarketBeat.com, Gartner has a consensus rating of "Hold" and an average price target of $507.56.

Gartner Stock Down 0.6%

Shares of IT traded down $2.13 during trading hours on Thursday, reaching $355.85. The company's stock had a trading volume of 321,332 shares, compared to its average volume of 691,452. The company has a 50 day moving average of $407.35 and a two-hundred day moving average of $444.96. Gartner, Inc. has a 1-year low of $352.29 and a 1-year high of $584.01. The firm has a market cap of $27.39 billion, a price-to-earnings ratio of 22.14, a P/E/G ratio of 2.31 and a beta of 1.19. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.64.

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

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.