Mn Services Vermogensbeheer B.V. Decreases Stake in Gartner, Inc. (NYSE:IT)

Mn Services Vermogensbeheer B.V. cut its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 7.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,200 shares of the information technology services provider's stock after selling 2,200 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Gartner were worth $11,837,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Cary Street Partners Financial LLC acquired a new stake in Gartner in the fourth quarter valued at approximately $27,000. Kestra Investment Management LLC acquired a new stake in Gartner in the 4th quarter valued at $29,000. Itau Unibanco Holding S.A. increased its holdings in Gartner by 453.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 83 shares of the information technology services provider's stock worth $40,000 after acquiring an additional 68 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Gartner during the fourth quarter worth $49,000. Finally, Promus Capital LLC purchased a new position in Gartner during the fourth quarter valued at $57,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Gartner Trading Up 1.0%

NYSE:IT traded up $4.01 on Monday, hitting $408.98. The stock had a trading volume of 680,432 shares, compared to its average volume of 476,685. The company has a fifty day moving average price of $423.28 and a two-hundred day moving average price of $466.17. Gartner, Inc. has a 1-year low of $366.05 and a 1-year high of $584.01. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock has a market cap of $31.48 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 3.30 and a beta of 1.23.

Gartner (NYSE:IT - Get Free Report) last posted its earnings results on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.26. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The company had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter last year, the firm earned $2.93 earnings per share. The firm's quarterly revenue was up 4.2% compared to the same quarter last year. Equities research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Akhil Jain sold 625 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $450.00, for a total value of $281,250.00. Following the sale, the executive vice president now owns 6,548 shares of the company's stock, valued at $2,946,600. This trade represents a 8.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Craig Safian sold 3,415 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $450.17, for a total transaction of $1,537,330.55. Following the completion of the sale, the chief financial officer now directly owns 77,890 shares of the company's stock, valued at approximately $35,063,741.30. This trade represents a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,426 shares of company stock worth $2,430,327 over the last ninety days. Corporate insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on IT shares. The Goldman Sachs Group reduced their price target on shares of Gartner from $622.00 to $535.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Barclays reduced their target price on Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Robert W. Baird dropped their price target on Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. UBS Group increased their price objective on Gartner from $500.00 to $525.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company lowered their target price on shares of Gartner from $401.00 to $400.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Gartner currently has a consensus rating of "Hold" and a consensus price target of $518.67.

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.