Moran Wealth Management LLC Has $11.42 Million Stock Holdings in Gartner, Inc. (NYSE:IT)

Moran Wealth Management LLC lowered its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 50.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,197 shares of the information technology services provider's stock after selling 27,827 shares during the period. Moran Wealth Management LLC's holdings in Gartner were worth $11,416,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of IT. Norges Bank acquired a new stake in Gartner during the 4th quarter valued at $460,541,000. Madison Investment Advisors LLC purchased a new stake in Gartner during the 4th quarter worth about $244,799,000. GAMMA Investing LLC raised its stake in Gartner by 40,841.0% in the 1st quarter. GAMMA Investing LLC now owns 499,071 shares of the information technology services provider's stock valued at $209,480,000 after purchasing an additional 497,852 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Gartner in the 4th quarter valued at about $165,476,000. Finally, BNP Paribas Financial Markets lifted its holdings in Gartner by 184.6% in the 4th quarter. BNP Paribas Financial Markets now owns 390,472 shares of the information technology services provider's stock valued at $189,172,000 after purchasing an additional 253,288 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Gartner

In related news, EVP Akhil Jain sold 625 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $450.00, for a total transaction 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 $2,946,600. This represents a 8.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John J. Rinello sold 109 shares of Gartner stock in a transaction 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 now owns 3,280 shares in the company, valued at $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 have 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.

Gartner Stock Up 0.4%

NYSE IT traded up $1.70 on Thursday, hitting $404.34. 897,198 shares of the stock traded hands, compared to its average volume of 493,727. The company has a market capitalization of $31.12 billion, a P/E ratio of 25.16, a price-to-earnings-growth ratio of 2.60 and a beta of 1.23. The stock has a 50-day moving average of $423.51 and a 200 day moving average of $460.43. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.64. Gartner, Inc. has a twelve month low of $366.05 and a twelve month high of $584.01.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings data 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 19.82% and a return on equity of 96.70%. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the firm posted $2.93 EPS. Gartner's quarterly revenue was up 4.2% compared to the same quarter last year. As a group, analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IT has been the topic of several recent analyst reports. UBS Group reduced their price objective on shares of Gartner from $525.00 to $500.00 and set a "buy" rating on the stock in a research note on Wednesday, June 18th. Barclays reduced their price target on Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Robert W. Baird lowered their price objective on Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Wells Fargo & Company reduced 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, The Goldman Sachs Group lowered their price target on Gartner from $622.00 to $535.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. One investment 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. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $515.89.

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.