Nisa Investment Advisors LLC Trims Stake in Gartner, Inc. (NYSE:IT)

Nisa Investment Advisors LLC reduced its position in shares of Gartner, Inc. (NYSE:IT - Free Report) by 11.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,206 shares of the information technology services provider's stock after selling 2,103 shares during the period. Nisa Investment Advisors LLC's holdings in Gartner were worth $6,802,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Sompo Asset Management Co. Ltd. lifted its stake in Gartner by 1.7% in the fourth quarter. Sompo Asset Management Co. Ltd. now owns 1,210 shares of the information technology services provider's stock worth $586,000 after purchasing an additional 20 shares during the last quarter. Parallel Advisors LLC lifted its stake in Gartner by 2.9% in the fourth quarter. Parallel Advisors LLC now owns 737 shares of the information technology services provider's stock worth $357,000 after purchasing an additional 21 shares during the last quarter. Cornerstone Advisory LLC lifted its stake in Gartner by 0.8% in the fourth quarter. Cornerstone Advisory LLC now owns 2,803 shares of the information technology services provider's stock worth $1,443,000 after purchasing an additional 21 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in Gartner by 3.1% in the fourth quarter. TD Waterhouse Canada Inc. now owns 758 shares of the information technology services provider's stock worth $367,000 after purchasing an additional 23 shares during the last quarter. Finally, Connecticut Wealth Management LLC lifted its stake in Gartner by 0.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 4,604 shares of the information technology services provider's stock worth $2,230,000 after purchasing an additional 26 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gartner

In related news, SVP John J. Rinello sold 109 shares of Gartner stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $436.35, for a total transaction of $47,562.15. Following the transaction, the senior vice president directly owned 3,280 shares of the company's stock, valued at $1,431,228. This trade represents a 3.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP William James Wartinbee III sold 538 shares of Gartner stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $449.09, for a total transaction of $241,610.42. Following the sale, the executive vice president owned 7,965 shares of the company's stock, valued at $3,577,001.85. The trade was a 6.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,426 shares of company stock valued at $2,430,327. 2.30% of the stock is owned by corporate insiders.

Gartner Stock Down 3.5%

Shares of NYSE:IT opened at $374.19 on Friday. 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 12 month low of $366.05 and a 12 month high of $584.01. The company has a 50-day moving average price of $419.94 and a 200 day moving average price of $451.93. The company has a market cap of $28.80 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 2.52 and a beta of 1.19.

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IT. UBS Group lowered their price objective on shares of Gartner from $525.00 to $500.00 and set a "buy" rating for the company in a research note on Wednesday, June 18th. The Goldman Sachs Group lowered their price objective on shares of Gartner from $622.00 to $535.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Wall Street Zen downgraded shares of Gartner from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. Wells Fargo & Company reduced their price target on shares of Gartner from $401.00 to $400.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Finally, Barclays reduced their price target on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Gartner presently 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.

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