Pacer Advisors Inc. Sells 2,268 Shares of Gartner, Inc. (NYSE:IT)

Pacer Advisors Inc. trimmed its position in Gartner, Inc. (NYSE:IT - Free Report) by 35.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,144 shares of the information technology services provider's stock after selling 2,268 shares during the period. Pacer Advisors Inc.'s holdings in Gartner were worth $1,739,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cary Street Partners Financial LLC bought a new stake in shares of Gartner in the 4th quarter worth approximately $27,000. Itau Unibanco Holding S.A. lifted its stake in Gartner by 453.3% in 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 during the last quarter. Olde Wealth Management LLC acquired a new position in shares of Gartner during the first quarter valued at $42,000. GW&K Investment Management LLC grew its position in shares of Gartner by 210.8% during the first quarter. GW&K Investment Management LLC now owns 115 shares of the information technology services provider's stock worth $48,000 after acquiring an additional 78 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in shares of Gartner in the 1st quarter worth about $55,000. 91.51% of the stock is owned by institutional investors.

Insider Transactions at Gartner

In other news, EVP Akhil Jain sold 625 shares of the business's stock in a transaction 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 completion of the transaction, the executive vice president owned 6,548 shares of the company's stock, valued at $2,946,600. The trade was a 8.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William James Wartinbee III sold 538 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $449.09, for a total value of $241,610.42. Following the sale, the executive vice president directly owned 7,965 shares in the company, valued at $3,577,001.85. The trade was a 6.33% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,426 shares of company stock valued at $2,430,327. Corporate insiders own 2.30% of the company's stock.

Gartner Price Performance

NYSE IT traded down $5.27 on Thursday, hitting $338.53. 897,841 shares of the company were exchanged, compared to its average volume of 808,973. The firm has a 50 day moving average of $395.73 and a two-hundred day moving average of $439.06. Gartner, Inc. has a 1-year low of $337.40 and a 1-year high of $584.01. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.64. The company has a market cap of $26.06 billion, a P/E ratio of 21.07 and a beta of 1.19.

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, beating analysts' consensus estimates 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 return on equity of 96.70% and a net margin of 19.82%. The firm's revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.93 earnings per share. On average, equities analysts predict that Gartner, Inc. will post 12.5 EPS for the current year.

Wall Street Analyst Weigh In

IT has been the subject of several recent analyst reports. Barclays decreased their price target on 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 cut their target price on Gartner from $622.00 to $535.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. UBS Group dropped their price objective on Gartner from $500.00 to $480.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Wells Fargo & Company dropped their price target on shares of Gartner from $400.00 to $345.00 and set an "underweight" rating on the stock in a research report on Friday, July 18th. Finally, Morgan Stanley lowered their price objective on shares of Gartner from $490.00 to $455.00 and set an "equal weight" rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $496.44.

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.