Robertson Stephens Wealth Management LLC Trims Stake in Gartner, Inc. (NYSE:IT)

Robertson Stephens Wealth Management LLC cut its stake in Gartner, Inc. (NYSE:IT - Free Report) by 27.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,704 shares of the information technology services provider's stock after selling 1,038 shares during the period. Robertson Stephens Wealth Management LLC's holdings in Gartner were worth $1,135,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IT. D.A. Davidson & CO. raised its position in shares of Gartner by 2.6% in the 4th quarter. D.A. Davidson & CO. now owns 1,137 shares of the information technology services provider's stock worth $551,000 after acquiring an additional 29 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in Gartner by 0.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 3,379 shares of the information technology services provider's stock valued at $1,637,000 after buying an additional 30 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Gartner during the 4th quarter valued at $49,000. Three Seasons Wealth LLC bought a new stake in shares of Gartner during the 4th quarter valued at $731,000. Finally, SG Americas Securities LLC grew its position in shares of Gartner by 3.6% in the 1st quarter. SG Americas Securities LLC now owns 42,389 shares of the information technology services provider's stock worth $17,792,000 after buying an additional 1,484 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Gartner

In other Gartner news, EVP William James Wartinbee III sold 538 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $449.09, for a total value of $241,610.42. Following the transaction, the executive vice president now owns 7,965 shares of the company's stock, valued at approximately $3,577,001.85. This represents a 6.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Akhil Jain sold 625 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was 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 now directly owns 6,548 shares in the company, valued at $2,946,600. The trade was a 8.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,426 shares of company stock worth $2,430,327 over the last three months. 3.60% of the stock is currently owned by company insiders.

Gartner Stock Performance

Shares of IT opened at $404.64 on Wednesday. The company has a market cap of $31.15 billion, a price-to-earnings ratio of 25.18, a P/E/G ratio of 2.65 and a beta of 1.23. The business's fifty day simple moving average is $423.92 and its two-hundred day simple moving average is $464.99. Gartner, Inc. has a 12 month low of $366.05 and a 12 month 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.

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 the consensus estimate of $2.72 by $0.26. Gartner had a return on equity of 96.70% and a net margin of 19.82%. The company had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. During the same period last year, the firm posted $2.93 earnings per share. Gartner's revenue was up 4.2% compared to the same quarter last year. Research analysts anticipate that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IT. UBS Group lifted their price target on shares of Gartner from $500.00 to $525.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Barclays lowered their target price on shares of Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, April 21st. The Goldman Sachs Group cut their price target on Gartner from $622.00 to $535.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Wells Fargo & Company lowered their price objective on Gartner from $401.00 to $400.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Finally, Wall Street Zen cut Gartner from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $518.67.

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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