Spirepoint Private Client LLC Reduces Position in Gartner, Inc. (NYSE:IT)

Spirepoint Private Client LLC reduced its position in Gartner, Inc. (NYSE:IT - Free Report) by 43.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,369 shares of the information technology services provider's stock after selling 1,039 shares during the quarter. Spirepoint Private Client LLC's holdings in Gartner were worth $575,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cary Street Partners Financial LLC purchased a new stake in shares of Gartner in the fourth quarter worth approximately $27,000. Itau Unibanco Holding S.A. increased 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 worth $40,000 after purchasing an additional 68 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Gartner in the fourth quarter worth $49,000. Promus Capital LLC bought a new stake in shares of Gartner during the fourth quarter worth $57,000. Finally, Hurley Capital LLC purchased a new stake in shares of Gartner during the fourth quarter valued at $73,000. Institutional investors own 91.51% of the company's stock.

Gartner Stock Up 1.4%

Shares of NYSE IT opened at $398.32 on Tuesday. Gartner, Inc. has a 12-month low of $366.05 and a 12-month high of $584.01. The stock's fifty day simple moving average is $423.57 and its two-hundred day simple moving average is $461.25. The stock has a market capitalization of $30.66 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 2.55 and a beta of 1.23. 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 issued its quarterly earnings data on Tuesday, May 6th. The information technology services provider reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.72 by $0.26. The company had revenue of $1.54 billion for 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 for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.93 earnings per share. As a group, analysts expect that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP John J. Rinello sold 109 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $436.35, for a total transaction of $47,562.15. Following the transaction, the senior vice president now directly owns 3,280 shares in the company, valued at $1,431,228. The trade was a 3.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robin B. Kranich sold 739 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $436.50, for a total value of $322,573.50. Following the completion of the sale, the executive vice president now owns 20,464 shares of the company's stock, valued at approximately $8,932,536. This trade represents a 3.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,426 shares of company stock worth $2,430,327 in the last 90 days. 3.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. 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 note on Thursday, May 1st. The Goldman Sachs Group decreased their price target 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. Robert W. Baird lowered their price target on Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Barclays reduced their price objective on Gartner from $510.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, Wall Street Zen cut Gartner from a "buy" rating to a "hold" rating in a report 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 given a buy rating to the stock. According to MarketBeat, Gartner presently has a consensus rating of "Hold" and a consensus target price 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.

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