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Gartner, Inc. (NYSE:IT) Shares Sold by Townsquare Capital LLC

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Key Points

  • Townsquare Capital LLC has reduced its stake in Gartner, Inc. by 3.7% and now holds shares worth approximately $14.1 million.
  • Analyst ratings for Gartner have been adjusted, with Wells Fargo lowering the target price from $345.00 to $225.00 and several other firms also revising their price targets significantly.
  • Gartner reported earnings per share of $3.53, beating estimates, but its revenue of $1.66 billion fell short of analyst expectations.
  • Want stock alerts on Gartner? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Townsquare Capital LLC reduced its holdings in shares of Gartner, Inc. (NYSE:IT - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,581 shares of the information technology services provider's stock after selling 1,303 shares during the quarter. Townsquare Capital LLC's holdings in Gartner were worth $14,095,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC purchased a new position in Gartner in the fourth quarter valued at about $309,000. FIL Ltd raised its position in shares of Gartner by 48.7% in the 4th quarter. FIL Ltd now owns 17,342 shares of the information technology services provider's stock valued at $8,402,000 after purchasing an additional 5,679 shares in the last quarter. Advisory Services Network LLC raised its position in shares of Gartner by 27.0% in the 4th quarter. Advisory Services Network LLC now owns 1,883 shares of the information technology services provider's stock valued at $912,000 after purchasing an additional 400 shares in the last quarter. DRW Securities LLC raised its position in shares of Gartner by 110.5% in the 4th quarter. DRW Securities LLC now owns 945 shares of the information technology services provider's stock valued at $458,000 after purchasing an additional 496 shares in the last quarter. Finally, CenterBook Partners LP acquired a new position in shares of Gartner in the 4th quarter valued at approximately $842,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Gartner Stock Performance

Shares of NYSE:IT traded up $9.72 on Wednesday, reaching $239.11. 747,579 shares of the company's stock were exchanged, compared to its average volume of 781,122. The firm has a market capitalization of $18.40 billion, a price-to-earnings ratio of 14.71 and a beta of 1.19. Gartner, Inc. has a fifty-two week low of $223.65 and a fifty-two week high of $584.01. The business's 50-day moving average is $367.24 and its two-hundred day moving average is $424.13. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.61.

Gartner (NYSE:IT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The information technology services provider reported $3.53 earnings per share for the quarter, topping analysts' consensus estimates of $3.38 by $0.15. Gartner had a net margin of 19.71% and a return on equity of 82.63%. The business had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter last year, the company earned $3.22 EPS. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, equities research analysts forecast that Gartner, Inc. will post 12.5 EPS for the current year.

Insider Buying and Selling at Gartner

In related news, EVP Akhil Jain sold 625 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $450.00, for a total value of $281,250.00. Following the sale, the executive vice president owned 6,548 shares of the company's stock, valued at $2,946,600. This trade represents a 8.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. BMO Capital Markets cut their price target on shares of Gartner from $409.00 to $272.00 and set a "market perform" rating on the stock in a report on Wednesday, August 6th. Morgan Stanley cut their price target on shares of Gartner from $455.00 to $322.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 6th. UBS Group reaffirmed a "neutral" rating and issued a $270.00 price target (down from $480.00) on shares of Gartner in a report on Wednesday, August 6th. The Goldman Sachs Group cut their price target on shares of Gartner from $535.00 to $457.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Finally, Wells Fargo & Company cut their price target on shares of Gartner from $345.00 to $225.00 and set an "underweight" rating on the stock in a report on Wednesday, August 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $369.25.

Read Our Latest Report on IT

Gartner Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Gartner (NYSE:IT)

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