Gartner, Inc. (NYSE:IT) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC trimmed its holdings in Gartner, Inc. (NYSE:IT - Free Report) by 5.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 234,369 shares of the information technology services provider's stock after selling 12,217 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 0.30% of Gartner worth $113,545,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Kestra Investment Management LLC acquired a new stake in Gartner during the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. purchased a new position in Gartner in the 4th quarter valued at $49,000. Promus Capital LLC acquired a new position in Gartner in the 4th quarter valued at $57,000. Hurley Capital LLC acquired a new stake in shares of Gartner in the 4th quarter worth $73,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of Gartner by 14.0% in the fourth quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider's stock valued at $134,000 after acquiring an additional 34 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. StockNews.com downgraded shares of Gartner from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. The Goldman Sachs Group reissued a "buy" rating on shares of Gartner in a report on Tuesday, February 4th. Robert W. Baird dropped their price objective on Gartner from $605.00 to $557.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Barclays reduced their target price on Gartner from $510.00 to $475.00 and set an "overweight" rating for the company in a report on Monday. Finally, Morgan Stanley lowered their price target on shares of Gartner from $564.00 to $555.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have assigned 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 an average price target of $513.63.

Gartner Price Performance

Shares of Gartner stock traded down $1.35 on Friday, hitting $416.50. The company's stock had a trading volume of 361,098 shares, compared to its average volume of 451,527. The company has a market capitalization of $31.99 billion, a P/E ratio of 25.98, a price-to-earnings-growth ratio of 3.30 and a beta of 1.26. Gartner, Inc. has a 52-week low of $366.05 and a 52-week high of $584.01. The firm has a fifty day moving average price of $439.79 and a 200-day moving average price of $489.91. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $2.23. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the firm earned $3.04 earnings per share. The company's revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities research analysts expect that Gartner, Inc. will post 12.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Gartner

In other Gartner news, SVP John J. Rinello sold 90 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the sale, the senior vice president now directly owns 3,259 shares of the company's stock, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eileen Serra sold 1,200 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $489.77, for a total transaction of $587,724.00. Following the transaction, the director now directly owns 1,627 shares in the company, valued at $796,855.79. The trade was a 42.45 % decrease in their position. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

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.