Jennison Associates LLC Sells 22,328 Shares of Gartner, Inc. (NYSE:IT)

Jennison Associates LLC trimmed its position in Gartner, Inc. (NYSE:IT - Free Report) by 22.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 76,573 shares of the information technology services provider's stock after selling 22,328 shares during the period. Jennison Associates LLC owned approximately 0.10% of Gartner worth $34,543,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in shares of Gartner in the third quarter valued at $25,000. BKM Wealth Management LLC bought a new position in shares of Gartner in the fourth quarter valued at $26,000. MCF Advisors LLC bought a new position in shares of Gartner in the fourth quarter valued at $27,000. VisionPoint Advisory Group LLC increased its holdings in shares of Gartner by 254.2% in the third quarter. VisionPoint Advisory Group LLC now owns 85 shares of the information technology services provider's stock valued at $29,000 after buying an additional 61 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in shares of Gartner by 357.9% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 87 shares of the information technology services provider's stock valued at $30,000 after buying an additional 68 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on IT. UBS Group raised shares of Gartner from a "neutral" rating to a "buy" rating and boosted their target price for the company from $484.00 to $550.00 in a research note on Thursday, April 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of Gartner in a report on Tuesday, April 16th. They issued a "hold" rating and a $507.00 price objective for the company. StockNews.com cut shares of Gartner from a "buy" rating to a "hold" rating in a report on Saturday, February 10th. Morgan Stanley upped their price objective on shares of Gartner from $421.00 to $446.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 6th. Finally, BMO Capital Markets upped their price objective on shares of Gartner from $444.00 to $450.00 and gave the stock a "market perform" rating in a report on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $477.60.

Insider Buying and Selling

In related news, EVP Akhil Jain sold 250 shares of Gartner stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $464.55, for a total value of $116,137.50. Following the completion of the sale, the executive vice president now directly owns 5,239 shares in the company, valued at $2,433,777.45. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Akhil Jain sold 250 shares of Gartner stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $464.55, for a total value of $116,137.50. Following the completion of the sale, the executive vice president now directly owns 5,239 shares in the company, valued at $2,433,777.45. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Claire Herkes sold 1,460 shares of Gartner stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $475.76, for a total value of $694,609.60. Following the completion of the sale, the executive vice president now owns 2,842 shares of the company's stock, valued at $1,352,109.92. The disclosure for this sale can be found here. Insiders sold a total of 22,952 shares of company stock worth $10,598,070 over the last three months. 3.60% of the stock is currently owned by company insiders.

Gartner Stock Performance

IT traded down $4.75 during trading on Thursday, reaching $446.31. 362,984 shares of the company's stock were exchanged, compared to its average volume of 387,396. Gartner, Inc. has a fifty-two week low of $292.60 and a fifty-two week high of $486.54. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.60. The business has a 50 day moving average price of $465.01 and a 200 day moving average price of $437.16. The company has a market capitalization of $34.80 billion, a P/E ratio of 40.35, a PEG ratio of 4.13 and a beta of 1.29.

Gartner (NYSE:IT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The information technology services provider reported $3.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.83 by $0.21. Gartner had a return on equity of 156.35% and a net margin of 14.94%. The company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.59 billion. During the same period last year, the business earned $3.70 earnings per share. The business's revenue was up 6.3% on a year-over-year basis. As a group, analysts predict that Gartner, Inc. will post 11.3 earnings per share for the current fiscal year.

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.