Axxcess Wealth Management LLC Lowers Stake in Gartner, Inc. (NYSE:IT)

Axxcess Wealth Management LLC cut its holdings in Gartner, Inc. (NYSE:IT) by 5.4% in the fourth quarter, Holdings Channel reports. The fund owned 590 shares of the information technology services provider’s stock after selling 34 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Gartner were worth $286,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Howard Capital Management Inc. lifted its stake in Gartner by 4.4% in the fourth quarter. Howard Capital Management Inc. now owns 452 shares of the information technology services provider’s stock worth $219,000 after acquiring an additional 19 shares during the period. Gilbert & Cook Inc. lifted its position in shares of Gartner by 1.5% during the fourth quarter. Gilbert & Cook Inc. now owns 1,364 shares of the information technology services provider’s stock valued at $661,000 after buying an additional 20 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in shares of Gartner by 2.5% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 826 shares of the information technology services provider’s stock valued at $400,000 after buying an additional 20 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Gartner by 2.9% during the fourth quarter. Parallel Advisors LLC now owns 737 shares of the information technology services provider’s stock valued at $357,000 after buying an additional 21 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Gartner by 2.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 917 shares of the information technology services provider’s stock valued at $444,000 after buying an additional 22 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Stock Performance

IT opened at $430.03 on Friday. Gartner, Inc. has a 52-week low of $409.50 and a 52-week high of $584.01. The firm’s 50-day moving average price is $502.37 and its 200-day moving average price is $507.84. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The company has a market cap of $33.03 billion, a P/E ratio of 26.83, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last issued its quarterly earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, topping 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 company earned $3.04 EPS. Gartner’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, equities analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. StockNews.com lowered shares of Gartner from a “buy” rating to a “hold” rating in a research report on Friday. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $525.00 to $600.00 in a research report on Friday, January 10th. Wells Fargo & Company decreased their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating for the company in a research report on Friday, January 10th. Morgan Stanley decreased their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Gartner in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $546.63.

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.