JPMorgan Chase & Co. Sells 2,809 Shares of Gartner, Inc. (NYSE:IT)

JPMorgan Chase & Co. trimmed its position in shares of Gartner, Inc. (NYSE:IT) by 0.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,033,721 shares of the information technology services provider’s stock after selling 2,809 shares during the quarter. JPMorgan Chase & Co.’s holdings in Gartner were worth $500,807,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Principal Financial Group Inc. raised its position in shares of Gartner by 5.5% in the third quarter. Principal Financial Group Inc. now owns 2,001,142 shares of the information technology services provider’s stock valued at $1,014,099,000 after purchasing an additional 103,814 shares during the period. D.A. Davidson & CO. raised its holdings in Gartner by 4.2% during the 3rd quarter. D.A. Davidson & CO. now owns 1,108 shares of the information technology services provider’s stock valued at $561,000 after acquiring an additional 45 shares during the period. CreativeOne Wealth LLC purchased a new stake in shares of Gartner during the third quarter worth $229,000. Fiduciary Trust Co boosted its holdings in shares of Gartner by 7.2% in the third quarter. Fiduciary Trust Co now owns 3,761 shares of the information technology services provider’s stock worth $1,906,000 after acquiring an additional 252 shares during the period. Finally, Public Sector Pension Investment Board grew its position in shares of Gartner by 13.7% in the third quarter. Public Sector Pension Investment Board now owns 3,330 shares of the information technology services provider’s stock valued at $1,688,000 after purchasing an additional 400 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Gartner Stock Down 1.5 %

Shares of NYSE:IT opened at $418.57 on Friday. The firm has a fifty day moving average of $494.18 and a 200 day moving average of $505.57. Gartner, Inc. has a 52-week low of $409.50 and a 52-week high of $584.01. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $32.15 billion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $2.23. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.04 EPS. As a group, research analysts anticipate that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Insider Buying and Selling at Gartner

In related news, Director Eileen Serra sold 1,200 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the sale, the director now directly owns 1,627 shares in the company, valued at $796,855.79. This represents a 42.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP John J. Rinello sold 90 shares of Gartner 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 transaction, the senior vice president now directly owns 3,259 shares in the company, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

IT has been the subject of a number of recent analyst reports. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Morgan Stanley cut their price objective 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. Barclays raised shares of Gartner from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $525.00 to $600.00 in a report on Friday, January 10th. Wells Fargo & Company reduced 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. Finally, Robert W. Baird decreased their price target on shares of Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. One 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.com, the company presently has an average rating of “Hold” and a consensus price target of $536.63.

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.